Harbor Bank of Maryland, denied earlier this year in its attempt to buy the former Vermont Federal Building next door, plans to do the next best thing by leasing it after it is sold to another buyer at the end of the year.
The company signed a lease last week to occupy the vacant building, at 25 W. Fayette St., and give up its current headquarters at 21 W. Fayette, according to officials representing the bank and the people who bought the building.
Household Bank F.S.B., the former owner of the 49,000-square-foot building, signed a contract this week to sell the building to Baltimore real estate investors Samuel Boltansky, Larry Boltansky and Israel Freedman, who are principals in the Bofree Limited Partnership.
The building will be renamed the Harbor Bank Building.
Earlier this year, Harbor Bank had a contract to buy the building for more than $1 million, but it fell through when Maryland's bank commissioner rejected it because it would have constituted an unacceptably large investment in real estate.