Castle Lanterra Unveils New Details for its 222 Saratoga Apartment Project In Baltimore
- May 07, 2015
At the start of the year, Castle Lanterra Properties entered the Baltimore market with the purchase of the apartment building at 222 E. Saratoga Street from RWN Development Inc., for $13.5 million. At that time, the New York-based company said it planned to improve the property. Now, it has revealed more details about the project.
In a news release, Elie Rieder, founder and CEO of Castle Lanterra, said that 222 Saratoga was originally constructed as an all-concrete bomb shelter, at the start of the last century. It later became a warehouse, and, finally, an apartment building, in 2004.
The nine-story elevator building offers 80 one- and two-bedroom units. These are some of the largest apartments in the submarket, ranging in size between 1,100 and 1,600 square feet of space. And the owner also said that more units can be added to the property, by repurposing and reconfiguring the existing space.
According to Elie Rieder, Castle Lanterra will enhance the on-site amenities and add a sizable fitness center, a lounge, a business cafe and a large leasing office. The property already features an underground parking lot.
Castle Lanterra did not reveal how much it plans to invest in the project or a timeline for construction.