October 3rd, 2017
First of the Four Seasons condos close for total of $15M
Originally published October 2, 2017
By Baltimore Business Journal
Charlie Hatter says luxury real estate in Baltimore is hot and he has the numbers to prove it.
Hatter, charged with selling the Four Seasons Hotel and Residences, said he has closed on four units at an average price of $4 million, or $1,200 per square foot — a figure he says sets a new record for Baltimore. At least two of the buyers have already moved in.
“It takes Baltimore to a level financially and from a quality perspective that Baltimore has never seen before,” said Hatter, a principal with Prime Building Advantage.
The 62-unit Four Seasons residential project is nearing completion above the waterfront Four Seasons Hotel in Harbor East on floors 19-27. The condos start above $900,000 and the 6,500-square-foot penthouse unit is priced at $12.5 million. The penthouse boasts 12-foot ceilings and, of course, spectacular views of the city.
Hatter said he had met with multiple prospective owners of the penthouse. In total, he said one-third of the units at the Four Seasons development are in contract or nearing contract, but he declined to reveal an exact number.
The Four Seasons property is owned by the family of the late H&S Bakery head John S. Paterakis Sr. under its Harbor East Management Group and H&S Properties Development Corp.