REAL ESTATE AUCTION
- Baltimore, Maryland -


CANTON HISTORIC DISTRICT
DEVELOPMENT PARCEL

Approved For
17 - TOWNHOUSE SUBDIVISION
Known As
"CANTON PEAKS"
The Highest Point in Canton


Photos of auction property
Concept Drawings:    FRONT      REAR      SIDE

Sale On Premises
3412-3428 FLEET STREET
Situated Between the 500 blocks of
S. Highland Avenue & S. Conkling Street 21224

WEDNESDAY, JUNE 7, 2006
AT 11:00 A.M.


PROJECT:

"Canton Peaks" is an approved townhouse subdivision located on the site of an East Baltimore warehouse building. The fully approved development includes 17 luxury townhomes arranged along a central courtyard, known as "Canton Court." Building plans include 3 bedrooms, 2 full and 2 half-baths, an elevator and two-car garage. The site is approximately 116' above Baltimore Harbor, which creates spectacular water views from each home's roof terrace and party room.

The auction presents a rare opportunity to purchase a ready-to-build project in one of Baltimore's most desirable renaissance neighborhoods. The purchaser will have the option of buying the fee simple interest or acquiring Canton Peaks, LLC, the limited liability company selling the site.

Information available for review:

  • Building Permits for 17 townhomes
  • Approved Construction Drawings by Penza Associates Architects
  • Color Architectural Renderings
  • Baltimore City Zoning Approval for the project
  • Baltimore City Final Subdivision Plan Approval
  • Public Works Developers Agreement
  • Estimate from General Paving & Contracting, Inc. for building demolition, grading, sediment control, sanitary sewer, public water and paving
  • Second demolition estimate from The BERG Corporation
  • Articles of Incorporation of Canton Peaks Homeowners' Association, Inc.
  • Articles of Organization and Operating Agreement of Newstar Development at Canton Peaks, LLC, now known as Canton Peaks,LLC
  • Phase I Environmental Assessment and Asbestos Sample/Analysis Survey by CNA, Inc.
Documents will be emailed upon receipt of an executed Confidentiality Waiver Form or may be inspected by appointment with the Auctioneers, phone 410-752-8440.
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LOCATION:

Canton Peaks is located between Baltimore Harbor and Eastern Avenue in the Canton National Historic District. The site is within walking distance of Canton Square restaurants and shops, Boston Street, Waterfront Park, Brewers Hill and the Highlandtown business district. Development sites in the area are very difficult to find. The neighborhood is convenient to I-95, providing excellent highway linkage to employments centers in the Baltimore and Washington metropolitan areas.

LOCATION MAP & DIRECTIONS

Link for Canton neighborhood description:
http://www.livebaltimore.com/nb/list/canton/

SITE:

0.54 acre, fronting approximately 155' along the north side of Fleet Street, approximately 90' east of S. Highland Avenue, with a depth of approximately 150'. Dimensions, square footage and acreage contained herein are more or less. The site is comprised of Lots Nos. 7A, 8/10 and 10A, on Baltimore City Block 6424. The property is currently improved by one story masonry warehouse building, formerly occupied by Gallo Clothing.

BALTIMORE CITY BLOCK PLAT

Aerial Photo:
Photo of

PLANNED
HOMES:

Brick front elevator townhomes, arranged along the east and west sides of the planned Canton Court. As currently designed, each home would contain approximately 2,500 to 2,800 square feet of living area, as follows:

Ground Level - two-car garage, storage closet, optional elevator, separate front entry foyer

First Level - living room, dining room, kitchen, powder room

Second Level - 2 bedrooms, full bath, washer/dryer

Third Level - master bedroom suite with luxurious full bath and walk-in closet

Terrace Level - party room with wet bar, optional powder room, roof terrace

FLOOR PLANS (pdf)

SITE PLAN (pdf)

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ZONING:

B-2-3, Community Business District. The residential use is permitted and all necessary variances have been approved.

TITLE:

Deed reference for 3412-3416 and 3420-3428 Fleet Street - Liber 7107, Page 616. Confirmatory Quitclaim Deed reference for a small lot known as Lot No. 7A, Block 6424 - Liber 7107, Page 623. The property will be sold free and clear of liens.


TERMS OF SALE

       A $100,000 deposit, payable by certified check or cashier's check, will be required of the purchaser at time and place of sale. The deposit shall be increased to 10% of the purchase price within 24 hours at the Auctioneer's office. Balance to be paid in cash within 45 days. If payment of the balance does not take place within the specified time, the deposit shall be forfeited and the property may be resold at the risk and expense of the purchaser. Interest to be charged on the unpaid purchase money, at the rate of 12% per annum, from date of sale to date of settlement. All adjustments, including taxes, all other public charges and assessments payable on an annual basis, and sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of sale and assumed thereafter by the purchaser. The property will be sold in "AS IS" condition, and subject to easements, agreements, restrictions or covenants of record affecting same, if any. The purchaser waives and releases the Seller, the Auctioneers, and their respective agents, successors and assigns from any and all claims the purchaser and/or its successors and assigns may now have or may have in the future relating to the condition of the property, including but not limited to the environmental condition thereof. If the Seller is unable to convey good and marketable title, the purchaser's sole remedy in law or equity shall be limited to the refund of the deposit. Upon refund of the deposit this sale shall be null and void and of no effect, and the purchaser shall have no further claim against the Seller or Auctioneers. Recordation costs, transfer taxes and all costs incidental to settlement, to be paid by the purchaser. Time is of the essence.

       Drawings and documents pertaining to the development of "Canton Peaks" will be delivered at settlement. Purchaser may be required to replace the $53,255 Letter of Credit required under the Public Works Developers Agreement.

NO BUYER'S PREMIUM.

Broker Participation is invited.
BROKER REGISTRATION FORM