Every week we seem to hear announcements of new buildings being built in Downtown Detroit or renderings for the redevelopment of historic buildings in Corktown. New residential construction in Brush Park and Corktown is exploding while New Center looks primed to be the next big residential center in Greater Downtown Detroit. While some think this is a temporary trend, a survey by the Downtown Detroit Partnership finds that 10,000 new residential units will be needed in the next five years to keep up with demand. While Detroit still has a lot of catching up to do compared to other major cities, a recent report by Realator.com states that the Motor City is in the top 20 “hottest” real estate markets at the moment.
Today we’re looking at the most expensive lofts currently for sale in Detroit. Loft apartments and condos are generally defined as having wide, open spaces devoid of internal walls, usually with high ceilings and exposed bricks in former warehouse and industrial settings, but many definitions exist. Take a look below.
$1,499,000 2959 John R St, Detroit, MI 48201
$340 per square foot 4,400 square feet
This 2 bed, 2 bath loft in Brush Park features a 2 car garage, outdoor balcony, high ceilings with large windows, private rooftop access, and a master bathroom with a jacuzzi tub.
$1,398,000 1535 6th St #6, Detroit, MI 48226
$233 per square foot 6,000 square feet
A massive loft in Corktown containing 3 bedrooms and 3 bathrooms, this is the epitome of luxury lofts. Located steps from some of the hottest bars and restaurants in the city, this spot in the former Westinghouse appliance warehouse features “a gourmet kitchen with Wolf and Miele appliances, original hardwood floors with inlaid tile mosaics, 360 degree views of the city, and indoor parking for 3 cars.”
$1,295,000 444 W Willis St #504-05, Detroit, MI 48201
$396 per square foot 3,270 square feet
A stone’s throw from Woodward Avenue in Midtown, this 4 bed, 4 bath loft is actually a combination of two penthouses with more than 800 square feet of private outdoor terrace. Three indoor parking spaces are included.
$1,250,000 2987 Franklin St # W, Detroit, MI 48207
$312 per square foot 4,000 square feet
Located in the Rivertown-Warehouse District, this unique 3 bed, 4 bath loft comes with a 2,400 square foot private patio, a wood burning fireplace, a Sevant home stereo system, fingerprint-accessed doors, and travertine marble and tumbled French porcelain throughout the bathrooms and kitchen. A definite must see!
$889,000 64 Watson St # 5, Detroit, MI 48201
$506 per square foot 1,754 square feet
A luxury loft located in the Brush Park neighborhood, this 2 bed, 2 bath loft features a kitchen with polished quartz countertops, Rocket Fiber internet, a built-in library wall, private outdoor space, and terraces with views of downtown Detroit. Expected to be completed by fall or winter of 2018.
By Jared Hoffman
Research Associate, JMJ Phillip Group