Detroit’s Most Expensive Home Only $2.5 Million

By Douglas A. McIntyre Updated Jan 12, 1:01PM EST · Published Apr 13, 6:10AM EDT

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Detroit’s Most Expensive Home Only $2.5 Million — © Thinkstock

[cnxvideo id=”655384″ placement=”ros”]A 14,000 square foot, riverfront home with six bedrooms would sell for over $10 million in many cities. In rich cities like Greenwich, Connecticut, the price could be more than double that. In Detroit, the most expensive home on the market, which offers all these things, has a price tag of $2.49 million.

The price per square foot for 18 Sand Bar Lane in Detroit is $173. Comparable homes for sale in Greenwich run closer to $750 per square foot. It is an ugly reminder of the value of location. The house at 18 Sand Bar Lane is an example of the problem with owning, or selling, the most expensive home in a neighborhood.

The listing:

If you always dreamed of being able to walk out of your back door and take a romantic midnight sail through your city here is your opportunity. Enjoy the moon sparkling on the Detroit River as you sail towards the iconic Renaissance Center. Enjoy 135ft. of fixed boat dock right off of your back yard to the beautiful Lake St. Clair. Your privacy is first and foremost with this guarded and gated prestigious community. Relish in over 14,000 sq.ft. of functionality with marble floors throughout the foyer and living room, soaring great room with floor to ceiling windows, private gym or rec. room, media room for movie night or the big game, a private walk out terrace adjoining each bedroom suite over looking the Detroit River. Take the elevator to the third level and enjoy an additional 3500 sq.ft. of entertaining space, a gourmet kitchen, two full bars and two additional walk out terraces overlooking Belle Isle, and the Downtown Detroit skyline. Mins. to Grosse Pointe or Downtown Detroit.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.