The Mansion on Peachtree sold yesterday at an auction to iStar Financial for $66.1 million. That’s nearly a 65% drop from the estimated $197.4 million in loans for the project. In June 2009, the duplex penthouse shell sold for $4,000,000 - nearly 61% off the original asking price. Read the rest of this entry

My Piedmont Park facing listing at Luxe in Midtown is the best available condo in the building. It’s loaded with tons of upgrades and is priced below market value at $569,900. Other units in the stack have closed higher. On the 19th floor, you clear the surrounding buildings for stunning views of Buckhead and Piedmont Park. Read the rest of this entry

Streets of Buckhead developer Ben Carter said Wednesday he is in talks with private investors to raise $200 million to resume work on the stalled luxury retail project. Carter told The Atlanta Journal-Constitution he conferred last week with investors about how to get the massive development completed. Unable to get a traditional bank loan amid the credit crunch, Carter said he has been seeking private investment money instead — a position many developers are in. Read the rest of this entry

When I attended the TweetUp, Steven Spivak, Director of Sales & Marketing for Loews Hotels advised us the condos on top of the hotel would most likely be corporate type rentals. Currently, Atlanta has a large number of condo rentals available, but many are unfurnished. The Loews can definitely fill a void in our market for luxury furnished rentals. They are pretty scarce if you dig deeply and try and find something worthy of a corporate executive. Read the rest of this entry

Today I attended my first TweetUp. The idea was to get a bunch of Tweeters together to explore the new Loews Hotel in Midtown. We were the first people to see the inside of the hotel, so it was quite special.

If you follow me on Twitter, you probably already read my comments as I was wandering through the hotel. If not, you can always go back and read them because there is some great information there.

Above is the Lobby. It’s a beautiful space with huge ceilings, great finishes and can accommodate a large number of people. Loews doesn’t have dedicated front desk people. Everyone on the floor can assist you with your needs. Think of it like concierge service. Ask and you shall receive… I’ll test those limits when the hotel opens. Read the rest of this entry