Bailey Schmidt Inc., a Birmingham-based, full-service real estate company, is seeking a buyer for a new, $3.5 million, two-story penthouse in the city’s downtown area.
The penthouse is located on the fourth and fifth floors of the Balmoral Office Building, a class-A, mixed-use development that recently opened at 39401 Woodward Ave (just south of the former Peabody’s Restaurant).
The residence features a completely customizable 5,175 square feet of living space, a 1,450-square-foot private terrace on its top level, deeded parking and private garage access, and a panoramic view of downtown Birmingham and the downtown Detroit skyline.
Possible build outs of the interior of the penthouse, which is within walking distance of Kroger, The Stand Gastro Bistro, Café Via, and Salon Legato Birmingham, include the construction of a living room area, kitchen, a fourth-floor master bedroom, a home theater, and more.
“It’s truly a one of a kind, luxury condominium,” says Drew Schmidt, president at Bailey Schmidt. “We buyers characterize (the Balmoral Penthouse) as one of the high-end properties you see in New York, Chicago, Los Angeles, Miami.”
He says the typical buyer for the penthouse, which went on the market in mid-August and is large enough for a complete in-town residence or a private corporate retreat, is somebody who owns residential properties in other parts of the world and is looking to purchase a main Michigan residence.
The construction of the Balmoral Office Building was completed last fall. Morgan Stanley, PNC Bank, and Private Bank occupy space within the building, which currently has 10,000 square feet of office and retail space available.
For more information, visit baileyschmidt.com.