Two-story penthouse once owned by Aveda founder sells for $4 million


A two-story Minneapolis penthouse formerly owned by the founder of Aveda recently sold for nearly $4 million.

The condo, located in the Phoenix on the River building, is one of three units that were established from space that was once owned by Horst Rechelbacher, who created the beauty and cosmetic brand Aveda and later sold the business to Estée Lauder.

The unit sold March 9 at full asking price, according to an electronic certificate of real estate value filing. It was first marketed for sale…

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