Late hair care products entrepreneur Horst Rechelbacher bought two unfinished floors in the Phoenix on the River condo building for $7 million and then had this condo space designed and built to his own style.
Sam Black
Senior reporter- Minneapolis / St. Paul Business Journal
A Minneapolis riverfront condominium that belonged to late Aveda founder and hair-care entrepreneur Horst Rechelbacher is for sale for $8 million.
Rechelbacher paid $7 million to buy the top two unfinished floors of a building overlooking St. Anthony Falls in 2011. He spent another $2.7 million to have a 12,000 square-foot condo built in the space before he died from pancreatic cancer in February.
That condo, which takes up two-thirds of the two floors, is listed for sale by agents Barry Berg and Chad Larsen of Barry Berg Group/Coldwell Banker Burnet, based in Minneapolis.
The listing describes the condo as an “incomparable 2-story penthouse with private elevator, 8 parking spaces, and a commanding 270 degree view overlooking the Mississippi River and Minneapolis skyline.”
The property has three bedrooms and five baths, plus seven private terraces and balconies.
Rechelbacher’s idea for the entire 18,000-square-foot space was to have enough room for a development lab and studio space, as well as room to house visitors who consult on new products, according to a 2011 Star Tribune story. A second condo unit on part of the 17th floor, with about 8,000 square feet, hasn’t yet hit the market.
Minneapolis-based U+B Architecture Design Inc., which designed the space, says on its website that its client [Horst] wanted a museum-like space to display a vast collection of art and artifacts. One feature of the clean, modern design that it highlighted was the stair with glass guardrails and lighting incorporated into the risers of the stairs between building levels.
Greiner Construction Inc., based in Minneapolis, was the lead contractor on the renovations, which were completed in 2013.
Sam Black covers real estate, manufacturing and economic development.
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