The former Boccaccio restaurant property in Little Italy sold in an online auction on Wednesday for $1,442,000.
After a last-minute flurry of bids, the top offer was $1.4 million. A three percent transaction fee brought the total price to $1,442,000. The buyer’s identity was not immediately disclosed.
The sale included a nearly 9,000-square-foot restaurant building and a 20-space parking lot at 923-937 Eastern Ave. The 0.318-acre property was put up for auction by heirs of Peter Angelos, the former Orioles owner who acquired it in 2010. It’s one of the last parcels from a once-sizable real estate portfolio that Angelos amassed before his death in 2024.
Boccaccio was an upscale dining establishment that opened in 1992 and closed after owner Giovanni Rigato died in 2008. It was one of Angelos’ favorite restaurants, but Angelos never did anything with it after he bought it, and the two-story restaurant building has been vacant for the last 15 years.
The land is zoned for commercial development, which could include offices, stores, restaurants, housing or a combination. It’s one block west of the Bagby Building, where Baltimore Sun Media moved its newsroom last fall.
The two-day auction was handled by Ten-X in conjunction with the Baltimore office of JLL. It was conducted on the LoopNet.com website, starting on Monday and ending on Wednesday.
The starting bid on Monday was $225,000. As of early Wednesday morning, the top bid was $625,000. By 11 a.m., the top bid was $1.025 million. When the figure reached $1.25 million, the auctioneers posted a message online that the bids had exceeded the reserve figure set by the seller and the property would definitely be sold. The 12 noon bidding deadline was extended several times until bidding stopped at $1.4 million.
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