The President of Shinola, Jacques Panis, bought a home in Detroit last year and just like the fancy bikes his company makes, it was a luxury item. The home languished on the market for years and dropped the ask down several times before stopping at $499K for a while. Designed by Louis Kamper, this mansion is one of the larger Indian Village offerings at 9,300 square feet. Add to that a triple lot for a yard. So how much bike money did it cost him in the end?
In a deal that closed in November 2013, Panis plunked down $485,000 for the three-story, seven-bedroom home. A local real estate agent confirms that at that price, this is the most expensive sale in the Villages for at least the last two years. There's a rumor the house is getting a serious, ongoing renovation. Seen any construction work over there? Drop a note to the tipline.
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