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2987 Franklin St #Penthouse, Detroit, MI, 48207

4beds
5baths
4,860sqft
$1,885,000
$388price/sqft
$15,462/moest. monthly cost
$618,480/yrincome needed

About This Home

Spanning nearly 5,000 square feet across multiple levels, this extraordinary Rivertown penthouse is a true collector’s property—where architecture, craftsmanship, and panoramic views of both Detroit and Canada converge. Designed for both intimate living and large-scale entertaining, the residence opens to an expansive 1,750-square-foot private outdoor terrace—an exceptional extension of the living space and one of the largest of its kind in the city. The fully reimagined 2022 kitchen is a statement in design, featuring creamy-white custom cabinetry, illuminated vitrine accents, and a sculptural island with secondary sink. A custom staircase by Detroit artist Logan Merry creates a striking architectural connection to the main living areas. Throughout the home, bespoke elements define the experience: a hand-carved marble wood-burning fireplace, restored cathedral wood doors, and thoughtfully curated materials that elevate every space. The primary suite is a private retreat, complete with a freestanding copper soaking tub positioned for skyline views, an expansive mosaic glass steam shower, and a fully enclosed water closet. A secondary ensuite features a dramatic black granite soaking tub, continuing the home’s theme of elevated, spa-like living. Floor-to-ceiling windows with motorized shades frame the city beyond, while every detail—from material selection to spatial flow—reflects a disciplined, design-forward vision. Two dedicated parking spaces in a gated adjacent lot complete this exceptional offering. A truly rare opportunity to own a bespoke penthouse of scale, character, and presence in Detroit.

Getting Around

83
WalkingVery Walkable
50
TransitGood Transit
84
BikeVery Bikeable

Schools

Construction

Condition

  • Year built: 1943

Materials

  • Foundation: Basement,Poured
  • Roof: Rubber
  • Construction materials: Brick,Metal Siding

Notable Dates

  • Major remodel year: 2020

Type & Style

  • Home type: Condo
  • Architectural style: Loft,Split Level
  • Property subType: Condominium

Interior

Appliances

  • Appliances included: Built In Gas Oven,Dishwasher,Dryer,Free Standing Refrigerator,Gas Cooktop,Vented Exhaust Fan,Washer,Wine Refrigerator

Basement

  • Has basement: Yes
  • Basement: Common,Unfinished

Bedroom

  • Level: Entry
  • Area: 225
  • Dimensions: 15 X 15

Bedroom

  • Level: Entry
  • Area: 225
  • Dimensions: 15 X 15

Bedroom

  • Level: Entry
  • Area: 225
  • Dimensions: 15 X 15

Bedrooms & Bathrooms

  • Bedrooms: 4
  • Bathrooms: 5
  • Full bathrooms: 4
  • 1/2 bathrooms: 1

Features

  • Elevator,Entrance Foyer,High Speed Internet,Programmable Thermostat,Sound System,Wet Bar
  • Fireplace features: Great Room,Wood Burning
  • Fireplace: Yes
  • Finished area above ground: 4,860

Heating

  • Heating features: Forced Air,Natural Gas

Interior Area

  • Total interior livable area: 4,860 sqft

Kitchen

  • Level: Second
  • Area: 735
  • Dimensions: 35 X 21

Living Room

  • Level: Entry
  • Area: 700
  • Dimensions: 20 X 35

Other

  • Level: Entry
  • Area: 90
  • Dimensions: 6 X 15

Other

  • Level: Entry
  • Area: 90
  • Dimensions: 6 X 15

Other

  • Level: Entry
  • Area: 72
  • Dimensions: 6 X 12

Other

  • Level: Second
  • Area: 20
  • Dimensions: 5 X 4

Primary Bathroom

  • Level: Entry
  • Area: 192
  • Dimensions: 12 X 16

Primary Bedroom

  • Level: Entry
  • Area: 480
  • Dimensions: 24 X 20

Property

Details

  • Parcel number: W11I000072S014
  • Special condition: Short Sale No,Standard
  • Exclusions: Exclusion(s) Do Not Exist

Features

  • Levels: Bi Level
  • Entry location: UpperLevelwElevator
  • Patio & porch: Patio
  • Exterior features: Balcony,Permeable Paving

Parking

  • Parking features: Assigned 2 Spaces,Direct Access,Parking Lot,No Garage

Climate Risk is Financial Risk

Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.

Biggest Threats for This Home

  • Cold Wave
    Cold WaveModerate
  • Heat Wave
    Heat WaveModerate
  • Strong Wind
    Strong WindModerate
  • Tsunami
    TsunamiInsufficient Data

How This Home’s Risks Compare

Cold Wave
Heat Wave
Strong Wind
Tsunami

FEMA Declared Disasters in Wayne County and Michigan

Flood
Severe Ice Storm
Severe Storm
Tornado
Winter Storm

Understanding the Costs

Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.

Estimated Costs Today

MonthlyAnnual
Mortgage $9,531$114,372
Home Insurance *$3,092$37,104
Property Taxes $2,309$27,708
Electricity $530$6,361
Total$15,462$185,544
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$530,125/yr
40% on housing$463,860/yr
45% on housing$412,320/yr

Michigan FAIR Plan Programs

Michigan Basic Property Insurance Association

Covered
WildfireWildfire
HailHail
WindWind
Visit Website →
Current Policies
Residential: 15,981Commercial: 293
Total Premiums$13.85M
Total Exposure$2.60B

How Costs Could Change Over Time

Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.

Insurance Growth Rate5-year average: 9.0%
9.0%
0%30.0%
Electricity Growth Rate10-year average: 3.9%
3.9%
0%15.0%
Property Taxes Growth Rate2-year average: 0.8%
0.8%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$388This listing

vs Other Active Listings

Avg $/sqft

ZIP 48207$113
Wayne County$99

vs Homes Sold Last Month

Median $/sqft

ZIP 48207$87
Wayne County$129

Current Market Trends

Median Price Per Square Foot

The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.

Historicals for This Listing

Zestimate History ($/sqft)

Price History

DateEventPrice
2026-05-01Listed for sale$2,175,000

For Sale by Agent

AgentRandall S Fogelman
BrokerageO'Connor Realty Detroit, LLC

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