The Eleven condominium tower in downtown Minneapolis has sold more than half its 118 residences barely four months since construction began.
Upscale condo tower has yet to rise in Minneapolis, but more than half of its units have sold
Four months into construction, more than half of the 118 residences have been sold.
February 13, 2020 at 3:03AM
The 41-story tower, which is being built in the Mill District off W. River Parkway close to Gold Medal Park, will be the tallest residential building in the city upon its expected completion in late 2021.
"We knew there was a severe lack of inventory in the luxury condo market in the Twin Cities area and the pace at which these homes have sold bears that out," said John Wanninger of WMG Partners at Lakes Sotheby's International Realty, which is selling the Eleven condos, in a statement. "What has been extremely gratifying is that this project defies the norms of a typical winter project. December and January felt like a spring market, and we are very happy with our sales for the project overall."
The condo project is being developed by Ryan Cos. and Luigi Bernardi of Arcadia LLC. The nearly $190 million project was designed by New York-based Robert A.M. Stern Architects. The project broke ground in early October.
A handful of units start at $900,000, but many surpass the previous record of $7 million for a Minneapolis condo. The Eleven is planned to have 17 penthouse units that will be more than triple the size of the average home in the Twin Cities.
The developers announced Tuesday that Chicago-based Sudler Property Management has been selected to offer condo owners a "new-to-market level of customized services and amenities."
"Our Sudler team will provide the residents of Eleven with calm, attentive expertise, from the 24/7 greeting as they arrive in the building's motor court, to concierge-level support for parcel and grocery delivery, to floral arrangements effortlessly refreshed daily and much more," said Steven Levy, president of Sudler, in a statement.
Sudler provides concierge support at prominent residential properties in Chicago including No. 9 West Walton and the Palmolive Building.
Nicole Norfleet • 612-673-4495 Twitter: @nicolenorfleet
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