LIVE ON TOP.

You've missed your chance

  • Baltimore Business Journal 

You've missed your chance to live at the top of a former grain elevator.

Both 5,000-square-foot penthouses at Silo Point in Locust Point have sold within the last three months, with one closing just last week. 

That's according to Eric Turner, developer of the project and son of Patrick Turner, of Turner Development Corp., which redeveloped the silo in 2009.

The model unit of the sky-high properties sold fully furnished for $2.6 million at the end of June. The penthouse had been listed for $2.99 million. The other settled for $2.3 million.

Turner declined to disclose the buyers. One of the buyers, Turner said, is an "A lister," or someone recognizable.

The modern two-story penthouses, on the 23rd and 24th floors, feature sweeping views of the Baltimore skyline and harbor, floor to ceiling walls of glass and steel, three en suite bedrooms, a kitchen with Wolf, Sub Zero and Thermador appliances and a soaking tub.

Turner didn't start actively marketing the penthouses until a majority of the other 226 units at Silo Point sold. He said Turner Development was waiting for the market to get stronger for such high-end properties.

"Once we released them, we really pushed hard to get them sold and brought through the who's who of Baltimore to take a look at them," said Turner, noting that Silo Point is now sold out.

Buying the condos also gives you access to the concierge services, fitness center, sky lounge, yoga and 24-hour staff.

Paul Sudano of Monument Sotheby's International Realty represented Turner in the sales.

The $165 million Silo Point development is located on 7.5 acres at 1200 Steuart St. The former grain terminal elevator originally built in 1923 for the Baltimore and Ohio Railroad. It was designed by architects at Parameter Inc.

The grain elevator of the structure still stands and is listed on the National Register of Historic Places. 

"We’re very proud of the project," Turner said. "It’s going to be there forever, and to build something to leave a mark well after we’re gone...people really appreciate the building and love it and understand it. People bought here for a reason. They were buying the experience."

The condos are among a wave of luxury penthouses to hit the Inner Harbor market over the past few years. The most expensive is the $12.4 million penthouse atop the Four Seasons in Harbor East. It dropped $100,000 from its original listing price of $12.5 million.

That puts it just below Cal Ripken's house in Worthington Valley, which hit the market on Sept. 21 at $12.5 million.