Stalking Horse, along with its 7,386 sq. ft. building at 26-30 E. Cross St., will be offered at an Alta Realty Company auction on March 19th. Stalking Horse remains open and will continue to stay open if a sale is not made. The auction has a minimum reserve of $700,000.
Stalking Horse opened in 2007 and is owned by Jen Reda and Erica Knapp. The building is owned by Marc McFaul, who is also a partner in the Ropewalk brand of restaurants. Ropewalk has locations in Federal Hill, Fenwick Beach (DE), Ocean City (MD), and Chincoteague (VA), and will soon be opening locations in Bethany Beach (DE) and Long Beach Island (NJ). Ropewalk in Federal Hill is in its 23rd year and McFaul said it continues to be a popular place.
McFaul said the team is putting Stalking Horse on the market to “see what happens.”
“If it doesn’t sell, it doesn’t sell,” said McFaul. “We’ll stay open – the business is paying for itself and going along fine.”
He said the team would also be willing to sell just the business for around $650,000.
McFaul said the reason for the potential sale is to put more focus on its Ropewalk “family-friendly beach restaurants,” which he said are doing very well.
“We are getting older and we like the beach thing,” said McFaul. “All of our new places have playgrounds. We’ve done more food at Stalking Horse, but it has proven to be more of a nightlife place and that’s not the direction we are going.”
McFaul said that they will not sell Stalking Horse to just anyone. “We want something good in there and we don’t have to sell,” he said. “Whatever opens will have an impact on our business down the street.”
Stalking Horse includes three finished floors, six bars with up to 16 beer taps, a kitchen with a pizza oven, 22 televisions, and a BD7 liquor license that does not have a food requirement. The listing highlights Stalking Horse’s location across from Cross Street Market and the market’s upcoming renovation, and its close proximity to the Inner Harbor, stadiums, and public transportation stops.
McFaul said that interest has already been high since news of the auction went public.
Stalking Horse’s first floor was rebranded as Whiskey Hill in late 2016, but the entire space changed back to Stalking Horse in 2017. McFaul said last year that the name change caused some confusion and a slump in business.
Stalking Horse joins now-closed Boiler Room as Cross St. bar/restaurants available at auction. Federal Hill’s Regi’s American Bistro is also listed for sale, but remains open. Metropolitan, also in Federal Hill, recently closed and the former space will likely be offered for sale.
Photos courtesy of Alta Realty Company
via http://www.southbmore.com/2018/01/22/federal-hills-stalking-horse-up-for-auction-currently-remains-open/
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