Metal penthouse atop century-old Minneapolis warehouse in Lyn-Lake lists for $2.4M

Bruce Dachis’ penthouse condo built atop an old warehouse in Minneapolis is a study in contrasts, in several ways.

It’s one of the most modern condos in one of the oldest buildings in his neighborhood. Despite being in a busy Lyn-Lake area, he has the ultimate privacy and solitude. He’s immersed in the elements but never has to put on a jacket or shoes to go outside. And finally, Dachis’ fourth-floor lair functions every bit like a condo, but he doesn’t share a wall or hallway with any adjoining neighbors.

Despite all of its benefits, Dachis is ready for his next (unplanned) adventure, listing it for $2.4 million to make this condo the most expensive for sale in that part of the city.

“I don’t know what my next thing is going to be,” he said. “It’s a struggle. I can’t duplicate anything I have here anywhere else.”

Matt Baker, the sales agent who has the listing for the three-bedroom, two-bath condo, called it an urban oasis. With a heated two-garage connected directly to a private elevator, the condo is the “height of both convenience and security.”

“This is really one-of-a-kind,” he said.

The unit has been on the market for about three months, Baker said. Condos in the Twin Cities metro are taking longer to sell than single-family houses, but Baker said there have been several notable $1 million-plus condo sales in the city recently. One of the most recent was a two-bedroom, three-bathroom penthouse in Uptown on nearby Lake Street, which closed during the third week of November for $1.9 million after just hitting the market last month for $2.195 million. It most recently sold in 2022 for $1.6 million

There are several theories as to why. Some agents say homeowners association dues have spiked recently in part because of insurance increases. Others note that with the proliferation of luxury rentals having the latest-and-greatest resort-style amenities, many would-be condo buyers are going the rental route instead. And within the past few years, luxury condo buyers have had more choices: More than 200 $1 million-plus condo units hit the market upon completion of the Eleven on the River and Four Seasons projects in downtown Minneapolis.

During October, there was a 34% increase in the supply of for sale condos throughout the Twin Cities metro compared with a nearly 8% increase for all property types combined, according to the latest data from the Minneapolis Area Realtors. At the current sales pace, there were enough condo listings to last almost 4½ months, a balanced market between buyers and sellers.

The prospect of building the condo came to Dachis several years ago after a divorce and move from a house on a big wooded lot. Dachis had bought the three-story brick and timber warehouse building many years ago and converted it into offices.

Seeking the same kind of privacy he had in his single-family house and yearning to expand on the vibrancy of the community he’d created within the 120-or-so-year-old building, he initially planned to build about a half-dozen individual apartments on the roof: one for him, one for a vacation rental and a few standard rentals.

Then reality struck.

“I had been in the apartment business, and I didn’t want to live next to my tenants,” he said.

So in 2021, he pivoted to another plan: a single living space reminiscent of the one he had owned in a high-rise building overlooking Times Square in New York City.

In his Minneapolis condo, Dachis would have more space, and he’d be able to add an elevator on the outside of the building connected to a new, private garage. He’d also have several private outdoor spaces that he could enjoy with guests.

“It’s not NYC, but it’s nice to walk out and enjoy the city,” he said.

To design his new home, he commissioned Christian Dean, an architect who had an office on one of the lower floors of the building.

“I saw him every day and said, ‘Do you want to design my house?’” Dachis said.

Dean was ready for the challenge.

The first big decision was to build a 3,000-square-foot structure on a roof with no adjacent staging area for materials. Just maneuvering the building materials to the roof was going to be time-consuming and expensive using the building’s freight elevator. So Dean and Dachis quickly agreed that structural insulated panels (SIPs) would be a much better option because the panels are made in a factory, trucked to the site and craned to the rooftop for assembly, like a big Lego project in the sky.

There was another upside to that plan. SIPs, which Dean had used on other jobs, are extremely durable and energy-efficient. Dachis said although the condo has several walls of floor-to-ceiling windows (like his condo in New York City), his heating and cooling costs are very affordable: less than $1,000 a year.

Plopping a new residential structure onto the roof of a brick warehouse more than 100 years old created something of a design dilemma. Instead of replicating the historic look of the building, Dean thought it best to transition to a completely modern, minimalist structure. So the big “box” has aluminum sheet panels, milled specifically for the project at a nearby metal supplier,

“We wanted it to be a very strong object that’s distinct from the old one,” said Dean, owner of Christian Dean Architecture.

There was another unique challenge: The sloped roof of the old building meant Dean needed to place the structure on a set of steel girders that straddled the brick parapet wall extending slightly above the rubber membrane roof.

From an aesthetic standpoint, elevating it above the roof itself helps nurture the sense that the condo is floating effortlessly above the building beneath it.

“There are days when the sky is overcast when it looks very ephemeral,” Dean said. “And you’re the only person up there. You have neighbors, but they’re out in space and all around you.”

Matt Baker (612-860-4222, mbaker@cbrealty.com) of Coldwell Banker Realty has the $2.4 million listing.