This riverfront condo in downtown Minneapolis sold for $4.235M

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It's one of the biggest property transactions seen in downtown Minneapolis.

This riverfront condo at Washburn Lofts, adjacent to the Mill City Museum on South 2nd Street, was formerly owned by ex-Ceridian CEO Lawrence Perlman and was sold this week for $4.235 million, the Star Tribune reports.

You can see pictures of the unit here.

The deal, closed by Cynthia Froid of Keller Williams Reality, shows the demand for luxury downtown apartments is growing, the newspaper claims, saying several seven-figure deals in recent months is kick-starting the city's upper-bracket market.

The apartment is a sprawling 4,362 square foot with three bedrooms, two bathrooms, four parking spaces and balcony views over the Mississippi River.

The Ultimate Minneapolis Condo Guide describes Washburn Lofts units as featuring expansive ceilings, huge sash windows, brick walls and exposed ductwork.

At almost $1,000 per square foot, it is one of the most expensive condo deals made in downtown Minneapolis. The buyer, the Business Journal reports, is a limited liability company named Ellem & Opie.

In recent years, Minneapolis has seen a surge in luxury apartment construction, with river view condos in particular carrying a premium.

The costliest unit on sale currently in the city is a 12,000 square foot, two-story apartment on the opposite side of the river from downtown, which has been on sale since last summer at a listing price of $8 million.

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