Buy It Now: "Federal Hill"

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PROFESSIONAL OFFICE
CONDOMINIUM UNIT
775± Square Feet ◆ Ground Level Entry

723 S. CHARLES STREET
Federal Hill Atrium Condominium
SUITE 101
Baltimore, MD 21230

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.

LOCATION:
The Federal Hill Atrium Condominium is situated at the southeast corner of Charles and Hughes Streets in the Federal Hill neighborhood of Downtown Baltimore, one block west of the Inner Harbor. The neighborhood is a mixture of residential and commercial land uses, including condominium apartments, townhomes, office buildings and storefronts. The proximity to the Downtown business district and convenient public transportation, make the neighborhood attractive to area residents. Two substantial development projects were recently completed on the blocks immediately north of the property. The location has an excellent, accessible location suitable for any number of commercial uses, or as an extremely well located home with access to all of the area’s attractions.

For more information on Federal Hill:

https://livebaltimore.com/neighborhoods/federal-hill

https://en.wikipedia.org/wiki/Federal_Hill,_Baltimore

CONDOMINIUM BUILDING:
The Federal Hill Atrium Condominium is a three story, brick freestanding Colonial-style building, constructed in 1982. The building is a mixture of residential and office condominium units, configured around a central atrium with access from Charles Street and a rear alley. A public parking lot adjoins the property in the rear. Ample on-street parking surrounds the property. Condominium fees are $1,000.34 per quarter, which include water, sewer, common area maintenance, and exterior building insurance. Zoning is R-8, residential with a permitted non-conforming use as an office suite.

Condominium Resale Package.

THE UNIT:
Unit 101 has a first floor ground level entrance on Charles Street and comprises 775 square feet, according to public tax records, consisting of:

• Entry Foyer – ceramic tile
• Reception Area – carpeting
• Executive Office/Conference Room – carpeting, large window to courtyard
• 3 – Private Offices – carpeting
• Break/Storage Room – carpeting, kitchenette with refrigerator, file storage shelving
• Rest Room – ceramic tile
• Utility Closet

Mechanical – electric heat pump, central air conditioning, electric water heater, Comcast internet and phone, wired for phone and computer network

TITLE:
The unit is in fee simple and sold free and clear of liens. Baltimore City Deed Book 16431, Page 420.

TAXES:
Published annual real estate taxes are $3,343, based on a full value assessment of $141,667. Purchasers may petition for a reduction in the assessment of their property in conjunction with a purchase price substantially less than the currently assessed value of the property. Purchasers are encouraged to contact the Maryland State Department of Assessments & Taxation concerning the appeals process, and may see the following link for helpful information:
https://dat.maryland.gov/realproperty/Pages/Assessment-Appeal-Process.aspx

SUMMARY TERMS OF SALE:
Please see contract of sale for complete terms.
A 10% deposit, payable by cashier’s check, will be required of the Purchaser at time and place of sale. 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. All adjustments, including taxes, condominium fees, 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 settlement 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, and subject to the Declaration and By-laws of The Federal Hill Atrium Condominium. Purchaser assumes the risk of loss from the date of contract forward. The Purchaser waives and releases the Seller, the Auctioneers, and their respective agents, successors and assigns from any and all claims the Purchaser and/or its successors and assigns may now have or may have in the future relating to the condition of the property, including but not limited to the environmental condition thereof. The Purchaser agrees to waive the right of rescission under Maryland Condominium Law, having received and reviewed the Condominium Resale Package. 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. Time is of the essence. A 5% buyer’s premium will be added to the final bid price.