News & Notes

Multi-Family Sale in Annapolis

September 27th, 2022

HYATT COMMERCIAL ANNOUNCES SALE OF ANNAPOLIS MULTIFAMILY BUILDING

Hyatt Commercial is pleased to announce the off-market sale of the ±8,238 SF multifamily property at 219 Hanover Street in Annapolis. The 11-unit building includes (8) 1-bedroom apartments, (2) studio apartments, and (1) 2-bedroom apartment.  The property, sitting directly across from Gate 3 of the Naval Academy, offers incredible views of the Naval Academy campus and provides quick access to all that Downtown Annapolis has to offer.

John Gallagher and Justin Mullen were engaged by the seller and were able to quickly source the Buyer who paid $2,215,000 for the property. The off- market transaction marked the first sale of the property in over 45 years.

Gallagher stated, “Multifamily product continues to be an attractive and highly sought-after asset class. The outstanding location and significant value-add opportunity produced immediate interest from prospects, and we’re pleased with the outcome.”