  Mikie Member Username: Mikie Post Number: 104 Registered: 06-2006 |
I finally made the decision to move back to the city and I looking for some advice from the people who know Detroit the best. I’m looking for a loft in the CBD or midtown. I’ve already walked through a few and I’m going to view some this Saturday. Here’s a list of the properties I’m currently looking at. The Research Lofts Mid-Med Lofts Grinnell Place Willy’s Overland Lofts 55 West Garden Lofts at Wood ward Place Does anyone have any suggestions on additional properties I should look at before making a final decision, (I’m looking in the $250,000 price range)? Currently my favorite is the Research Lofts on Trumbull. I really like the floor plan and the unit I’m considering has a large deck that over looks downtown, however I would like to be a little closer to Woodward or the CBD so I would have the option to walk to a restaurant or lounge. Most of the places that I’ve looked at are about 1,000 to 1,200 sq ft and the only priority I have is that the loft has a deck or balcony, but I can reconsider this if the property has something to offer that would trump having a deck, other then that all options are open. Any advice (especially from the people who live downtown) is appreciated. Thanks in advance for the help! | ||
Wordonthestreet Member Username: Wordonthestreet Post Number: 153 Registered: 11-2003 |
Check out www.citylivingdetroit.com, most of the developments in Midtown/Downtown/Corktown are listed on the site. Good luck on your search. | ||
Kid_dynamite Member Username: Kid_dynamite Post Number: 349 Registered: 06-2007 |
The Carlton. The Park Shelton. Welcome back, Mikie. | ||
Sharmaal Member Username: Sharmaal Post Number: 1234 Registered: 09-2004 |
Willy's has an open house tomorrow night called Illuminate. Might be a good time to check it out. I believe some units have balconies. | ||
Goose Member Username: Goose Post Number: 49 Registered: 02-2005 |
i just did an appraisal for a unit at "lofts at rivertown", and in my research i was amazed/confounded/dumbfounded at the number of bank owned lofts, many of which are not on the market yet but still "in process"...... | ||
Lefty2 Member Username: Lefty2 Post Number: 517 Registered: 07-2007 |
i would follow the goose advice and wait and see. The key to making money on real estate is either buying cheap or at the bottom of an up cycle. you choose. | ||
Gsgeorge Member Username: Gsgeorge Post Number: 287 Registered: 08-2006 |
The Garfield and New Amsterdam Lofts. http://www.jonna-detroitlofts. com/ | ||
Iaintgotnostyle Member Username: Iaintgotnostyle Post Number: 73 Registered: 10-2007 |
A clue should be that many are bank owned, which means probably foreclosure or most likel;y unable to sell which means it aint a wise investment. Dont lose your money | ||
Brian_fitzcarraldo Member Username: Brian_fitzcarraldo Post Number: 6 Registered: 10-2007 |
Those all seem like pretty cool buildings. I'm convinced that almost any real loft -- as opposed to these newly built fake lofts, or flofts -- in a reasonably good location in the city will be a good investment. | ||
Detroitbill Member Username: Detroitbill Post Number: 361 Registered: 09-2006 |
You should check out 1300 Lafayette East. Great co-op with very large living areas, awesome city and river views, no balconies but you can walk to most things Downtown in a few minutes. Great neighbors who really care about Detroit also. Also, very reasonable. http://vasileffrealtydetroit.com/ (Message edited by Detroitbill on October 26, 2007) | ||
Lo_to_d Member Username: Lo_to_d Post Number: 17 Registered: 07-2007 |
Listen to lefty and wait and see... and our city will remain in stagnation. Maybe by the time your 90 we'll make some real progress. Whatever! Check out the ellington. Definitely a floft, but it has done the most for urbanism in Detroit of any project. The mixed-use retail and location make it worth checking out. | ||
Charlottepaul Member Username: Charlottepaul Post Number: 1863 Registered: 10-2006 |
"which means it aint a wise investment." Not every place where someone chooses to live is an investment. In fact financial advisors have been suggesting for years that it is a bad idea to have your home as a primary investment. Some people just straight up need a place to live, or some may choose to live wherever for convenience, location, or they like the atmosphere of their residence. | ||
Lo_to_d Member Username: Lo_to_d Post Number: 18 Registered: 07-2007 |
Mikie... definitely contact a Detroit real estate agent to represent you. They can help you leverage any offer or negotiation, and it cost you nothing. Plus they can tell you the average selling price for comps. I wish I would have used one when I bought my loft. It's always better to have a third party when your dealing with a developer. | ||
Rsa Member Username: Rsa Post Number: 1302 Registered: 10-2003 |
mikie; check out the brush park area, there's some cool buildings there within great proximity of downtown. http://www.crystallofts.com/cr ystal-lofts.htm (on woodward) the carlton lofts (can't find the website). these are neat because a lot of them are whitebox and you can finish them out to your specifications. http://www.edmundplace.com/ (not really lofts, but 4 condos built out of a brush park victorian) http://www.gardenloftsatbrushp ark.com/ (new construction) there's also two being worked on in the CBD on woodward: http://www.twelve-25.com/ http://www.theelliottbuilding. com/ [not sure when you have to move by.] i'd recommend bringing on a realtor. they really know what's out there and can schedule walk-thru's whenever you want. two that i know that really know the city very well are austin black with max broock and liz tintinalli (not sure which realty she's with). also scope out o'connor realty http://www.oconnordetroit.com/ default.htm and support a city business. | ||
Spitty Member Username: Spitty Post Number: 629 Registered: 07-2004 |
Check out Leland Lofts. On the edge of Lafayette Park it's in the perfect location. Within ten minutes, you can walk to Rivard Plaza, Ford Field, Comerica Park, Harmonie Park, Greektown and Eastern Market ...maybe even Campus Martius if you're a speed walker. I know one of my neighbors is moving out (expecting another baby) so their unit is finished and ready to move in. Contact me at spitanski@hotmail.com and I'll put you in contact with the motivated seller. There are also a few unfinished units for sale which allow you choose your finishes - like faucets, sinks, tubs, lights, tile, flooring, paint, appliances, cabinets, and more. Oh and it's probably about as close as you can buy to the lounges you seek on Broadway and Monroe. www.lelandlofts.com | ||
Gianni Member Username: Gianni Post Number: 318 Registered: 05-2004 |
Check out the Mies Van der Rohe coops in Lafayette Park. I block from Greektown. Designed by one of the greatest architects of the 20th Century, and internationally famous. The Vasileff link above will get you to the agent who knows all about them. Many good deals right now and IMO better and cheaper than most of the loft deals. | ||
Sciencefair Member Username: Sciencefair Post Number: 8 Registered: 10-2007 |
Check out the Crystal Lofts on Woodward in Central Brush Park: http://www.crystallofts.com/ They offer a rooftop terrace and an upscale grocery store on the first floor. Within walking distance of CBD and Midtown. | ||
Virgochick Member Username: Virgochick Post Number: 2 Registered: 10-2006 |
I live at the Garden Lofts and you cannot beat the location. I can pretty much walk or ride my bike to most places I want to go downtown or midtown. We have gym and indoor parking, which are both nice. You can get a nice place with many upgrades for $250,000 as I think there were quite a few people who backed out. The one downside is the association fees are ridiculous (I pay around $425 per month!). Let me know if you want any more information on the place. | ||
Hybridy Member Username: Hybridy Post Number: 178 Registered: 08-2006 |
i've toured 55 west and willys overland lofts both are great 55 west most economical-but no southern exposure overland has great view of downtown but 270+ look at the original canfield lofts i believe there are a few units for sale very successful project | ||
Rfrankt Member Username: Rfrankt Post Number: 6 Registered: 03-2007 |
Check out Brush Park Village North at www.hipcityDETROIT.com You can get into a 1300 square foot Carriage Home for under $250,000. There is a deck option that will overlook the private community garden. | ||
Imperfectly Member Username: Imperfectly Post Number: 255 Registered: 06-2004 |
i second the leland lofts. i live there too ! good neighbors. great neighborhood. | ||
Sharmaal Member Username: Sharmaal Post Number: 1235 Registered: 09-2004 |
Mikie, what did you think? | ||
Dabirch Member Username: Dabirch Post Number: 2451 Registered: 06-2004 |
Mikie -- I know of a beautiful West Village 3 floor, 5 BR, 3.5 Bath, fully remodeled, big yard, brick paver patio, garage, 3500 SF house in your price range. | ||
Cjdb16 Member Username: Cjdb16 Post Number: 170 Registered: 11-2003 |
I know a great Woodbridge condo you would love. Big deck, 2 br, 2 br, 1,200 sq feet, close to everything. Check out www.oconnerdetrot.com for more information. | ||
Swingline Member Username: Swingline Post Number: 933 Registered: 11-2003 |
There's lots of good choices for lofts in Detroit at relatively affordable prices. Caught a segment of a show on FLN channel last night where a buyer was looking for a loft in downtown LA. It shed some perspective on the Detroit market. The buyer looked at the Biscuit Company warehouse which is being sold as hard space (open, no walls, completed kitchens) and which has some luxury amenities such as a small swimming pool and a proposed ground floor cafe. The neighborhood is still automobile oriented, thoroughly industrial but "developing" into an arts district. Santa Monica, it isn't. A 1400 sq. ft. unit with one bath was being offered for $725k. (Condo fee, $500/mo) | ||
Mikie Member Username: Mikie Post Number: 105 Registered: 06-2006 |
Thanks for all the responses from everyone, you gave me a lot of great ideas on properties to look at. I was able to walk through 4 lofts this past weekend and I also went back to the Research Lofts for another tour. Sharmaal, thanks for the heads up about the open house at Willy’s Overland Lofts. I had a great time and I even ran into a few friends. I really liked the model that they had finished and I was also able to tour the top floor lofts, I loved the view from the 5th floor terrace and the indoor parking! We didn’t get a chance to talk about the price and association fees, however they are going to contact me so we can sit down and hammer out some of the details. I still need to see the Leland and the Crystal Lofts. I’ve contacted the developers for more information and to see if I can arrange a time to view the property. Dabirch, thanks for the info on the WV house but I’m trying to stay away from an individual home, it’s one of the reasons that I what to sell my house so I can get away from the yard work and upkeep, however if the loft plan doesn’t work out I’ll be sure to contact you. I think I’m going to take everyone’s advice and contact a realtor in the near future so it will be easier to view some of the existing properties and not just the new developments. Thanks again for all the great ideas ! | ||
Brandon48202 Member Username: Brandon48202 Post Number: 194 Registered: 12-2004 |
Mikie, I'm sure you'll make the RIGHT decision- the Grinnell in Corktown! | ||
Lefty2 Member Username: Lefty2 Post Number: 549 Registered: 07-2007 |
Mikie, one last 2 cents worth, Buy if you know you will stay for awhile, you have to live somewhere. But, I would recommend renting one that you like for awhile, 6mos? and they you will have a more definitive no regrets idea on where you should buy. | ||
Limafin Member Username: Limafin Post Number: 10 Registered: 01-2007 |
I currently live in Millender and am interested in renting a loft style apartment. Should I assume that any owner of a loft/condo would be open to renting as well? Other than Craigslist, does anyone have any ideas how to go about finding loft/condos that are rented by owner? Thanks! |
