As you know, inventory is quite low these days, especially for Buckhead condominiums. Try looking for a 3-bedroom condominium in a top-tier building like 10 Terminus Place. You won’t find many. In fact, there is a shortage of 3-bedroom condos priced under $900,000 (a mere 16 condos are available right now). There are just 20 units are priced above $900,000, but the majority of those 20 units are well above $1,000,000.

That is one of the many things which makes my listing at Terminus so attractive. With approximately 2,762 square feet, 3 bedrooms, 3.5 bathrooms, separate den and two terraces, it’s hard to beat. This kind of space would cost over $2,000,000 at the neighboring Sovereign building.

I sold this condominium to my client when the original developer inventory was coming to a close. In fact, we were one of the last buyers to purchase in the building. I have sold many units in the building, but this is among my favorites. I love the open layout, fabulous master suite and tons of storage you find throughout the unit.

Normally I would post all the photos of the unit here on my blog, but I do have a terrific virtual tour for you to view. It has all the photos, plus some cool 360 degree views of the great room kitchen and master suite.

Click Here for the Virtual Tour (remember to click “full screen” when the tour loads)

The floor plan is below. Click it to make it larger!

Please contact me for a private showing! 404-822-4156

I don’t cover the rental market too much, but every so often a property comes to market that needs to be talked about. Penthouse 902N at 2500 Peachtree has been quietly offered for lease for quite some time, but now officially comes to market for lease at only $15,000 per month – furnished. It’s a stunning Buckhead condominium and is like no other property available.  The penthouse has been designed with the utmost attention to detail and manages to stay relevant by using some contemporary accents throughout.

Years ago, this penthouse hit the market for $13 million, a price tag that would have set the new standard for Atlanta’s luxury condo market. It never sold though. (Currently, we look to the St. Regis Residences to set the standards for the ultra-luxury condo market.)

It took two-years to transform the two-story penthouse from a shell to something that was livable. It involved bringing in experts and materials from around the world, right here to Atlanta. Inside you will find hand-crafted wood moldings, Israeli marble, exquisite flooring (mahogany, teak and onyx) and lighting fixtures from Europe. Spitzmiller & Norris Inc. was hired to create the four-bedroom, five and a half baths penthouse. The entire space is wired for sound and every conceivable gadget you can think of.

Click the “more” link to view all the photos. Once the page post loads, click on the photos to make them larger and scroll through them. I’d love to hear your comments so post them below! Click Here for More Photos & the Rest of the Feature

This stunning penthouse at The Astoria came on the market a couple weeks ago. I toured the space during a broker open and I can tell you first hand the space is extremely well done. Everything has been thought of down the tiniest detail. With approximately 4,040 square feet, you have plenty of room to stretch out inside. Outside there are four long covered terraces to enjoy, but the magic is really inside. Spectacular views of Buckhead and Midtown are seen through walls of glass.

One of my absolute favorite rooms in the condo is the indoor/outdoor lanai shown in the photo above. This room is enclosed in Nano hurricane-strength folding glass doors on all sides. These doors fold into themselves to open the room to the outdoors. The lanai also has a ventless gas fireplace for those chilly Atlanta evenings. Pretty clever and very well thought out considering the terraces are not large by any means. Click Here for More Photos & the Rest of the Feature

Chances are if you are going to my condo site (http://www.atlantaSKYrise.com) and blog, you are probably looking to view property listings and get as much detailed condo information as possible. I know there are numerous websites you can use to get information and search properties, but my goal is to have a content rich site where you can do everything you need, all in one place.

My site is updated throughout each and every day with the newest properties to hit the market, so it will show every single property available in Atlanta and the surrounding areas – provided they are listed in the MLS. For newer condo buildings, please contact me to find out what is available. Sometimes the developer/seller will only put a handful of listings in the MLS, while there are still a good number available to purchase. Remember to sign up for automatic updates!

Highlights on atlantaSKYrise ®:

• Convenient drop down to select your luxury condo project
• Access to all available Atlanta Penthouse listings – use the handy Penthouse Slider for quick access
• Multiple Options available to view available properties (with quick links to New Condo Listings, Price Drops and Foreclosures)
  • Search by Interactive map
  • Search by Radius *NEW
  • Search the entire MLS database live. Search condos, plus single family homes and & rentals
  • Search within a specific map area
  • Search pre-foreclosure and foreclosures
  • Search for price changes
• Register to save your searches and favorite properties
• Receive email alerts when I update my blog or send my e-blasts

Here is a recap of the most recently updated MLS features on atlantaSKYrise.com:

Highlight updates include: Full Screen Mode, Search Active, Backup/Contingent and Pending Listings, Radius Search Option, Birds Eye View of Property Location, Similar Listings Tab, Multiple Listing Price History, Add RSS Feeds for Easy Viewing of New/Updated Property Listings, Include Just or Exclude Pre-Foreclosure, Short Sale, Bank/Lender Owned Properties.

Click the link to right to continue reading the post. Click Here for More Photos & the Rest of the Feature

The Residences at the Mandarin Oriental Atlanta in Buckhead might be finally coming to a tipping point. They recently released a smaller unit with roughly 2,000 interior square feet on the 53rd floor of the building. The price is considerably lower than the other units in the building – $1.399 million. Could they be realizing the sweet spot for condominium buyers is around a million?

Lets face it, the building has had its fair share of ups and downs, but I think this is a step in the right direction. Lowering the price point to a place where a lot of activity is taking place is a smart move. The existing units in the building (that have been built out already) are still on the market today. They did lower the prices of those units as well by a couple hundred thousand dollars.

Back to 53A. This is a completely custom residence that features an open floor plan with the kitchen, dining and living room overlooking a huge covered terrace (with a fireplace and gas grill). The master bedroom has a sitting area, morning kitchen, large bathroom with great views and a huge closet. There is also one additional bedroom with en suite bathroom and walk-in closet.

The unit is located on the 53rd floor and is slightly less than half the entire floor in terms of square footage. The unit next door is a two-story unit which is comprised of a full-floor on 54 and a half-floor on 53.

Priced at $1.399, this will be the lowest priced completed unit in the building. The pricing is slightly more than units in the neighboring Sovereign condominium – where you can get about 2400 square feet for the same price. But then, you don’t have the Mandarine name.

At this point, you can pick out all interior finishes for the unit – as well as make additional changes (not included in the asking price).

What’s for sale at the Mandarin Oriental?

The St. Regis Residences Buckhead has planted its feet firmly at the top of the condo market, closing yet another shell in the 53-unit building. Yes, a shell for over $8,000,000 in the Atlanta condo market.

Residences 2410 and 2430 were sold to one buyer for $8,317,650 and have approximately 11,715 square feet of space – which works out to be $710 per square foot before any type of build-out.

Could we be at a turning point in the luxury condo market? The answer is yes on so many levels. You have heard me say it before. Our condo inventory has shrunk to unheard of levels and most of the buildings are near a complete sell-out of their inventory. The Ritz-Carlton Residences Buckhead has sold out of their two- and three-bedroom condos. The Brookwood has nothing left. Astoria has a few left.

There really aren’t many choices for new “shell” construction in Atlanta. Your choices are either the St. Regis Residences Buckhead or The Residences at the Mandarin Oriental. Other than these two condominium projects, you would have to completely gut your unit of choice and start from scratch. That could get very costly.

What’s for sale at the St. Regis Buckhead?

It’s yet another stellar number for a high-profile building in Buckhead.

The Ritz-Carlton Residences Buckhead managed to close 55 of its luxury condominiums in Buckhead, closing $39,570,400 in 2012 (with an average sales price of $719,462). It’s another great number for the condo market, as out inventory continues to dwindle. With no new condo buildings for 2013 and beyond (except rental buildings), I expect to see a very strong resale market in the not-so-distant future.

So how did the Ritz-Carlton Residences Buckhead manage to close so many units last year? They had the benefit of waiting to come to market until the timing was right. Other buildings came to market and then had to reduce their pricing in order to generate sales – like Terminus (remember those huge discounts?). The developers of 3630 Peachtree were quite smart in waiting. There have been no severe price reductions and buyers were able to get a lot for their money. Each unit comes with a storage space, a minimum of two-parking spaces (even for a one-bedroom unit), motorized shades and a complete kitchen Viking® appliance package (including a gas range), plus a washer/dryer. And lets not forget the legendary services of the Ritz-Carlton as well.

What’s left for sale in the building? Check it out below, but call me for information. They have limited inventory.