Committed to Educating the Public About Today's Credit Unions

News & Insights

‘Nonprofit’ Maine Credit Union Selling $2 Million Luxury Condo

News & Insights

One credit union here has an unusual item for sale: a $2-million condominium.

cPort Credit Union has listed a luxury condo on the top two floors of its newest branch in Portland’s East End. The 2,570-square-foot residence, listed this week by Legacy Properties Sotheby’s International Realty, is in one of the city’s hottest development areas, with a view of the waterfront, according to Mainebiz. The credit union told the publication the residential property is a first-time event, and that it did so to make the most of the two floors it couldn’t use for office space without a required second stairwell.

“We’re maximizing the value of this property,” Gene Ardito, cPort’s president and CEO, told Mainebiz, adding the credit union could have listed the condo even before construction, but held off until completion because “we felt this was the kind of space you had to see.”

cPort bought the land in 2015 prior to a building boom that has attracted newcomers, Mainebiz reported.

Quartz Countertops, Private Elevator

The property includes quartz kitchen countertops, an interior bar area that leads to the outdoor rooftop terrace and Sonos smart-home technology to control everything from lighting to music. The condo has its own entrance and elevator, and offers a walkable neighborhood and waterfront access, the publication stated.

Read Full Story.