TRAVERSE CITY, Mich.–(BUSINESS WIRE)–Freshwater Development, a design-forward real estate development firm, today announced the launch of the Penthouses at 111 State in downtown Traverse City. 111 State features two exceptional full-floor residences, priced at $2.95m and $3.25m, that are poised to become the most luxurious new construction penthouses in the growing region and may set price records in the state of Michigan. The for-sale condominiums offer an unparalleled lifestyle with direct private elevator access to each residence, private parking and spectacular private rooftop terraces with Lake Michigan views. Ideal for end-users, second-home owners and investors in one of America’s most resilient real estate markets, 111 State benefits from a prime geographic location with natural resources, gorgeous beaches, biking and hiking trails, top ranked golfing, water sports and adventure.
Each penthouse encompasses nearly 3,500 square feet of private interior and exterior space with five bedrooms, three bathrooms, a library, an open kitchen and dining area, and a light-filled great room with expansive corner windows. The private elevator provides direct access from the lobby into the residence and continues up to the rooftop terrace with incredible views of Lake Michigan. Each home has a bespoke interior design package that includes natural marbles, white oak floors, top of the line appliances, over ten foot ceilings, custom millwork and oversized windows that floor the space with natural light from multiple exposures. A private rooftop terrace extends the living space outdoors, complete with a custom pergola and the option to add an outdoor kitchen, sauna, cold plunge, or hot tub. The terraces offer incredible entertaining and outdoor dining opportunities with stunning views of Grand Traverse Bay on Lake Michigan and Rotary Square Park.
“The Penthouses at 111 State have been a labor of love from the start. We took great responsibility building on a premier downtown corner, directly across from the new Rotary Square Park, and we’re honored to deliver this caliber of residential real estate to the region,” said Andrew McCarthy, Founder of Freshwater Development. “Traverse City is a spectacular year-round destination and we wanted to create a luxury living experience focused on privacy and convenience, blocks from the beach and marina, near shops and restaurants, in the heart of downtown. Construction is scheduled to be completed by the end of summer and we are thrilled to launch sales this week.”
Founded by real estate veteran Andrew McCarthy, who brings extensive experience working on iconic New York City skyscrapers such as the Steinway Tower, Freshwater Development is creating a new level of sophistication and craftsmanship in Traverse City. Freshwater Development is recognized for its uncompromising commitment to quality, building to the highest standards. The homes have advanced soundproofing throughout, double-pane casement windows, and air filtration systems, to ensure energy efficiency and serene interior quiet. Each residence has its own climate-controlled garage with oversized doors, generous storage, and EV charging stations. Architectural details such as handmade brick, custom radius corners, authentic pine on the facade combined with natural marbles, white oak floors, solid wood cabinetry, and custom millwork details on the interior, make these homes truly unique and poised to attract buyers from luxury markets around the world. The building is fully electrified, a first of its kind in the downtown Traverse City residential market.
A few blocks from the beach and Clinch Marina, the homes have been designed for a lifestyle of privacy and convenience, located steps from restaurants, shopping, and trailheads. These two homes have been thoughtfully built with the finest materials and executed with meticulous attention to detail, all supported by Freshwater Development’s signature white-glove service, an experience that continues well beyond closing day.
Construction on both penthouses is scheduled to be completed late Summer 2025. For more information, contact Lydia Wiley at (231) 463-7262 or [email protected].
About Freshwater Development:
Freshwater Development is a design-forward real estate firm specializing in luxury residential projects in Traverse City, Michigan. As both owner and developer, Freshwater serves as the design architect and general contractor for each of its projects, ensuring a cohesive vision and exceptional execution from concept to completion. Founded by real estate veteran Andrew McCarthy, the company is committed to craftsmanship, rooted in respect for context, creating thoughtful developments with exceptional finishes and sophisticated design in the beloved Traverse City community. McCarthy’s prior experience includes overseeing the development of over $4 billion in iconic NYC skyscrapers with leading firms like JDS Development and Avery Hall. Freshwater Development has already made a significant impact on the Northern Michigan luxury real estate market, having recently sold the most expensive home on all of Lake Michigan in 2024, which went under contract while still under construction.
Contacts
Media:
Victoria Shannon
Co-Founder, August PR
[email protected]
631-525-3394
