The real estate development firm Freshwater Development has announced the launch of the Penthouses at 111 State (111 State St.) in downtown Traverse City.
The luxury condominiums, now available for sale, will feature two, full-floor residences, priced at $2.95 million and $3.25 million.
Features include direct private elevator access to each residence, private parking, and private rooftop terraces with Lake Michigan views.
Targeted to end-users, second-home owners and investors in one of America’s most resilient real estate markets, 111 State is located in a desirable geographic location with natural resources, sandy beaches, biking and hiking trails, multiple golf courses, water sports, and wineries.
Each penthouse encompasses nearly 3,500 square feet of private interior and exterior space with five bedrooms, three bathrooms, a library, an open kitchen and dining area, and a light-filled great room with expansive corner windows.
Each home has a bespoke interior design package that includes natural marbles, white oak floors, top of the line appliances, 10-foot-high-plus ceilings, custom millwork, and oversized windows.
The private rooftop terraces extend the living space outdoors, complete with a custom pergola and the option to add an outdoor kitchen, a sauna, a cold plunge, or a hot tub.
“The Penthouses at 111 State have been a labor of love from the start,” says Andrew McCarthy, founder of Freshwater Development in Traverse City. “We took great responsibility building on a premier downtown corner, directly across from the new Rotary Square Park, and we’re honored to deliver this caliber of residential real estate to the region.
“Traverse City is a spectacular year-round destination and we wanted to create a luxury living experience focused on privacy and convenience, blocks from the beach and marina, near shops and restaurants, in the heart of downtown.”
The homes will have advanced soundproofing throughout, double-pane casement windows, and air filtrations systems.
Each residence has its own climate-controlled garage with oversized doors, ample storage, and EV charging stations. Architectural details include handmade brick, custom radius corners, and authentic pine on the façade.
The building is fully electrified, a first of its kind in the downtown Traverse City residential market.
As both owner and developer, Freshwater Development serves as the design architect and general contractor for each of its projects. McCarthy’s prior experience includes overseeing the development of more than $4 billion in skyscrapers in New York City with JDS Development and Avery Hall.
Construction on both penthouses is scheduled to be completed late summer 2025. For more information, contact Lydia Wiley at (231) 463-7262 or lydia@freshwaterdevelopments.com.
For more information about Freshwater Development, visit freshwaterdevelopments.com/.
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