The Vacant House and…the Large Multinational Corporation?

Who knew one house could be worth the time and trouble of a large multi-million dollar corporation?  Apparently this one is.

Property Address:  1842 McHenry Street, Baltimore, MD 21223

Property Owner: (And this is where it gets tricky…see below the photo.)  1842 McHenry St, LLC, 1701 Kalonamia [sic] Rd NW, Baltimore, MD 20009 (the address is actually 1701 Kalorama Road NW, Washington, DC 20009). (Corporate charter for 1842 McHenry St LLC has been forfeited).

Resident Agent for 1842 McHenry St, LLC:  TMG21223, LLC, 1700 W. Pratt Street, Baltimore, MD 21223 (Offices for 1842 McHenry St, LLC are also listed as 1623 Ramsay Street, Baltimore, MD 21223).

1842 McHenry Street

Now here’s where it gets weird. There’s a chain of shell LLCs that own this house, and each other.

1.  1842 McHenry St, LLC (corporate charter forfeited)- their “offices” are located at 1623 Ramsay Street, which is owned by another shell:

2.  1106 W Pratt Street, LLC.  1623 Ramsay is a random rowhouse in a sketchy part of SW Baltimore, near Wilkens Avenue.  The shell LLC has been dissolved, and also shared the same 1701 Kalorama Road address as 1842 McHenry St, LLC.

3.  The resident agent for 1842 McHenry St, LLC is TMG21223, LLC — located at 1701 W. Pratt Street, Baltimore, MD 21223.  The resident agent for TMG21223, LLC is listed as Patricia Washington, 1415 W. Baltimore Street, 21223 — and this appears to be a vacant storefront.

4.  1701 W. Pratt Street is owned by…none other than TMG21223, LLC — this time, their address is listed as 11 E. Chase Street, Baltimore, MD 21202 — a very grand, yet abandoned, apartment building in Mt. Vernon.

5.  11 E. Chase Street is owned by Daejan 11 E Chase, LLC, 1651 Coney Island Avenue, Suite 4, Brooklyn NY 11230 and 6800 Liberty Road, Baltimore, MD 21207.  Resident agent, Samuel Horowitz, same address.

6.  Daejan 11 E Chase is owned by Daejan Holdings, a large property investment firm based in London, that owns hundreds of millions of dollars worth of real estate in the US and across Europe.  They also received almost $2 million in Sustainable Communities Tax Credits from the state of Maryland to rehab 11 E. Chase.

Frankly, it’s a little surprising the state of Maryland would grant tax credits to a foreign holding company that doesn’t have a great track record for managing co-op buildings.  Their corporate structure and business practices have also come into question in the UK.

From a tatty abandoned rowhouse in SW Baltimore to large buildings worth millions…someone needs to follow the money.  Stay tuned!

 

3 comments

  1. Pete from Highlandtown

    Since when does it take 2 million dollars to rehab a house in Baltimore? Does the State do any research before they hand out tax credits like that? I wonder if they were able to use the tax credits on thier other houses?

    • slumlordwatch

      The $2 million is a tax credit to renovate the large empty apartment building. Supposedly the total costs are to run as high as $9 million. It’s a huge building — 11 E. Chase Street. You should go look at it.

    • slumlordwatch

      And hopefully the state hasn’t given them anything yet, since no work has been done on the building yet.

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