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Westin Book Cadillac Penthouse Condo Sets a New Record for Detroit
/in Detroit /by Tracy WillisA Westin Book Cadillac penthouse sold for $3.537 million. The penthouse sits atop the 31-story high-rise hotel in downtown Detroit. The deed was recorded in Wayne County in December. The sale came at a time when the downtown Detroit condo market was oversaturated. Previously, the most expensive Detroit condo sale was recorded at about $1.8 million in 2017. Incidentally, that condo is also in the Westin Book Cadillac.
Midtown Development’s Tax Credits Expire
/in Detroit /by Tracy WillisThe Mid development in Midtown is headed toward a financial loss. The developer is still trying to get the project off the ground. Almost $9 million in Michigan Business Tax brownfield tax credits expired on Thursday, June 10, 2021. The 10-year expiration looms because the development team has not built the promised seven stories of one of its proposed buildings by June 10, 2021. The Michigan Business Tax statute requires projects to be completed within 10 years of the pre-approval letter.
Former Site of Detroit Country Day School Purchased
/in SE Michigan /by Tracy WillisThe historic former Detroit Country Day School building has sold. The 38,500-square-foot building has sold to JCJ Development LLC which is registered to Jordan Jonna. JCJ Development will convert the original school building into a residence. In 2017, Detroit Country Day announced a $30 million campus expansion and vacated the building. The building received a $2.9 million purchase offer from the Troy-based Kensington Church in 2019. The church withdrew its offer after community protest.