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Berkshire Hathaway HomeServices The Loft Warehouse

Condo Market Report Downtown Detroit

June 30th 2018

DEVELOP WITH CONFIDENCE Contents

Introduction Market Outlook Development Map Desirability Analysis Development Markets

• New Development Market

• Hybrid (New + Resale) Development Market

• Resale Development Market

Welcome to our Detroit Condo Market Report! This report is aimed at listing all significant condominiums project in Detroit, and organizing essential information about them so that buyers. sellers, developers and real estate agents can use it to quickly find relevant information and aid in their decision making process. It includes key metrics such as sold price per sf, desirability index, as well as a list of the most recent sales, with unit size, price, and close date.

We hope it becomes an essential tool for anyone already involved in our very dynamic and growing market, as well as an exciting introduction for those considering a move to our City either a new residents or as investors and developers.

Definitions • New Development - A project that is new to the market and has never been sold before. Only projects that are publicly offered for sale are reported. Contact us to learn more about upcoming developments. • Hybrid (New + Resale) Development - A project where both developer sale and existing owner sales happen at the same time. • Resale Development - A project that was sold out by its developer and only has existing owner sales. • Average Absorption - Units sold per month over last ten sales or last three years. • Launch Year - Year that closings started or that closings are expected to start for new developments. • Sold Out Year - Year when the last developer owned unit was sold. For older projects this is often an estimate. • Average Listing Price/SF - This is applicable only to new developments, and represents the average of the price per square foot of the units that are publicly marketed at the time this report is issued. It does not include the price per square foot of units under contract and not yet closed, as this is not public information. • Address - When a development has multiple addresses (as is typical for townhome developments for example) the unit number is a short form of the street address comprised of the street number followed by a letter code indicating the street. • Condominiums/Cooperative - This report only covers condominiums in the city of Detroit and excludes cooperative units that are usually bundled with condominiums on the MLS. Due to the specific type of ownership and ownership restrictions, the cooperative market does not follow the same dynamic than the condominium market. • Desirability Index - The Desirability Index reported for resale developments is an average for the units sold during the period. The Desirability Index reported for new developments (units not yet sold) is based on the publicly available information. • Sources - Realcomp II Ltd. is the source of all sale data. Other data is credited to each project specific website and other marketing materials. • Amenities - The visual key below has been used to describe the amenities available for each Development.

Valet Concierge Hotel Storage Fitness Lounge Food Outdoor Parking Pool & Drink

$800 Price/sf vs. Close date

$700 10-year sales history

$600 Book Cadillac

$500

$400 CBD

Midtown $300

Detroit Average

$200

$100

$- 1/1/2008 1/1/2009 1/1/2010 1/1/2011 1/1/2012 1/1/2013 1/1/2014 1/1/2015 1/1/2016 1/1/2017 1/1/2018 1/1/2019

With an average sold price at $225/sf, the Detroit market has confirmed a complete recovery from the 2008 economic crisis and is now well surpassing its historical high. That recovery is lead by the Central Business District (CBD) and Midtown, both neighborhoods well above $300/sf.

The Westin Book Cadillac is still the market leader even in a full resale mode and outperforms even new construction condominiums with an average above $500/sf.

The market dynamic at play for the last few years has been a severe lack of new inventory compared to the accelerating pace of demand. More and more people come and work downtown in the new office buildings being renovated by the likes of Dan Gilbert and his Bed- rock group or for employers that see significant growth such as Meridian Health or Olympia Entertainment. These new employees are attracted to the City where they can now find amenities (especially food & beverage, entertainment) that easily compete with surrounding communities while offering the benefits of a reduced commute.

The residential market started to respond over the last 3 years with an increased supply of rental inventory, but the for sale demand has not been addressed until 2018. We are now seeing the first new condo inventory coming on the market with Selden (12 units), Fort Shelby Residences (56 units) and City Modern (104 units). This lag in inventory response to the market demand combined with the major improvements in the City’s infra- structure, are fueling a sharp appreciation at rates of $50/sf/yr to $75/sf/yr.

E N T M

E A

G F K L A P J B W D D G I X I D U V A B C S H O

R C F C

New Developments Resale Developments A Saint Charles - 1454 Townsend Street A Leland Lofts Q Gramont Manor Condos B The Selden - 438 Selden Street B Lofts at New Center R Westin Book Cadillac Residences C Fort Shelby - 525 W. Lafayette Boulevard C Grinnell Place Lofts S Spinnaker Tower D 9 on 3rd Townhomes - 4402 - 4434 3rd Street D Campau Farm in Elmwood Park T Research Lofts E Cass & York - 5935 Cass Avenue E 55 West Canfield U Garden Lofts F Ashton Detroit - 659 Howard Street F Canfield Lofts V Woodward Place at Brush Park G City Modern - 318 Edmund Place G Stuber-Stone Lofts W Ellington Condos H Franklin Lofts - 2987 Franklin Street H Riverfront Tower Condos X Carola &Lamar Lofts I 64 Watson - 64 Watson Street I Lofts at Rivertown J Indian Village Manor New + Resale Developments K Detroit Towers Condos L Shoreline East Condos A Willys Overland Lofts - 444 W. Willis Street M Park Shelton Condos B Great Lakes Tower - 250 Harbortown East Drive N Art Center Town & Carriage Homes C Garden Court - 2900 Jefferson Avenue O 200 River Place Lofts D Carlton Lofts - 2915 John R. Street P FD Lofts

A Buyer Behavior Model The Desirability Index is a proprietary index developed by Berkshire Hathaway HomeServices The Loft Warehouse, that represents how desirable a property is for a typical buyer. It is a number from 0% (least desirable) to 100% (most desirable), based on a statistical model of buyer behavior extracted from past and current sales data. The desirability index is the cornerstone of a new statistical method to model condominium markets that allows us to predict the sale price of any condominium unit based on its location, finishes and amenities. Changes in the buyer behavior occur because of long term trends in buyer taste and changes in available construction and material technology, but also more rapidly, through the influx of new residents to the City moving from surrounding communities, as well as bringing fresh expectations from other Cities & States. As we update regularly our model, we are able to see trends in buyer behavior such as the continued importance of parking, or the evolution away from industrial lofts toward refined products featuring higher quality finishes. More importantly, we are able to quantify these changes and their impact on perceived value. Market Model The use of the Desirability Index allows us to compute a very simple market model as the relationship between the Desira- bility Index and the Price/sf is linear. By separating the Buyer model from the Market model, we can observe “pure” market changes independently. For example, we are able to detect early any signs of a market change that would be otherwise hidden by the variation of product offered for sale. Our recent observations of the Detroit condo market is that it is progressing slowly (the price/sf for a product of a given desirability does not change much) but that the inventory is shifting quickly toward more desirable product either through the release of new product or improvement of existing resale units. Model Usage

We support developers as they work on the concept for their future product by applying this model. It allows us to precise- ly value and compare various options for finishes and amenities, and fine tune the product design to optimize its cost vs. the expected sale price. The model gives us a deeper understanding of what matters for a buyer and how to best choose a site for a given product, or what product best fits an existing site. The chart below illustrates, as an example, the relative importance of Location, Finishes and Amenities for a condo buyer as of the time of this report. Finally, we have calculated the average Desirability Index for each development in this report and illustrated their relative position on the graph on the next page.

DEVELOP WITH CONFIDENCE Desirability Analysis

$700

$600

R $500

F A B I $400 C G A E F U H W C D $300 D G X H T M O P A V B $200 I

S B N C Q J $100 K L D

$- 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Condo Market Report Downtown Detroit - June 2018 DEVELOP WITH CONFIDENCE Copyright 2018 The Loft Warehouse Inc. New Developments The following section contains sale information and updates for actively selling developments and upcoming condo projects in the Detroit market. Project List: Saint Charles Residences The Selden Fort Shelby Residences 9 on 3rd Cass & York Ashton City Modern Franklin Lofts 64 Watson

Fort Shelby Residences | Residential Lobby Saint Charles Residences

9 on 3rd Townhomes Selden

Address Developer 525 W. Lafayette MCP Development

Boulevard Total Units Average HOA Fees 56 $400-$600/Month

Launch Year Average Absorption 2018 2 units/month

Average Listing Projected Price/SF $314

Fort Shelby Sale Status Located above the Downtown Hilton-DoubleTree hotel, the Fort Shelby Residences offer hotel amenities to its residents, as well as great views of the Detroit River and the downtown 25 closed 9 in contract 22 available skyline. Desirability Index : 58% Available list prices as of June 2018: One Bedroom: Most Recent Closed Sales Starting Listing Price: $300,000+ Size: 939-1173 SF Unit Type SF Closing Price $/SF Closed

Listing Price/SF: $298—$346 11C 1/1 939 $300,000 $319 6/24/18 12B 3/2 1848 $550,000 $298 6/24/18 Two Bedroom: 20B 3/2 1848 $600,000 $325 6/24/18 Starting Listing Price: $365,000+ 17A 2/2 1405 $435,000 $310 5/31/18 Size: 1223-1443 SF 16B 3/2 1848 $548,500 $297 4/23/18 Listing Price/SF: $281—$347 18B 3/2 1848 $533,000 $288 4/23/18

Averages: 1623 $494,400 $306 Three Bedroom: Starting Listing Price: $533,000+ Size: 1848 SF Listing Price/SF: $288—$325

Address Developer 659 Howard Street Eric Means & Brian Holdwick

Total Units Average HOA Fees 96 $123/Month

Launch Year Average Absorption 2020 TBD

Average Listing Projected Price/SF $437

Sale Status Ashton Detroit Located just a few blocks West of the Central Business District Ashton Detroit is an ambitious project as the first 0 closed 9 in contract 87 available high-rise residential building in several decades. Finishes are modern, and reminiscent of big City architecture such as Chicago or Toronto. Desirability Index : 72%

Available list prices as of June 2018: One Bedroom: Starting Listing Price: $267,990+ Starting Size: 602-1063 SF Starting Listing Price/SF: $420—$486

Two Bedroom: Starting Listing Price: $554,752+ Starting Size: 1223-1334 SF Starting Listing Price/SF: $390—$446

Three Bedroom: Starting Listing Price: $835,332+ Starting Size: 1917 SF Starting Listing Price/SF: $436—$443

Developer Address Developer 438 Selden Ferlito Group

Total Units Average HOA Fees 12 $295/Month

Launch Year Average Absorption 2018 1.51.3 units/month

LastAverage Six MonthsListing ProjectedPrice/SF $123Price/SF (123 units) $421

Sale Status The Selden Condominium The Selden is a 12-unit luxury condominium ideally situated near the Woodward corridor in the heart of Midtown Detroit, 9 closed 2 in contract 1 available with easy access to shopping, dining, art and the Q-LINE rail system just a few steps away. Desirability Index : 55%

Available list prices as of June 2018: Most Recent Closed Sales Two Bedroom: Unit Type SF Closing Price $/SF Closed Starting Listing Price: $454,000+ Size: 1155 - 1185 SF 302 2/2 1165 $469,900 $403 4/7/18 Listing Price/SF: $393 - $448 301 2/2 1185 $469,900 $397 4/7/18 304 2/2 1158 $489,000 $422 3/23/18 404 2/2 1155 $518,000 $448 2/20/18 402 2/2 1165 $489,900 $421 1/26/18 401 2/2 1185 $525,000 $443 1/18/18 201 2/2 1185 $469,900 $397 1/17/18 204 2/2 1155 $454,000 $393 1/17/18 Averages: 1169 $485,700 $416

Address Developer 4402 - 4434 3rd Street Confidential

Total Units Average HOA Fees 9 $300/Month

Launch Year Average Absorption 2017 3 units/month

Average Listing Projected Price/SF $299

Sale Status 9 on 3rd A row of nine attached townhouse-lofts with front stoops facing the sidewalk, rear below-grade parking, and brick 3 closed 2 in contract 4 available exteriors. The properties include the features of a loft but the comfort of a town home, exposed brick and high ceilings. Each of the 1,100-square-foot condominiums Desirability Index : 42% offers an open-plan first floor, including a master bedroom on the second floor, as well as a second one that can easily be converted to a studio. Each condo includes a 2-car Most Recent Closed Sales (tandem) attached garage. Unit Type SF Closing Price $/SF Closed Available list prices as of June 2018: 4434 1/1.5 1100 $328,000 $278 4/16/18 Two Bedroom: 4426 1/1.5 1100 $351,800 $320 4/17/18 Starting Listing Price: $312,000+ 4402 1/1.5 1100 $306,250 $298 4/24/18 Starting Size: 1100 SF Averages: 1100 $328,700 $299 Starting Listing Price/SF: $284—$314

Address Developer 5935 Cass Avenue The Platform

Total Units Average HOA Fees 53 $456-$936/Month

Launch Year Average Absorption 2020 TBD

Average Listing Projected Price/SF $550

Cass & York Sale Status CASS & YORK provides the vibrancy of center city living with the scale and composure of an urban neighborhood. It 0 closed 1 in contract 53 available includes ground floor retail with an outdoor plaza. Residential units are planned to accommodate day-to-day comforts while detailed to be modern and distinct. No two units are alike. Desirability Index : 66%

Available list prices as of June 2018: One Bedroom: Starting Listing Price: $395,000+ Starting Size: 890 SF Listing Price/SF: $444—$482

Two Bedroom: Starting Listing Price: $545,000+ Size: 1247-1773 SF Listing Price/SF: $433—$993

Three Bedroom: Starting Listing Price: $850,000+ Starting Size: 1788 SF Listing Price/SF: $475

Address Developer 318 Edmund Place Hunter & Pasteur Homes

(Various) Total Units Average HOA Fees 104 $417-$579//Month

Launch Year Average Absorption 2018 TBD

Average Listing Projected Price/SF $371

Sale Status City Modern City Modern is a largescale project comprising of 104 units, over 3 phases and 3 years of construction. The variety of 0 closed 75 in contract 29 available designs (townhomes, carriage homes and “duplettes”) all in a very contemporary style are very attractive to the modern buyer. Project offers multiple customization options. Desirability Index : 48%

Available list prices as of June 2018: Townhomes Three Bedroom: Starting Listing Price: $865,00+ Starting Size: 2,300+ SF Starting Listing Price/SF: $376

Townhomes Two Bedroom: Starting Listing Price: $747,000+ Starting Size: <2,000 SF Starting Listing Price/SF: <$374

Carriage Home Two Bedroom: Starting Listing Price: $508,000+ Starting Size: 1,400+ SF Starting Listing Price/SF: $363

Address Developer 64 Watson Street Devon Renewal

Total Units Average HOA Fees 5 $234 Month

Launch Year Average Absorption 2018 TBD

Average Listing Projected Price/SF $416

Sale Status 64 Watson 64 Watson is the address of the former Devon building, now demolished to make place for this stately 0 closed 2 in contract 3 available new development. Residences will have dark walnut flooring, private outdoor space, and a garage for residents. Desirability Index : 59%

Available list prices as of June 2018: One Bedroom: Starting Listing Price: $311,710 Starting Size: 854 SF Starting Listing Price/SF: $365

Two Bedroom: Starting Listing Price: $683,400+ Starting Size: 1608-1754 SF Starting Listing Price/SF: $425-$507

Address Developer 2987 Franklin Street On Your Fork LLC

Total Units Average HOA Fees 10 $195-500/Month

Launch Year Average Absorption 2017 <1 units/month

Average Listing Projected Price/SF $305

Sale Status Franklin Lofts These luxury lofts have spectacular views of downtown Detroit, and each has a private rooftop deck, 12-foot 1 closed 5 in contract 4 available ceilings, and exposed brick walls with open floor plans that are perfect for entertaining and relaxation. The professional kitchen includes Miele appliances and Berloni cabinets, and Desirability Index : 38% reclaimed hardwood floors flow throughout the space.

Available list prices as of June 2018: One Bedroom: Starting Listing Price: $224,000+ Starting Size: 602-1135 SF Starting Listing Price/SF: $325

Two Bedroom: Starting Listing Price: $492,000+ Starting Size: 1769-2188 SF Starting Listing Price/SF: $300

Three Bedroom: Starting Listing Price: $532,500+ Starting Size: 2315-4000 SF Starting Listing Price/SF: $230—$350

Address Developer 1454 Townsend Street Banyan Investment

Total Units Average HOA Fees 25 (phase 1) $400/Month 10 (phase 2) Launch Year Average Absorption 2018 TBD

Average Listing Price/SF $415

Sale Status Saint Charles Residences Phase 1 is located in a 1912 school being renovated into 25 condo units. The residences feature large open spaces, 0 closed 10 in contract 15 available abundant natural light from soaring windows, lofty ceilings and luxury finishes. This development includes additional new constructions phases planned in 2019-2020. Desirability Index : 49%

Available list prices as of June 2018: One Bedroom: Starting Listing Price: $365,000+ Size: 933 - 1171 SF Listing Price/SF: $377 - $401

Two Bedroom: Starting Listing Price: $375,000+ Size: 939 - 1636 SF Listing Price/SF: $399 - $498

Parking: Price: $15,000

Condo Market Report Downtown Detroit - June 2018 DEVELOP WITH CONFIDENCE Copyright 2018 The Loft Warehouse Inc. New Development + Resale Market The 2008 economic crisis slowed down considerably the sales effort of developments that opened their doors in the 2006-2008 timeframe. Developers adopted various strat- egies to face the temporary lack of demand for market priced condominiums. In 2016-2018 we have seen a number of these projects selling their developer-owned inventory thanks to favorable market conditions while the original owners were also ac- tive on the resale market having now recovered fully their lost equity. Project List: Great Lakes Tower Garden Court Willys Overland Lofts Carlton Lofts

Carlton Lofts Willys Lofts

Harbortown | Great Lakes Tower Garden Court

Developer Address Developer 444 W. Willis Street GeorgeNorwinds John Development

Total Units Average HOA Fees 75 $240-$440/Month

Launch Year Average Absorption 2006 1231.5 units/month units/month

Last Six Months Price/SF $123$342 (123(9 units) units)

Willys Overland Lofts The Willys Loft building was built in 1912 as a showroom Desirability Index : 49% for the Willys Overland vehicles. The building’s conversion to upscale loft condos is almost complete with only two units Most Recent Closed Sales still available. The Willys Lofts residences range from unique live/work Unit Type SF Closing Price $/SF Closed Sale Type retail spaces to two-story penthouses with 250 square feet, private rooftop terraces, and indoor parking. The building, 414 2/2 1842 $532,500 $289 6/8/18 Resale located in the heart of Midtown and the Cass-Canfield 411 2/2 2292 $825,000 $360 3/16/18 New neighborhood, features common outdoor terraces, an on-site 415 2/2 1388 $492,500 $355 3/16/18 Resale art gallery and boutique shops. 304 1/1 1100 $322,500 $293 2/28/18 Resale 401 2/2.5 2484 $828,000 $333 2/26/18 Resale 313 2/2 1388 $460,000 $331 2/16/18 New 315 2/2 1388 $460,000 $331 2/16/18 New 302 2/2 1356 $455,000 $336 2/16/18 New

515 2/2 2830 $832,592 $294 1/19/18 New

311 3/2 2287 $739,826 $323 9/24/17 New Averages: 1836 $616,800 $325

Address Developer 2915 John R Street Dominic Liburdi

Total Units Average HOA Fees 50 $250-$325/Month

Launch Year Average Absorption 2006 <1 units/month

Last Six Months Price/SF $307 (2 Units)

Carlton Condominiums Located in the former Carleton Plaza Hotel in Brush Park, Desirability Index : 40% The Carlton Lofts contain 50 condominium units that reveal the original architecture of the building in a true loft fashion: exposed brick walls & ceilings, concrete structure & columns, Most Recent Closed Sales and polished concrete floors. The developer added modern Unit Type SF Closing Price $/SF Closed Sale Type finishes such as heated floors, upscale kitchens and bathrooms. Balconies offer great views of Brush Park and Down- 308 2/2 1242 $390,000 $314 4/13/18 New town. 203 1/1 832 $246,000 $296 3/23/18 New Woodward avenue and the entertainment district is just a 302 1/1 870 $259,700 $299 12/15/17 Resale couple blocks away and the Q-Line connects residents easily 307 2/2 1140 $348,000 $305 9/1/17 New with Downtown to the South and Midtown/New Center to the North. 204 1/1 768 $243,000 $316 8/30/17 New 211 1/1.5 1017 $295,000 $290 7/10/17 New 401 1/1 706 $229,900 $326 6/30/17 New 305 2/1 870 $275,000 $316 3/28/17 New

707 2/2 1701 $510,000 $300 10/14/16 Resale

202 1/1 870 $252,000 $290 9/2/16 New Averages: 1001 $304,900 $302

Address Developer 250 Harbortown East Bow River Capital Drive Total Units Average HOA Fees 172 $645/Month

Launch Year Average Absorption 2017 4.5 units/month

Last Six Months Price/SF $229 (10+ units)

Harbortown | Great Lakes Tower This building is located in a gated & secured development Desirability Index : 32% that offers resort-like amenities to its residents. It includes 3 multi-family buildings and a number of townhomes. The complex has a direct private access to the Detroit Riverfront Most Recent Closed Sales walk and its own marina. Unit Type SF Closing Price $/SF Closed Sale Type The Great Lakes Tower is the largest of these buildings, located on the East side of the complex. It has its own 506 2/2 1031 $243,000 $236 6/27/18 New swimming pool and fitness center. The architecture of the 1112 2/2 1214 $250,000 $206 6/22/18 Resale building dates back to 1989 and offers multiple bay 211 1/1 748 $152,000 $203 6/4/18 New windows thus maximizing the fantastic Detroit River views. 902 1/1 748 $168,300 $225 6/3/18 New *For the purpose of this report we have considered as 1302 1/1 746 $187,500 $251 5/30/18 Resale developer sales (marked as “new: in the table below), the 1006 2/2 1031 $259,200 $251 5/6/18 New sale of 95 units that were purchased by an investor and that were never sold individually before. That investor has been 802 1/1 746 $188,400 $253 5/6/18 New working through a project to gradually upgrade all 95 units 1107 2/2 1023 $233,050 $228 5/6/18 New and sell them on the retail market. 311 1/1 748 $169,000 $226 5/4/18 New

209 2/2 1214 $268,000 $221 4/3/18 New Averages: 925 $211,800 $230

Address Developer 2900 Jefferson Avenue Farbman

Total Units Average HOA Fees 66 $262-$681/Month

Launch Year Average Absorption 2007 1 units/month

Last Six Months Price/SF No Recent Sales

Garden Court Garden Court is a 9-story 1915 building by famed architect Desirability Index : 30% Albert Kahn. It offers and great views of Downtown and the Detroit River in a classical architecture style typical of the early 20th century. The building was registered on the Most Recent Closed Sales national registry of historical places in 1985. Closed Unit Type SF Closing Price $/SF Sale Type There were only a few units owned by the developer at the Date beginning of the year and they are now sold. Some home B6 4/3 3000 $375,000 $125 11/9/17 Resale owners have beautifully restored & upgraded their units with D102 1/1 764 $163,000 $213 7/31/17 Resale breathtaking results. B1 3/3 2952 $339,000 $115 7/19/17 New B3 3/2.5 3047 $345,000 $113 4/20/17 New D101 1/1 718 $149,900 $209 3/24/17 Resale A801 1/1 771 $145,000 $188 2/9/17 Resale A701 1/1 771 $140,000 $182 2/9/17 Resale C2A 1/1 1049 $116,970 $112 12/16/16 New A2 1/1 901 $115,000 $128 5/10/16 New

A3 3/2 1893 $215,000 $114 4/1/16 Resale Averages: 1587 $210,300 $150

Condo Market Report Downtown Detroit - June 2018 DEVELOP WITH CONFIDENCE Copyright 2018 The Loft Warehouse Inc. Resale The Detroit condominium market is still largely dominated by resales that represent the very large majority of transactions. Most of these happen in developments that launched in the mid 2000s, most of them resulting from the adaptive reuse of historic structures.

Project List: Leland Lofts Lofts at New Center Grinnell Place Lofts Campau Farm in Elmwood Park 55 West Canfield Canfield Lofts

Stuber-Stone Lofts 200 River place Lofts Riverfront Tower Condos Lofts at Rivertown Indian Village Manor Detroit Towers Condos Shoreline East Condos Park Shelton Condos Art Center Town & Carriage Homes 200 River Place Lofts FD Lofts Westin Book Cadillac Residences Gramont Manor Condos Westin Book Cadillac Residences Harbor Spinnaker Tower Research Lofts Carola & Lauer Condos Woodward Place at Brush Park Ellington Condos Carola & Lamar Lofts Lofts at Rivertown

Address Developer 1135 Shelby Ferchill Group

Total Units Average HOA Fees 65 $570-$2779/Month

Launch Year Sold Out 2008 2014

Last Six Months Price/SF No Recent Sales

Westin Book Cadillac Residences The Westin Book Cadillac Detroit is a histor- Desirability Index : 73% ic skyscraper hotel. Designed in the Neo-Renaissance style, and constructed as the Book-Cadillac, it embod- Most Recent Closed Sales ies Neo-Classical elements and building sculpture, in- corporating brick and limestone. It includes 65 exclu- Unit Type SF Closing Price $/SF Closed sive luxury condominiums and penthouses on the top eight floors. It reopened in October 2008 after com- 2512 2/2 1270 $645,000 $508 10/17/17 pleting a $200-million reconstruction project. Unk 3/2.5 2500 $1,795,000 $718 6/2/17 2501 2/2 1137 $470,000 $413 4/7/17 Residents benefit from the full suite of hotel amenities: private concierge, maid service, room service, 24/7 2709 2/2 1179 $575,000 $488 3/28/17 valet & security and access to the fitness center, swim- 2507 1/1.5 977 $425,000 $435 2/14/17 ming pool, on site restaurants and Starbucks coffee 2606 2/2 1420 $657,900 $463 2/14/17 shop. 2905 3/2.5 4470 $1,200,000 $268 11/1/16 2802 2/2 1277 $575,000 $450 9/23/16 This condominium is the definitive Detroit market leader in price/sf. 2509 2/2 1162 $530,000 $456 7/27/16 2404 2/2 1250 $450,000 $360 6/9/16

Averages: 1664 $732,300 $456

Address Developer 1001 Jefferson & Riverfront Condominium 300 Riverfront 300 Total Units Average HOA Fees 295 $335-$723/Month

Launch Year Sold Out 2006 2008

Last Six Months Price/SF $308 (6 units)

Riverfront Tower Condominiums Riverfront Tower is a luxury high-rise residential community Desirability Index : 45% of Detroit Downtown. These spacious one and two bedroom apartments come with multiple floor plans to suit all needs and tastes. Spectacular views of the Detroit River and Wind- Most Recent Closed Sales sor skyline and easy connection to downtown entertainment Unit Type SF Closing Price $/SF Closed offer residents a great lifestyle.

14 D 1/1 690 $215,000 $312 6/29/18 26 D 1/1 713 $224,900 $315 5/25/18 27 D 1/1 690 $225,000 $326 4/27/18 18 J 1/1.5 793 $220,000 $277 3/30/18 20 D 1/1 713 $210,000 $295 1/12/18 5 I 2/2 1041 $335,000 $322 1/5/18 Unk 2/2 1019 $255,000 $250 12/29/17 29 E 2/2 1491 $380,000 $255 12/29/17 25 F 1/1.5 751 $215,000 $286 12/29/17 21 E 2/2 1019 $311,000 $305 11/21/17

Averages: 892 $259,000 $294

Address Developer 460 W. Canfield Street Canfield Lofts LLC

Total Units Average HOA Fees 35 $262-$375/Month

Launch Year Sold Out 2000 2006

Last Six Months Price/SF $358 (2 units)

Canfield Lofts Condominiums Placed on the national and local historical registries in Desirability Index : 47% 1999, this structure was built in 1921 and occupied by Buick Motor Co. Canfield Lofts feature exposed con- Most Recent Closed Sales crete martini columns throughout, new windows, first- floor parking garage for 22 cars, an outdoor lot, an Unit Type SF Closing Price $/SF Closed 800-square-foot common outdoor roof deck, storage area on first and second floors, an alarm system. 302 1/1 868 $275,000 $317 4/30/18 208 1/1 786 $317,500 $404 3/12/18 Its location makes it the favorite of many Detroiters 309 1/1 1087 $350,000 $322 11/7/17 and it regularly reaches price/sf records. 106 1/1 900 $309,000 $343 10/30/17 304 1/1 1087 $360,000 $331 10/17/17 308 1/1 900 $315,000 $397 5/31/17 208 1/1 786 $250,000 $318 1/26/17 303 1/1 1081 $329,000 $304 10/31/16 104 1/1 914 $330,000 $361 10/25/16 216 1/1 782 $225,000 $288 10/6/16

Averages: 919 $306,100 $339

Address Developer 55 Canfield Street Wayne South University Village Total Units Average HOA Fees 38 $246-$300/Month

Launch Year Sold Out 2007 2013

Last Six Months Price/SF No Recent Sales

55 West Canfield The Lofts at 55 West Canfield is an urban redevelop- Desirability Index : 40% ment of a 1922 warehouse building that features wide open floor plans for flexible usage, exposed structural Most Recent Closed Sales elements, demising walls engineered for sound attenu- ation, and large anodized aluminum insulating glass Unit Type SF Closing Price $/SF Closed warehouse style windows. 206 1/1 922 $286,000 $310 10/20/17 The first floor of the building is occupied by the Bikram 303 1/1 877 $285,000 $325 7/5/17 Yoga studio. 307 1/1 718 $240,000 $334 5/3/17 210 1/1 944 $260,000 $275 10/28/16 302 1/1 911 $272,000 $299 10/25/16 304 1/1 750 $270,000 $360 8/4/16 310 1/1 944 $260,000 $275 6/30/16 Averages: 867 $267,600 $311

Address Developer 4221 Cass Avenue Bob Slattery

Total Units Average HOA Fees 13 $235-$285/Month

Launch Year Sold Out 2006 2016

Last Six Months Price/SF $302 (1 unit)

Stuber-Stone Lofts Located in the national historic district, the Stuber- Desirability Index : 45% Stone building was built in 1916 to serve as a dealer- ship for the Columbia Motor Car Company. These lofts Most Recent Closed Sales feature one-bedroom units w/loft and bath, large open floor plans, 16-foot ceiling heights, as well as two- story lofts. Unit Type SF Closing Price $/SF Closed

1300 2/1 1356 $410,000 $302 6/29/18 700 2/1 1198 $367,500 $307 7/14/17 600 2/1 1872 $345,000 $184 12/13/16 Unk 1/1 1250 $380,000 $304 3/25/16

Averages: 1419 $375,600 $274

Address Developer 15 E. Kirby Street BRG Custom Homes

Total Units Average HOA Fees 227 $258-$924/Month

Launch Year Sold Out 2004 2017

Last Six Months Price/SF $294 (7 units)

Park Shelton Condominiums This is Midtown Detroit unique high rise condominium, Desirability Index : 42% with history, character, mystique, exclusivity, and comfort all in one place. The building is an architectural Most Recent Closed Sales landmark next to the Detroit Institute of Arts, the De- troit Historical Museum and the extraordinary Detroit Unit Type SF Closing Price $/SF Closed Public Library main branch 1921 building. 723 0/1 574 $170,000 $296 6/13/18 The original 1926 Wardell hotel building has been 620 1/1.5 860 $242,000 $281 4/12/18 brought back to its former grandeur, with a thorough Unk 0/1 513 $175,900 $343 2/21/18 structural and thorough interior modernization. It features a grand lobby with a full-time professional staff in 1230 1/1 402 $175,000 $435 2/16/18 attendance. 1126 1/2 936 $247,500 $264 2/12/18 1211 2/2 1470 $412,000 $280 1/23/18 The Park Shelton boasts legendary design and modern 621 1/1.5 910 $245,000 $269 1/8/18 amenities, combining posh with urban chic while offer- 822 3/2 1729 $450,000 $260 11/30/17 ing the convenience of many on-site amenities such as shops, restaurants, coffee shops, and a Q-Line station. 221 1/1.5 786 $220,000 $280 9/19/17 810 2/2 1470 $355,000 $241 8/25/17

Averages: 965 $269,200 $295

Address Developer 3670 Woodward Avenue RAM

Total Units Average HOA Fees 36 $389-$642/Month

Launch Year Sold Out 2006 2013

Last Six Months Price/SF $330 (2 units)

Ellington Condominiums The Ellington offers unprecedented loft-style luxury. Located Desirability Index : 49% adjacent to the Detroit Medical Center and Wayne State Uni- versity, The Ellington also is less than half a mile from De- troit's Central Business District, which includes Comerica Most Recent Closed Sales Park, Ford Field and General Motors and Compuware corpo- Unit Type SF Closing Price $/SF Closed rations. World-class dining and entertainment are also near- by. 502 1/1.5 1147 $350,000 $305 6/22/18 503 1/1.5 862 $312,000 $362 6/21/18 407 2/2 1331 $410,000 $308 10/3/17 212 2/2 1180 $375,000 $318 6/30/17 204 2/2 1226 $363,700 $297 6/23/17 308 1/1.5 967 $319,000 $330 5/31/17 409 2/2 1150 $335,000 $291 7/6/16 Averages: 1123 $352,100 $316

Address Developer E. Palmer Street George John

Total Units Average HOA Fees 60 $155-$195/Month

Launch Year Sold Out 2006 2017

Last Six Months Price/SF $178 (4 units)

Art Center Town & Carriage Homes North This development is located on the East side of Midtown in Desirability Index : 31% the Art Center residential district. These townhomes are of recent construction with the last phase having just been completed. Most Recent Closed Sales Unit Type SF Closing Price $/SF Closed

267 4/4 2223 $389,900 $175 6/17/18 274 1/1 1132 $179,000 $158 6/8/18 265 4/4 2223 $382,900 $172 3/2/18 292 3/2.5 1500 $310,000 $207 1/5/18 275 3/3 1458 $330,000 $226 12/1/17 271 3/3 1458 $334,900 $230 8/2/17 286 1/1 1128 $180,000 $160 7/24/17 273 3/3 1458 $339,900 $233 6/30/17 290 1/1 1128 $159,500 $141 3/3/17 281 1/1 1128 $122,600 $109 10/10/16

Averages: 1484 $272,900 $181

Address Developer 5766 Trumbull Street John Biggar & Chadd Fox Total Units Average HOA Fees 35 $190-$220/Month

Launch Year Sold Out 2004 2008

Last Six Months Price/SF $280 (4 units)

Research Lofts Research Lofts offers modern styled units in a nationally Desirability Index : 36% listed historic industrial style building. Includes: dramatic open spaces, high ceilings, volumes of natural daylight, exposed brick, martini glass style columns, exposed wood Most Recent Closed Sales beams and timbers, all provided in the historical charmed Unit Type SF Closing Price $/SF Closed setting of Old Detroit. Near some of Detroit’s finest neighborhoods: Wayne State University, Midtown, Woodbridge 208 2/1 896 $267,000 $298 6/21/18 Historic District, & New Center. 215 3/2 1729 $442,500 $256 6/12/18 110 1/1 780 $245,000 $314 5/30/18 207 2/1 1032 $290,000 $281 5/17/18 204 1/1 1083 $245,000 $226 7/26/16 102 2/1.5 947 $242,000 $256 5/27/16 Averages: 1078 $288,600 $272

Address Developer 66 Winder Street Crosswinds Communities

Total Units Average HOA Fees 62 $285-$410/Month

Launch Year Sold Out 2006 2012

Last Six Months Price/SF $352 (4 units)

Garden Lofts Very popular Garden Lofts in Brush Park with view of Desirability Index : 53% Comerica Park. Perfect location near Downtown, Midtown, Wayne State and the DMC. Open, airy and bright third floor unit with wood floors, stainless steel appliances and own Most Recent Closed Sales washer/dryer. Building has workout room and outdoor Unit Type SF Closing Price $/SF Closed common space with great view of ballpark. Secure indoor parking. Rent includes heat and water, so tenant pays only 456 1/1 830 $286,500 $345 5/31/18 electricity. 322 1/1 770 $294,000 $382 5/4/18 452 1/1 864 $293,000 $339 2/2/18 451 2/2 1138 $395,000 $347 1/9/18 442 2/2 1333 $437,150 $328 8/24/17 327 1/1 1017 $310,000 $305 7/18/17 444 2/2 1138 $385,000 $338 7/12/17 Unk 1/1 949 $299,000 $315 6/9/17 443 1/1 819 $268,000 $327 5/1/17 215 1/1 848 $249,000 $294 1/12/17

Averages: 971 $321,700 $332

Address Developer ** Winder Street Crosswind ***** John R Avenue ** Adelaide Street Average HOA Fees **** Woodward Avenue $204-$314/Month

Total Units Sold Out 550 2008

Launch Year Last Six Months Price/SF 2006 $207 (1 unit)

Woodward Place at Brush Park This townhome development has seen a great renewal of Desirability Index : 34% interest from buyers. First with the announcement of the Q- Line that passes and stops right by, and more recently with the Little Caesar Arena across the street. Most Recent Closed Sales Closed This project is now in one of the most coveted locations in Unit Type SF Closing Price $/SF town and the appeal of its large floorplans, secured parking Date and nice landscape is making this a favorite for many sports 41 WI 2/3 2294 $475,000 $207 5/18/18 enthusiasts. 2541 JR 3/1.5 1456 $375,000 $258 11/20/17 82 AD 3/1.5 1468 $350,000 $238 10/13/17 98 AD 2/1.5 1468 $320,000 $218 8/7/17 2660 WO 3/2 1456 $375,000 $258 7/28/17 2555 JR 3/1.5 1468 $349,900 $238 7/18/17 2440 WO 3/1.5 1468 $365,000 $249 5/26/17 29 WI 2/2.5 2288 $485,000 $212 3/9/17 127 WI 3/2 1468 $342,000 $233 1/19/17 2666 WO 3/2 1470 $335,000 $228 12/13/16

Averages: 1630 $377,200 $234

Address Developer 78 Watson & George John 112Watson Total Units Average HOA Fees 21 $220-$336/Month

Launch Year Sold Out 2003 2018

Last Six Months Price/SF $273 (2 units)

Carola Condominiums The Carola building was originally constructed as an Desirability Index : 33% extended stay hotel. The seven-story building was abandoned for many years when the development team purchased the building and began the reconfiguration to Most Recent Closed Sales luxury condominiums. With three units per floor, and each Unit Type SF Closing Price $/SF Closed having a balcony, the raw concrete and exposed clay tile ceiling spaces are quite dramatic. Unk 1/1 990 $270,000 $273 4/13/18 The building offers a unique parking solution with a row of 22 1/1 900 $205,000 $228 5/31/17 garages in the back of the property. 27 1/1 900 $245,000 $272 10/7/16 26 1/1.5 917 $280,000 $305 7/6/16 9 1/1 1135 $280,280 $247 5/1/16 10 1/1 1240 $287,700 $232 4/7/16 1 2/1 1611 $300,000 $186 2/15/16 Averages: 1099 $267,000 $249

Address Developer 2003 Brooklyn Marl Wilcox & Christopher Hajek Total Units Average HOA Fees 38 $250-$300/Month

Launch Year Sold Out 2006 2014

Last Six Months Price/SF No Recent Sales

Grinnell Place Lofts The Grinnell Place Lofts project redeveloped the former Desirability Index : 45% Grinnell Brothers Piano Factory building into 38 for- sale condominium units. All units have a balcony and Most Recent Closed Sales the 4th floor lofts all have access to a rooftop terrace with prime view of the Downtown skyline. Unit Type SF Closing Price $/SF Closed

Parking is located in a first floor garage. 211 2/1.5 1135 $375,000 $330 10/10/17 Grinnell Place Lofts holds the record of the highest 402 2/1.5 1036 $499,000 $482 10/2/17 price/sf outside of the Central Business District thanks 307 2/2 1345 $448,000 $333 8/18/17 to its high quality of construction/renovation and fin- 414 2/2.5 1572 $700,000 $445 8/15/17 ishes, and its location ideally placed between trendy 205 1/1 808 $315,000 $390 6/29/17 Corktown and Downtown. 311 2/2 1122 $385,000 $343 6/16/17 Unk 2/2 1290 $531,313 $412 11/23/16 Averages: 1187 $464,800 $391

Address Developer 3434 Russell Street Robert Heide

Total Units Average HOA Fees 34 $88-$364/Month

Launch Year Sold Out 2014 2016

Last Six Months Price/SF $244 (1 units)

FD Lofts The FD (Fire Department) Lofts are located in a 1917 DFD Desirability Index : 20% maintenance center that was converted into residential use in 2006. The transformation of this brick and concrete building architecture resulted in exceptional lofts with mezzanine Most Recent Closed Sales bedrooms, 18-foot ceilings, large warehouse-style windows, Unit Type SF Closing Price $/SF Closed and a private courtyard that leads to the gated covered parking and storage for residents. 304 1/1 1000 $243,500 $244 3/6/18 Eastern market is one of the favorite destinations of De- 107 2/2 1780 $435,000 $244 6/29/17 troiters and all of Southeast Michigan on weekends and es- Unk 1/2 1200 $305,000 $254 3/22/17 pecially on flower day in May. 406 1/2 1450 $325,000 $224 3/6/17 208 1/1 916 $255,000 $278 1/26/17 Averages: 1269 $312,700 $249

Address Developer 1395 Antietam Avenue Joel Landy

Total Units Average HOA Fees 32 $180-$375/Month

Launched Year Sold Out 2004 N/A

Last Six Months Price/SF $226 (2 units)

Leland Lofts Leland Lofts is an historic school building converted into Desirability Index : 32% condominiums located in the desirable Lafayette Park. This landmark building has its place on the National Register of Historic Buildings, and offers 32 lofts, which maintain the Most Recent Closed Sales elegant architecture of this period building, yet benefit from Unit Type SF Closing Price $/SF Closed modern fixtures and fittings. Leland Lofts’ condominiums are available as one or two bedroom units over large open floor 38 1/1 1350 $270,200 $200 5/3/18 plans, featuring over-sized windows, custom kitchens and bathrooms, oak hardwood flooring, 12-14 foot ceilings and 49 1/1 1067 $275,000 $258 3/29/18 exposed duct work. Leland Lofts has a great communal roof- 37 1/1.5 1580 $335,000 $212 8/11/17 top deck and a fitness center whilst it is only a short walk to 41 1/2 1180 $275,000 $233 3/10/17 cultural venues, restaurants and shopping at Eastern Market, 45 1/1 1150 $261,000 $277 9/26/16 Riverwalk and downtown Detroit. Lafayette Park has an 35 2/1 1315 $277,000 $211 4/29/16 abundance of beautiful green spaces, with many within walk- ing distance of Leland Lofts, offering residents the city as Averages: 1274 $282,200 $265 their garden.

Address Developer W. Bethune (B) & Charter Oak Homes W. Pallister (P) Total Units Average HOA Fees 102 $200-$235/Month

Launched Year Sold Out 2002 2006

Last Six Months Price/SF $197 (3 units)

Lofts at New Center This development is a series of 102 townhomes Locat- Desirability Index : 29% ed on the West side of Woodward Avenue, North of Grand Boulevard. The units are 3-story units on Wood- Most Recent Closed Sales ward avenue and 2-story units on Bethune, Pallister and Delaware Streets. Unit Type SF Closing Price $/SF Closed

They offer high ceilings and modern layouts & materi- 84 B 2/1.5 1280 $250,000 $195 6/21/18 als in an open and lofty architecture. 60 B 2/1.5 1254 $242,500 $193 6/13/18 18 P 2/1.5 1254 $252,000 $201 4/6/18 74 B 2/1.5 1280 $240,000 $188 10/24/17 68 B 2/1.5 1254 $225,000 $179 10/18/17 76 B 3/1.5 1254 $263,000 $210 10/10/17 13 P 2/1.5 1254 $194,500 $155 8/18/17 18 B 2/1.5 1250 $225,000 $180 8/11/17

Averages: 1260 $236,500 $188

Address Developer 120 Seward Farbman Group

Total Units Average HOA Fees 50 $219-$325/Month

Launch Year Sold Out 2000 2005

Last Six Months Price/SF $171 (3 units)

Gramont Manor Condominium This building is one of the hidden treasures of New Center. Desirability Index : 27% Built in 1920 by famed architect Albert Kahn, it was converted into condominiums in 2000. Most Recent Closed Sales The building features a beautiful mosaic floor in the lobby and classical columns with molding. Unit Type SF Closing Price $/SF Closed

Unk 2/1 800 $141,000 $176 4/25/18 108 1/1 540 $95,000 $176 4/25/18 305 1/1 540 $85,000 $157 2/7/18 307 2/1 800 $90,000 $113 11/2/17 101 2/1 790 $91,500 $116 6/26/17 402 1/1 800 $85,000 $106 4/6/17 304 1/1 750 $82,500 $110 3/28/17 408 1/1 700 $90,000 $129 3/27/17 209 2/1 750 $82,000 $109 3/8/17 306 2/1 740 $77,000 $104 10/7/16

Averages: 721 $91,900 $130

Address Developer 200 River Place Farbman

Total Units Average HOA Fees 48 $298-$880/Month

Launch Year Sold Out 2002 2006

Last Six Months Price/SF No Recent Sales

200 River Place Lofts Designed by noted architect Albert Kahn in the late Desirability Index : 33% 1800s, 200 River Place Lofts is part of a complex of buildings originally developed for the Parke Davis Most Recent Closed Sales pharmaceutical company. With its historical features, riverfront location, vicinity Unit Type SF Closing Price $/SF Closed to restaurants and cultural attractions, and strong 8 2/2.5 2961 $680,000 $230 12/8/17 sense of community among residents, 200 River Place 46 1/1.5 1451 $430,000 $296 9/11/17 Lofts provides a true urban luxury loft living experi- 11 2/1.5 1397 $399,500 $286 7/21/17 ence. 26 2/2 1555 $400,000 $257 7/20/17 29 2/2.5 2244 $500,000 $223 4/25/17 12 2/2 2070 $533,000 $257 3/9/17 37 2/1.5 1390 $312,714 $225 12/30/16 13 2/2.5 2245 $480,000 $214 8/31/16 21 1/1.5 1392 $345,000 $248 5/18/16 50 2/2 2110 $515,000 $244 4/11/16

Averages: 1882 $460,000 $248

Condo Market Report Downtown Detroit - June 2018 DEVELOP WITH CONFIDENCE

Address Developer 3320 Spinnaker Lane SMU LLC

Total Units Average HOA Fees 90 $625/Month

Launch Year Sold Out 2005 2008

Last Six Months Price/SF $162 (6 units)

Harbortown | Spinnaker Tower This building is located in a gated & secured development Desirability Index : 27% that offers resort-like amenities to its residents. It includes 3 multi-family buildings and a number of townhomes. The complex has a direct private access to the Detroit Riverfront Most Recent Closed Sales walk and its own marina. Unit Type SF Closing Price $/SF Closed With 19 stories, the Spinnaker Tower is the tallest of these buildings. Located on the West side of the complex it offers 5B 1/1 740 $110,000 149 6/25/18 the best views of downtown and the river. 2C 2/2 1090 $154,500 $142 5/31/18 6D 2/2 1090 $180,000 $165 5/14/18 15D 2/2 1090 $210,000 $193 4/30/18 15C 1/1.5 1090 $169,900 $156 4/13/18 18A 2/2 1090 $180,000 $165 3/20/18 15E 1/1 740 $91,500 $124 11/30/17 5D 2/2 1090 $195,500 $179 8/3/17 7F 2/2 1090 $190,000 $174 6/28/17 7A 2/2 1090 $189,900 $174 5/5/17

Averages: 1020 $167,100 $162

Condo Market Report Downtown Detroit - June 2018 DEVELOP WITH CONFIDENCE

Address Developer 6533 E. Jefferson Avenue Slavik Murray Investment Company Total Units Average HOA Fees 178 $445/Month

Launch Year Sold Out 2004 2010

Last Six Months Price/SF $211 (8 units)

Lofts at Rivertown Originally a warehouse & manufacturing plant for Frederik Desirability Index : 27% Stearns & Company, a leading pharmaceutical manufacturer in 19th century this structure was first built in 1899 with the addition in 1912. This gated community has a fitness room, Most Recent Closed Sales outdoor pool & hot tub, 24/7 security and access control. Closed Unit Type SF Closing Price $/SF The building is located only 2 miles from downtown and just Date across the street from the Belle Isle State Park. 427 1/2 1158 $292,000 $252 6/22/18 Units are true lofts showing off various design and construc- 214 1/1 900 $175,000 $194 6/22/18 tion materials: old timber beams, martini columns, exposed 603 1/1 1095 $239,650 $219 6/15/18 concrete ceilings. Some 4th floor units feature a rooftop ter- 130 1/2 939 $180,000 $192 5/31/18 race on a 2nd level, while a very few penthouse units include 417 1/2 1072 $237,000 $221 5/30/18 a rooftop deck. 317 1/1 1019 $200,000 $196 5/22/18 224 1/1 950 $165,000 $174 4/27/18 Unk 1/2 1100 $248,350 $226 12/8/17 433E 2/2 1300 $280,000 $215 11/30/17 205J 2/2 1147 $249,000 $217 11/29/17

Averages: 1068 $226,600 $211

Condo Market Report Downtown Detroit - June 2018 DEVELOP WITH CONFIDENCE

Address Developer Campau Farms Circle & Charter Oak Homes Prince Hall Drive (P) Total Units Average HOA Fees 172 $190-$320/Month

Launch Year Sold Out 1997 2000

Last Six Months Price/SF $89 (1 unit)

Campau Farms at Elmwood Park Campau Farms is a gated community of townhomes orga- Desirability Index : 18% nized around a central swimming pool and club house and located in a nicely landscaped park. Most Recent Closed Sales Townhomes are 3-story modern construction and most have been remodeled by their current owners to upgrade finishes Unit Type SF Closing Price $/SF Closed to new materials and appliances. 2910 P 2/1.5 1830 $162,000 $89 1/26/18 1718 C 2/2 2840 $125,000 $44 12/21/17 1830 C 2/1.5 1830 $137,000 $75 8/9/17 1934 C 2/1.5 1400 $150,000 $107 7/31/17 1924 C 2/1.5 1830 $150,000 $82 7/25/17 1762 C 2/2 1700 $155,000 $91 6/19/17 1671 C 2/2 2840 $120,000 $42 5/8/17 1818 C 2/2 1830 $165,000 $90 4/29/17 1905 C 2/2 1840 $135,000 $73 3/24/17 1759 C 2/2 1530 $127,000 $83 3/13/17

Averages: 1947 $143,000 $78

Address Developer 8120 E. Jefferson Avenue Indian Village Manor Associates Total Units Average HOA Fees 87 $503-$1100/Month

Launch Year Sold Out 2000 2004 (est.)

Last Six Months Price/SF $94 (3 units)

Indian Village Manor Indian Village Manor is a hidden gem in the Gold Coast Desirability Index : 20% along East Jefferson. The building is divided into large condos that don’t share walls with neighboring condos. Most Recent Closed Sales Units offer hardwood floors, fireplace, built-ins, and crown molding. Unit Type SF Closing Price $/SF Closed

Building feature a gated parking lot, security, a fitness 3G 3/3 2280 $236,500 $104 4/30/18 center and a small park for residents along the river- 5H 2/3 2400 $197,000 $82 3/30/18 front. 4G 3/3 2280 $225,000 $99 2/14/18 Unk 1/1 1180 $163,5000 $139 12/26/17 5K 3/3 2400 $290,000 $121 12/22/17 3C 3/3 2380 $235,000 $99 12/8/17 7E 2/2.5 2400 $299,000 $125 7/17/17 5B 3/3 2410 $280,000 $116 4/10/17 6E 2/2 2280 $265,000 $116 2/27/17 3F 4/3 2380 $175,000 $74 12/19/16

Averages: 2229 $236,600 $108

Address Developer 8162 E. Jefferson Avenue Detroit Towers Associates

Total Units Average HOA Fees 36 $2162-$2618/Month

Launch Year Sold Out 1974 1976 (est.)

Last Six Months Price/SF $114 (2 units)

Detroit Towers Condominiums Built for Detroit’s wealthy in 1925, Detroit Towers sits back Desirability Index : 22% on Jefferson near the Detroit River. The building, designed by Walter W. Ahlschlager, is its own historic district and is listed on the National Register of Historic Places. Each floor Most Recent Closed Sales has two units with views of Belle Isle, Canada and down- Unit Type SF Closing Price $/SF Closed town.

17A 3/3 2810 $377,500 $134 5/21/18 12B 2/2 2400 $217,500 $91 3/6/18 4B 3/2.5 2500 $190,000 $76 11/21/17 7A 3/2.5 2500 $235,000 $94 12/5/16 1B 2/2 2500 $30,000 $12 5/9/16 Averages: 2542 $210,000 $81

Address Developer 8200 E. Jefferson Avenue N/A

Total Units Average HOA Fees 209 $300-$1098/Month

Launch Year Sold Out 1980 N/A

Last Six Months Price/SF $151 (4 units)

Shoreline East Condominiums Shoreline East Condominiums features soaring riverfront and Desirability Index : 11% city views from a 20-story gated high-rise building on the Detroit River. The mid-century modern architecture offers spacious studio units as well as one, two and three bedroom Most Recent Closed Sales residences. Shoreline East Condominium offer a diverse pro- Unit Type SF Closing Price $/SF Closed fessional community, exceptional service levels and a great waterfront location. 203 2/2 1142 $99,900 $86 6/19/18 1604 2/2 1100 $120,000 $109 4/23/18 1107 1/1 650 $60,000 $92 3/1/18 1010 2/2 1250 $173,000 $138 2/22/18 808 1/1 775 $73,000 $94 11/28/17 1409 2/2 1142 $150,000 $131 9/5/17 Unk 2/2 1200 $100,000 $83 8/11/17 208 1/1 816 $70,000 $86 8/11/17 1501 1/1 750 $54,000 $72 7/31/17 104 1/1 816 $55,000 $67 5/22/17

Averages: 964 $95,500 $96

Berksh ire Hathaway HomeServices The Loft Warehouse

313.658.6400 www.theloftwarehouse.com 3434 Russell St. Ste 101 | Detroit, MI 48207

prepared by Jerome Huez | [email protected]

DEVELOP WITH CONFIDENCE