The historic Hotel Brexton in Baltimore’s Mount Vernon is going up for sale. The existing owner has said in the BizJournals that he is accepting any and all offers for the 7-story historic property that was once the home of Wallis Warfield Simpson. She was a famous divorcee who was in a highly publicized romance with King Edward VIII where he gave up the throne to marry her.
The hotel is located at 868 Park Avenue in Baltimore and underwent a $7.5 million renovation by the current owner, Richard Naing of the RWN Development Group. The hotel has 29 rooms, sat vacant for over 2 decades, and is listed on the National Register of Historic Places.
What’s it take to own a historic hotel in Baltimore? Looks like Richard is requiring a deposit of $150,000 and a 30 day close while being willing to finance up to 65% of the final purchase in an owner financing relationship. RWN Development Group is currently selling off their entire portfolio and has already divested 3 other sites in the last year.
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