U.S. Appraisers' Stores building in downtown sells for $8.2 million

U.S. Appraisers' Stores building in downtown sells for $8.2 million

The U.S. Appraisers' Stores property in downtown sold for $8.2 million last week, after nine groups submitted bids for the federal site.

The purchaser was not disclosed in the online bid records. A spokeswoman for the General Services Administration, which handled the auction, said the buyer would not be named until the sale is finalized, which is expected in the next few weeks.

The GSA first said it planned to dispose of the 103 Gay St. building in 2010, citing its repair needs. The last tenant of the Depression-era federal building, where customs officials once inspected goods, left in November.

The online auction opened in March and closed July 4, a day after "Bidder #08" submitted the high bid of $8.2 million.

The eight-story, 169,801-square-foot building is valued at about $10.4 million for tax purposes. Some of its features, including the marble lobby and brick-and-limestone facade, are protected under the terms of an agreement with the Maryland Historic Trust.

nsherman@baltsun.com

This post has been updated with comment from GSA.

 

 

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