New loft in Corktown sells for $500,000

- The real estate market has rebounded -- but this recent sale is Corktown is taking a lot by surprise.

Detroit's housing market scored big this week when a first-time home buyer shelled out over a half-million dollars to call this penthouse loft in Corktown home. The  1,300-square-foot loft -- just sold for about $500,000.

Listing agent, James Tumey says the property has earned its price tag including seven-foot windows and exposed brick. And, the penthouse loft  is housed in what was formerly a piano factory, built in the 1920s.

The new buyer is out of the country on business but Tumey says she's from metro Detroit and enjoys being downtown

Tumey said it is one more sign that the city is coming back.

Watch Ingrid Kelley's report for more.

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