Condos already 70 percent reserved; available units hit MLS this week
MINNEAPOLIS, (May 7, 2019) – United Properties and its partner Greco announced today that Sable, the residential component of The Nordic, will now be offered as for-sale condominiums. These residences were originally planned to be rental units. Sable has a total of 57 units and more than half of them have already been reserved without any formal marketing campaign. The remaining units will be available on the MLS this week. Sable is located on the Third Street side of The Nordic project, United Properties’ modern warehouse-style mixed-use development located at 729 Washington Ave. N.
“Sable is a unique opportunity to own a piece of downtown Minneapolis,” said Gordy Stofer, vice president, office development, United Properties. “We’re pleased to offer the first new construction condominiums available in the North Loop in 10 years and have seen strong interest from prospective buyers so far.” Units will be ready for occupancy in June 2019.
Sable’s model of ownership offers residents owner-occupied living with more flexible HOA terms than others on the market. “Sable is poised to fill a gap in the market, offering increased flexibility and affordability for owners. Because of this, Sable has been especially attractive for millennial buyers who have been previously priced out of the market,” said Stofer.
Condos range from $250,000 to $975,000 with spaces beginning at 450 sq. ft. to more than 1,500 sq. ft. While the majority of units are offered as studio and one-bedroom units, seven larger two-bedroom units are also available. Sable features a rooftop deck with two outdoor fireplaces, two outdoor kitchens and uninterrupted views of downtown Minneapolis. Other features include a first-floor members’ lounge, fitness center, same-level parking for each floor and loft-style aesthetics, including 10.5-ft. exposed concrete ceilings and polished concrete floors.
“In addition to its loft-style aesthetics, Sable offers buyers the flexibility to rent their units out on a short-term basis in one of the most desirable neighborhoods in Minneapolis,” said Josh Brandsted, president, Greco. “Sable will strengthen the neighborhood by providing new opportunities for ownership.”
The Nordic will feature an active public plaza intended for outdoor seating, lawn games, winter ice curling and food trucks in addition to condominiums and office space. Ovative is the first tenant to occupy The Nordic; spaces for WeWork, Galley Group and Thr3 Jack are all currently under construction with expected completion this summer.
About United Properties
United Properties has been creating deep roots in the commercial real estate industry for more than 100 years. The company imagines new possibilities in real estate to help strengthen communities and create lasting legacies. United Properties provides market expertise for ground-up development, redevelopment and acquisitions of value-add and stable investments. The company invests in and develops office, industrial, retail, mixed-use and senior housing properties. United Properties is owned by the Pohlad Companies and is headquartered in Minneapolis, with an office in Denver. For more information, visit www.uproperties.com or follow on Twitter at @UPDeepRoots.