The year 2025 was filled with highlights, but none topped the sale of a custom loft at The Whitney Landmark Residences in the historic Mill District. I represented both seller and buyer for a $4,500,000 closing that was the most expensive residential real estate transaction of the year, the highest price ever at the grand old building, and the fourth-highest condo sale in Minneapolis history. Finding a buyer for a unique property at a record-setting price wasn’t easy, but I had great partners and a multifaceted strategy.
Rising from a Historic Mill and former Hotel to the Stars
The Whitney Landmark Residences was originally the Standard Mill, built in 1879 for businessman Dorilus Morrison and designed by William Dixon Gray. The brick-and-timber structure, with its Mayan Revival flair, became a mainstay of the riverfront flour industry. In 1987 it was transformed into the posh Whitney Hotel, a favorite haunt for the likes of Mick Jagger and Elton John. The building was further reimagined in 2007 with 97 hotel rooms converted into just 27 upscale condos. Unit #701 is a rare custom penthouse resulting from two residences being merged into one. The two-level residence with 5,776 square feet of sublime living space is the largest in the building.
The Planning and Construction for an Urban Dream Home
Seven-figure condos aren’t the bread and butter of the Minneapolis real estate market. Once you head deeper into multimillion-dollar territory, that pool of buyers becomes increasingly difficult to identify. On the other hand, the seventh-floor property at the Whitney offered enormous appeal. It all began when a couple purchased two raw and unfinished units in 2019 for a combined total of $2.75 million. Next came approximately three years of designing and executing the project with architect PKA, builder Streeter Homes, and interior designer Martin Patrick 3. There was an abundance of space to work with and a long road ahead in order to realize the new owners’ lofty vision.
The planning and construction of a four-bedroom, five-bath custom loft was careful and exacting. The owners desired a unique living experience blending historic elegance with modern luxury. Soaring wood-beamed ceilings and exposed brick walls would pair beautifully with a top-of-the-line chef’s kitchen. A centerpiece glass solarium was inspired by London’s Crystal Palace. Floating iron stairs led up to the steel mezzanine with lounging and gallery areas. Handcrafted industrial textures were complemented by sleek designer finishes. Each bedroom would be ensuite with bathrooms worthy of architectural magazines. A large outdoor deck, magnificent river views, a fitness room, a home office, four heated and secure parking spaces and two storage rooms added further appeal.
An Unexpected Turn of Events
But after three years spent creating an urban dream home plus $3.5 million in additional costs, the owners had yet to move in. Instead, they planted roots in a different state. So began a new challenge—selling an unparalleled property in the Mill District. Once known as the “Flour Milling Capital of the World,” the former industrial neighborhood experienced a lengthy decline before rebounding as one of the region’s most celebrated places to live. The building itself is listed in the National Register of Historic Places. And while the local luxury market has been on the rise in recent years, there were literally no other comparable condo sales to help establish the price of the unique Whitney unit.
Finding a Needle in the Haystack of Luxury Buyers
Marketing to a limited number of elite-level buyers requires strategic thinking. But that rare bird status was also a calling card with nothing else available at this size and scope. It’s a two-level condo the size of a house, with a build quality that’s off the charts. I found ways to spread the word to an elusive audience, such as hosting an Aquatennial viewing party serving wine and hors d’oeuvres to past clients and prospective buyers. It was fun and it drove a lot of traffic. I posted video tours on social media, including TikTok and Instagram. One of those posts led to a needle-in-a-haystack moment and the eventual buyer of a showcase jewel.
Reflecting on the Process and the Journey
At the end of the day, the $4,500,000 sale took more than a year to realize. It offers a glimpse behind the curtains at the complicated landscape for multimillion-dollar properties in the Twin Cities. The luxury market may be holding its own but finding buyers for the most expensive condos in the region can feel like unchartered territory. But it all came together in the end and it’s a journey I’ll always cherish. I’m grateful to my clients, the design and build team, and all the professionals that I work with on a day-in, day-out basis. I’m also thankful for the community at large in Minneapolis, the place I’ve always called home.
