Hey me too and their founder likes real estate…super-sized real estate! Although I don’t think it’s organic.
Horst Rechelbacher – Aveda founder and current CEO and founder of Intelligent Nutrients just completed a $6.95 million cash purchase of all 3 units comprising the top two floors of the condo building, Phoenix on the River at the edge of St Anthony Main in Minneapolis.
This is huge…the largest condo purchase this year and at this point speculated to be the largest and most expensive condo in the state.
The sale price is obvious but to put the day-to-day “ownership” in perspective: the 18,172 sq ft comes with monthly association dues of $7,574 and yearly taxes of $96,315.
Plus the taxes are currently under-assessed by $2 million so I’m sure they will be going up soon!
If you’re in the market for a $7 million condo I would be happy to help you find one but just so you know we would probably have to buy a couple floors worth of units in a building to “make” one, and if that is a tad above your budget, I could help with something a bit less expensive too 😉
To read more about the condo sale check out Finance & Commerce’s article: