"Federal Hill National Historic District"

Live Auction Bidders – a $50,000 deposit, payable by cashier’s check, will be required of the purchaser at time and place of sale. The deposit shall be increased to 10% of the purchase price with 24 hours at the Auctioneer’s office (wire or cashier’s check).

Online Auction Bidders – a $50,000 deposit, payable by cashier’s check or wire, will be required of all online bidders prior to the start of the live auction. The deposit will be held in escrow until the completion of the auction and will be retained from the winning bidder. Other bidder deposits will be returned within one business day. Interested parties who do not provide a deposit in advance as stated above will not be permitted to bid. The deposit shall be increased to 10% of the purchase price by cashier’s check or wire transfer by 4:00 P.M. on the day of auction.
Deposit Escrow Agreement

A 5% or $5,000 buyer’s premium, whichever is greater, will be added to the final bid price. For complete Terms Of Sale, see the Summary Terms Of Sale at the bottom of this page and see the Sample Contract.

Featuring Live & Simulcast Online Bidding
$350,000 Opening Bid

FEDERAL HILL
National Historic District

Three Story
CORNER BUILDING
4,454 Square Feet GBA
Arranged for 7 Hotel Rooms & Office

Formerly
“Scarborough Fair”
Bed & Breakfast

Sale On Premises:
1 E. MONTGOMERY STREET
Corner South Charles Street
Baltimore City, MD 21230

Online Bidding Opens
MONDAY, MAY 20, 2024

Live Onsite Auction Begins
WEDNESDAY, MAY 22, 2024
AT 11:00 A.M.

NOTE: The information contained herein has been obtained from sources deemed reliable and is believed to be accurate. However, no express or implied warranty is made or may be inferred from any such representation. Dimensions, square footage and acreage contained herein are more or less. Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the permitted uses of the property.

GENERAL INFORMATION:
1 E. Montgomery Street is prominently positioned at the corner of Montgomery Street and South Charles Street in the Federal Hill National Historic District in South Baltimore. The property was formerly operated as the Scarborough Fair Bed & Breakfast, which featured 7 guest suites and office. The property has since been gutted and partially renovated, but remains well situated for redevelopment for any number of residential, institutional and possibly commercial uses. The location, nestled among Baltimore’s best known destinations and countless major employers, is exceptional. The auction provides the opportunity for either users or investors to purchase and re-purpose this well-known corner property back into productive use.

LOCATION:
The property is located in the northern portion of Federal Hill, just two blocks from the Inner Harbor, two blocks from Federal Hill Park and one block east of Otterbein. The area is a hub of entertainment, shopping and dining in Baltimore, with many of the City’s best known destinations in the immediate proximity. Oriole Park at Camden Yards, M&T Bank Stadium, the Maryland Science Center, Baltimore Convention Center, American Visionary Arts Museum and CFG Bank Arena are all within one mile. Cross Street Market is three blocks south. Camden Station, with both MARC and Lightrail service, is within one-half mile. A number of major employers are also nearby, including the University of Maryland, Baltimore campus, Under Armour, and many others in the Central Business District, Baltimore Peninsula, Harbor East and the Carroll – Camden Industrial Area.

For more information about the area, please visit:
Federal Hill – livebaltimore.com
Federal Hill – baltimore.org/
City Of Baltimore – www.baltimorecity.gov
CityView Map – cityview.baltimorecity.gov
Community Development Map – cels.baltimorehousing.org

SITE:
Lot size – 35’8″ x 60′, according to public tax records. Plat

Comprising the addresses formerly known as 1 & 3 E. Montgomery Street and 801 and 803 S. Charles Street on the City Block plats. The lot fronts 35’8″ on E. Montgomery Street and 60′ on S. Charles Street.

All public utilities

ZONING:
Zoned R-8 – Rowhouse and Multifamily Residential Zoning. Vacant. Previous registered use as Bed & Breakfast.

According to the Baltimore City zoning code, “The R-8 Rowhouse Residential Zoning District is intended to accommodate and maintain the traditional form of urban rowhouse development typical of many of the City’s inner neighborhoods, which contain continuous, block-long rowhouse development built to or only modestly set back from the street…Although rowhouse is the predominant housing type, this district also accommodates other residential types, of a similar density, including detached and semi-detached dwellings, and multi-family developments of a larger scale than found in more restrictive zoning districts.”

In addition to the uses mentioned above, example permitted uses in an R-8 district also include: Day-Care Home; Home Occupation; Residential Care Facility; Educational Facility and Place of Worship. A variety of conditional uses, including Neighborhood Commercial Establishment, may also be available.

A prior owner of the property negotiated a Memorandum of Understanding (MOU) with the Federal Hill Neighborhood Association and adjoining property owners proposing an intended use of 4 dwelling units and 3 professional suites. That MOU is linked below. It shall be the buyer’s responsibility to determine enforceability and any impact the MOU may have on zoning and future utilization of the property.
MOU

For more information about zoning, please visit:
Department of Planning – planning.baltimorecity.gov

IMPROVEMENTS:
Three story interconnecting assemblage of three buildings formerly arranged for use as a Bed & Breakfast. According to tax records, the building was constructed in 1920 and contains 4,454 square feet of gross building area. Federalist style architecture with all brick exterior, double-hung windows, shingle roof, dormers and multiple entrances.

The building has been gutted with some new framing, new electric and new plumbing. It remains arranged for 7 hotel/rooming units and office. Each unit is roughed-in for a full bath, and the office is roughed-in for a powder room and laundry closet. Features include two fireplaces (condition unknown), third floor patio and some remaining wood floors.

TITLE:
Sold subject to an annual $24 ground rent (unregistered); sold free and clear of all liens.

TAXES:
Current annual real estate taxes are $9,491.92, based on a full value tax assessment of $402,200.

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.

Live Auction Bidders – a $50,000 deposit, payable by cashier’s check, will be required of the purchaser at time and place of sale. The deposit shall be increased to 10% of the purchase price with 24 hours at the Auctioneer’s office (wire or cashier’s check).

Online Auction Bidders – a $50,000 deposit, payable by cashier’s check or wire, will be required of all online bidders prior to the start of the live auction. The deposit will be held in escrow until the completion of the auction and will be retained from the winning bidder. Other bidder deposits will be returned within one business day. Interested parties who do not provide a deposit in advance as stated above will not be permitted to bid. The deposit shall be increased to 10% of the purchase price by cashier’s check or wire transfer by 4:00 P.M. on the day of auction.
Deposit Escrow Agreement

Deposit funds shall be held by A. J. Billig & Co., LLC. Balance to be paid in cash at settlement, which shall take place within 45 days. If payment of the deposit or balance does not take place within the specified time, the deposit shall be forfeited and the property may be resold at the risk and expense of the Purchaser. Interest to be charged on the unpaid purchase money, at the rate of 12% per annum, from date of contract to date of settlement. All adjustments, including taxes, all other public charges and assessments payable on a monthly or annual basis, and sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of contract and assumed thereafter by the Purchaser. The property will be sold in “AS IS” condition, and subject to easements, agreements, restrictions or covenants of record affecting same, if any. The purchaser agrees to waive the right of inspection for lead paint, as provided under current Federal and State law. Purchaser assumes the risk of loss from the date of contract forward. If the Seller is unable to convey good and marketable title, the Purchaser’s sole remedy in law or equity shall be limited to the refund of the deposit. Upon refund of the deposit this sale shall be null and void and of no effect, and the Purchaser shall have no further claim against the Seller or Auctioneers. Recordation costs, transfer taxes and all costs incidental to settlement to be paid by the Purchaser except where otherwise mandated by local, State or Federal law. Time is of the essence. A 5% or $5,000 buyer’s premium, whichever is greater, will be added to the final bid price.