Nearly entire city block on Baltimore’s west side sells for $48.4M at auction

Nearly an entire block downtown sold back to its lender for $48.4 million on Tuesday after a public auction on the courthouse steps drew a bidding war. Two bidders drove the price of the three large parcels up from the opening bid of $45.7 million during the 30-minute auction. A representative for the lender, Fannie Mae, successfully bid $48,425,000 to retain title to the properties in a bidding war against a group of investors from Chantilly, Virginia.