Good Luck Finding a Comp (“Comparable Sold Property”)

Full disclosure: I haven’t shown the unit, have no firsthand knowledge of its features, and don’t know the Seller or their listing agent or broker.

But, based solely on MLS photos and stats, I’m hard-pressed to think of another condo in Minneapolis — or anywhere in Minnesota — as unique as #701 at 601 Marquette Avenue in Downtown Minneapolis.

Equal parts Manhattan penthouse and James Bond (“Fast & Furious?”) villain lair, the unit sits atop a downtown building, with the rooftop doubling as its own private balcony.

The listing agent extolls:

“You will own the top 3 floors of the entire building with sweeping downtown views, and your own private entrance all while being connected to the skyway! 3 fireplaces, a chef’s gas range, 2 washers/dryers, 2 dishwashers, 3 ovens and Italian marble throughout!┬áThere is a private elevator that opens directly into the condo and then there is also an elevator within the condo to get from level to level.”

No doubt due to those unique features — plus the unit’s size (3,781 square feet), asking price ($1.99 million), and $2,500 monthly(!) association fee — the property has been a hard sell: it’s been on the market intermittently since 2013, starting at $3.895 million.

OK, I’ll bite — any financially-qualified takers out there?

I’d love to show it to you . . . and see it for myself (especially those roof-top views!).

P.S. Hmmm — I wonder if it can it be rented for parties?

At the very least, it would make for a very memorable Broker Tour open (house).

See also, “The Twin Cities’ Most Expensive “For Sale” Condos.”

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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