Historic Baltimore Landmark Opens as Apartments

Another downtown Baltimore office building has been converted into apartments and is now ready to receive its first residents.

Equitable BuildingAnother downtown Baltimore office building has been converted into apartments and is now ready to receive its first residents.

The Equitable Building, at 10 N. Calvert St., was originally constructed in 1891 and is considered Baltimore’s first skyscraper. Once an office property, it is now home to 189 apartments.

JK Equities, the developer, purchased the historic property in late 2013, from the Equitable Holdings Trust, for $7.2 million. Soon after the acquisition was closed, the Long Island, NY-based company announced its intention to redevelop the building and turn it into apartments.

The cost of the project was $32 million.  It was financed with the help of a $21.5 million loan from Wall Street firm Natixis Global Asset Management.

According to the Baltimore Business Journal, the renovation maintained many of the nine-story building’s historic features, such as the original lobby or the marble stairwells. Amenities at The Equitable include a fitness and yoga studio, conference rooms, business center and rooftop dog park. The newspaper also said that rents start from $1,342 per month for a 500-square-foot apartment.

JK Equities has hired Bozzuto Management Co. to manage the 225,000-square-foot building. Leasing started in February. The first tenants moved in on June 22.

Photo credits: JK Equities