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Downtown office tower sells to local firm for $55.1M less than 2018 deal

July 19, 2023
Tall buildings in baltimore city

1 E. Pratt St. has sold for $55.1 million less than it last traded for — marking the second office tower in Baltimore’s central business district to change hands this summer at a steep discount as the troubled local office market resets. MCB Real Estate shelled out $25 million for the 10-story office and retail development at Pratt and Light streets, according to three sources familiar with the transaction that is not yet recorded in state property records. The tower last sold in March 2018 to a subsidiary of Banyan Street Capital for $80.1 million, records show.

Article Source: Baltimore Business Journal

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