The Four Seasons Private Residences Baltimore are officially on the market, with 20 units already under contract.
The 62 condos, with prices starting at $1 million, are located on top of the five-star Four Seasons Hotel in Harbor East overlooking the waterfront. By adding nine-floors to the original 22-story structure the Four Seasons becomes the tallest building in Harbor East.
“Reflecting the modern character of the Harbor East neighborhood, Four Seasons Private Residences Baltimore introduces a new caliber of luxury living that will redefine the Baltimore landscape,” Charlie Hatter, co-partner at Prime Building Advantage said in a news release. “The number of residences already under contract has certainly surpassed our expectations and truly reflects the demand for these one-of-a-kind impressive homes.”
The properties offer layouts that range from 900 feet to 6,000 square feet. The homes will also feature ceiling heights between 10 and 12 feet high with the number of bathrooms ranging between one and five.
The residential units will have a private entrance and 24-hour doorman. Residents will also be able to choose from a la carte services including in-residence dining and catering; housekeeping; grocery and flower provisions; car service; and personal pet and child care.
Currently six model homes are under construction and a grand opening is being planned for the spring once they are complete.
Four Seasons Private Residences officially go on sale at an interesting period in Baltimore’s condo market.
According to Delta Associates 2015 fourth quarter report, the typical new condo unit in Baltimore has been on the market for more than seven years. Only four projects, including the Four Seasons, have started marketing after 2010.
There were only 130 new condo sales in the entire Baltimore metro market last year. That’s a 10 percent decrease from 2014.
The report also notes that the Four Seasons Private Residences are the only new delivery in the city and that high-end luxury properties “typically sell at a slower pace than middle-market units.”
Despite the negative outlook for the condo market, the developer previously expressed confidence that this product is so different that larger market trends don’t really apply.
“The product itself is so different … we’re not throwing another product into the mix that’s similar to the ones that have been sitting. It’s a completely different price point, different amenities, different services,” Jason Huss, development director at Harbor East Management Group, said last July.