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Liberty Harbor East developers set to deliver residences

Tom S. Bozzuto, chairman and co-founder of The Bozzuto Group, speaks to guests at the Renaissance Harborplace Hotel in Baltimore after being named the 2018 Business Leader of the Year by the Sellinger School of Business and Management at Loyola Maryland University. (Photo by Larry Canner Photography)

Tom S. Bozzuto, chairman and co-founder of The Bozzuto Group. (Photo by Larry Canner Photography)

The development team behind the 22-floor Liberty Harbor East expects tenants to move into the apartment portion of the mixed-use project in Baltimore’s Harbor East this month and has launched sales of the tower’s condos.

Tenants, so far, have rented roughly 38% of the building’s 282 apartments after leasing started in April. Work on the structure, estimated to cost $170 million and developed in a partnership between The Bozzuto Group and Harbor East Management, started in the fall of 2016.

“Liberty embodies the best of Baltimore with its vibrant personality, industrious history, and pioneering spirit,” The Bozzuto Group said in an announcement.

Sotheby’s International Realty handles listings for Harbor East’s 33 condos. Prices for those units start in excess of $500,000 and range upward to $4 million for the tower’s three-bedroom penthouse on the 16th and 17th floors overlooking Baltimore’s harbor.

The condo units at Liberty Harbor East add to the supply of luxury co-op units in the Harbor East neighborhood. Harbor East Management Group previously built 62 condos at The Four Seasons’ private residences. Condos in that building entered the market selling between roughly $800,000 and $12.5 million.

Amenities at Liberty exclusive to the condominiums include concierge services, a dedicated entrance and a communal kitchen. The ninth floor of the property provides amenities available to all residents, including a pool overlooking the waterfront, private dining space and fitness area with yoga studio.

Grocer Whole Foods plans to relocate its current location in Harbor East to a new 50,000-square-foot space at street level in the Liberty building. Bozzuto expects the new store to open in early 2020.

Liberty Harbor East was named in part for the cargo vessels built on the site during World War II at Bethlehem Steel’s Fairfield Yards.

It’s also named in honor of Liberty Tsakalos the daughter of H&S Bakery Founder Isadore “Steve” Paterakis and sister of John Paterakis, the late developer behind Harbor East.

Liberty Harbor East’s developers held a groundbreaking ceremony for the building shortly after Paterakis’ death in 2016.

Baltimore elected officials, such as former Mayor Stephanie Rawlings-Blake, and Paterakis’ business partners used the event to praise the man’s legacy.

During that ceremony Toby S. Bozzuto, president and CEO of The Bozzuto Group, told a story about earlier in his career working on a project in Reisterstown with Paterakis.

After experiencing what he called “soil problems,” Buzzuto was in the uncomfortable position of calling Paterakis asking for more money.

“I invited you to the dance, so let’s dance,” Bozzuto recalled Paterakis telling him as an expression of confidence.

 


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