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American Management Sells Multifamily For 1.5 Million
12/03/2009

American Management Sells Multifamily for $1.5M AIRS Buys 16-Unit Property By Christine Dorr December 1, 2009 American Management sold an apartment building in Baltimore, MD, to Empire Homes of Maryland, an affiliate of AIRS, for $1.5 million, or about $93,750 per unit. The 13,905-square-foot multifamily building contains 15 residential units and one retail/office space unit. The building was constructed in 1900 and was renovated in 1995. At the time of the sale, the building was fully leased to subsidized tenants. AIRS provides supportive housing services for low-income families, homeless families, families living with or at risk of HIV/AIDS or other disabilities. Ben Frederick of Ben Frederick Realty Inc. represented both the buyer and the seller. For additional information, please refer to CoStar COMPS #1825475.
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