DETROIT, July 21, 2021 / PRNewswire / – Adam M. Lutz of Lutz Real Estate Investments and Matthew Sosin of Northern Equities Group today announced that their joint venture has completed the $ 70 million renovation of the Albert Kahn building and its conversion in 206 apartments, now named The Kahn Apartments (TheKahnDetroit.com).
Located in Detroit’s New Center / Midtown North neighborhood, the 11-story, 320,000-square-foot Art Deco masterpiece was built by the Fisher Brothers and designed by famed architect Albert Kahn. Recognized on the National Register of Historic Places, the Albert Kahn Building opened in 1931 with opulence and opportunity in mind and was home to prestigious firms, including Kahn’s own architectural firm for 90 years. The first floor, with 18 foot high ceilings and massive windows, which once housed Saks Fifth Avenue, is available and ready for a new office, showroom, or retail tenant.
“The Albert Kahn Building was originally designed as one of Detroit’s crown jewels,” said Adam M. Lutz, CEO of Lutz Real Estate Investments. “That was the mindset we had when designing these apartments and restoring a historic monument. Each of the original 700 windows has been removed, hand restored and reinstalled in its location. original. It was the attention to these types of details that impressed visitors and led to significant rental results. “
As two fourth-generation Detroiters, the renovation of the Albert Kahn Building was a business and a point of pride for Lutz and Sosin, and included the conversion of offices on floors 2-11 into 206 studios, one, two and three. . bedroom apartments with floor plans ranging from 530 to 1,317 square feet. The penthouse units have an interior stairwell unique to each apartment. With interiors designed by Detroit-based Kraemer Design Group, Lutz and Sosin have ensured that the one-of-a-kind Art Deco architecture remains intact.
The community offers breathtaking views of the city and offers its residents the most comprehensive list of amenities in all of the Detroit metro. There are two lounges – “The Drafting Room”, a sophisticated workspace with a library and includes the AK Bar, and “The 1931 Room”, which offers residents a space to watch events on large screen televisions while playing parlor games. With Pallister Park nearby, The Kahn is a pet-friendly environment and offers a spa area for residents’ pets. The Kahn offers residents a full gym experience with a professionally equipped 3,000 square foot fitness center, as well as a yoga and spinning studio. In addition, the “Diamond K Club” is an outdoor rooftop terrace with grilling stations and breathtaking views.
“Our ultimate goal was not only to maintain the grandeur of the building, but to improve and modernize where we saw opportunity,” said Matthew Sosin, president of Northern Equities Group. “We have been able to establish contemporary and modern homes while honoring the overall legacy of one of Detroit’s treasures. We believe everyone in Detroit will be proud of the results and expect The Kahn to do so. more engaged in the New Center and Midtown North neighborhood. “
The Kahn will be managed by Beztak, based in Farmington Hills. A “Grand Reopening” ceremony is scheduled for September.
For more information, please visit www.thekahndetroit.com
About Lutz Real Estate Investments
Lutz Real Estate Investments (lutzinvestments.com) is a private real estate organization that has owned and operated virtually all classes of real estate assets for almost 60 years. Lutz is a team of seasoned and dedicated professionals with considerable expertise in acquisitions, development, finance and property management.
About Northern Equities Group
Northern Equities Group is a full-service real estate development and investment firm engaged in all aspects of real estate acquisition, development, investment, construction and management. With major holdings in Michigan, Arizona and Colorado, the company has developed more than $ 1 billion in real estate.
For more than six decades, Beztak has developed, built, managed and invested in luxury residential buildings, senior residences, commercial and industrial buildings across the United States. Today, Beztak owns and manages a diverse portfolio of commercial, office, retail, senior and multi-family residential real estate, and continues to develop and build new properties as well as renovate existing properties. to add value or reposition them in the market. . Beztak also offers comprehensive and customizable paid property management services for businesses looking to generate higher income from their assets while improving their overall performance.
Based in Farmington Hills, Michigan, Beztak has offices in Boca Raton, Florida and Phoenix and Tucson, Arizona, with communities currently located in Alabama, Arkansas, Arizona, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Michigan, Mississippi, Ohio, Oklahoma, South Carolina, Tennessee and Washington DC. For more information, visit www.beztak.com.
View original content to download multimedia: https://www.prnewswire.com/news-releases/lutz-real-estate-and-northern-equities-announce-re-opening-of-the-albert-kahn-building -introducing -the-kahn-apartments-301338028.html
SOURCE North Action Group; Lutz real estate investments