Memories of a decent plate of pasta in Little Italy was a primary factor that drove top Washington, D.C. investor Norman Jemal to enter the Baltimore market and buy the Kimpton Hotel Monaco Baltimore Inner Harbor. The managing principal of high-profile Douglas Development said Tuesday he became smitten with the city after years of regular dinners at Sabatino’s with his father. He recently saw a good deal in the making with the availability of the Hotel Monaco, and decided to invest in the historic property at 2 N. Charles St. and lead its turnaround out of foreclosure.
Why did Douglas Development buy Kimpton Hotel Monaco? Little Italy pasta was involved.
March 24, 2022