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Luxury Condo Project in Eastover Filling Up After Lutgert Wraps Up Construction

by | Jun 12, 2024 | News

This article originally appeared in the Charlotte Business Journal.

A high-end condo development in Eastover is nearly sold out after construction recently wrapped.

The Regent at Eastover delivered at 130 Cherokee Road in February after a four-year project, with condos selling at just shy of $2 million to more than $3.8 million. Developer The Lutgert Cos. started work there in early 2020, demolishing existing buildings on 1.7-acre site.

Five units remain for sale in the 32-condo building, Mike Hoyt, Lutgert’s senior vice president of development, said in an email. The first home sale closed in March, and residents have started moving in, he added.

Seventeen condos at The Regent have sold in recent weeks, with several more still under contract, according to Realtor.com’s website.

The Regent includes three- and four-bedroom condos that range from 2,600 to 4,500 square feet. Each unit was designed to resemble a single-story home, with private elevator lobbies, terraces and gourmet kitchens.

The six-story building also houses a club room, fitness center, common areas, storage units on each level, private parking and a large rooftop terrace with an outdoor kitchen, fire pit and pet area.

Vertical construction on The Regent started late in 2020, with the project topping out in spring 2022. The development faced a delay early on after the building underwent a redesign, eliminating six units. Hoyt said that was done to meet market demand for larger units. All but four penthouse units had previously ranged in size from 2,447 to 2,994 square feet.

Premier Sotheby’s International Realty, the real estate division of Lutgert, is handling sales at The Regent. Naples, Florida-based Lutgert also worked with architecture firm SGA | NW, general contractor Hoar Construction and Marc Michaels Interior Design on the project.

Hoyt declined to share the total project cost. He did not rule out additional projects in the Charlotte market.

“We own other properties in Charlotte but have no specific plans as of today,” Hoyt said.

An entity tied to Lutgert purchased three parcels near The Regent site in August 2020. It paid $2 million for 2321 and 2325 Crescent Ave. and $750,000 for 119 Cherokee Road, according to Mecklenburg County real estate records. The firm has used the latter property as its sales office for The Regent project.

 

 

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