Lutz Actual Property and Northern Equities Full $70 Million Renovation of The Albert Kahn Constructing into 206 Residence Models

Lutz Real Estate and Northern Equities Complete $70 Million Renovation of The Albert Kahn Building into 206 Apartment Units

DETROIT, MI – Adam M. Lutz of Lutz Real Estate Investments and Matthew Sosin of Northern Equities Group announced that their joint venture would complete the $ 70 million renovation of the Albert Kahn Building and convert it into 206 apartments called The Kahn Apartments has completed.

The 11-story, 320,000 m² Art Deco masterpiece in the New Center / Midtown North district of Detroit was built by the Fisher Brothers and designed by the famous architect Albert Kahn. Recognized in the National Register of Historic Places, the Albert Kahn Building first opened its doors in 1931 with a view of opulence and opportunity and housed renowned companies for 90 years, including Kahn's own architectural firm. The first floor, with 5.5-foot-high ceilings and massive windows that 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 in designing these apartments and restoring a historic landmark. Each of the 700 original windows has been removed, hand-restored, and reinstalled in its original location. It's the attention to those kinds of details that matter impressed visitors and led to significant rental results. "

As two fourth generation Detroiters, renovating the Albert Kahn Building was an endeavor and a point of pride for Lutz and Sosin. One bedroom apartments with floor plans from 530 to 1,317 sq. ft. The penthouse units have an internal staircase that is unique for each apartment. With interiors designed by the Detroit-based Kraemer Design Group, Lutz and Sosin ensured that the unique Art Deco architecture remained intact.

The community offers expansive views of the city and offers residents the most comprehensive list of amenities in all of Metro-Detroit. There are two lounges – "The Drafting Room", a sophisticated work area with a library and AK bar, and "The 1931 Room" which provides residents with an area to watch events on big screen TVs while playing board games. With Pallister Park nearby, The Kahn is a pet-friendly environment and offers a spa for residents' pets. The Kahn offers its residents a comprehensive fitness experience with a 3,000 m², professionally equipped fitness center as well as a yoga and spinning studio. In addition, the "Diamond K Club" is an outdoor roof terrace with barbecue stations and a breathtaking view.

"Our ultimate goal was not only to preserve the grandeur of the building, but also to improve and modernize where we saw opportunities," said Matthew Sosin, President of the Northern Equities Group. "We've been able to build contemporary, modern homes while honoring the entire legacy of one of Detroit's treasures. We believe everyone in Detroit will be proud of the results and expect The Kahn to see the New Center and the Midtown North neighborhood continues. "

The barge is managed by Beztak from Farmington Hills. A "Grand Re-Opening" ceremony is expected in September.


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