Sovereign Penthouse 4801 Under Contract

Sovereign Penthouse 4801

The secondary penthouse at Sovereign went under contract on October 1st and is set to close the first week or two in December. It should be interesting to see what the final sales price will be. In any case, it will be a substantial closing for the Atlanta condo market.

The single level penthouse has 7,853 square feet inside and 1,719 square feet of covered terraces, so there is a tremendous amount of space to configure. Any guesses on what it will close at? I have a number in mind, but it isn’t at $952 per square foot. However, I imagine it will be more than the Mansion’s duplex penthouse sale, which closed at $4,000,000. The Sovereign penthouse was offered at a list price of $7,480,000.

See my original blog post on the penthouse here.

Some examples of floor plans for Penthouse A & B can be found in a previous post


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5 Comments

  • OH NO!!! I was saving up for that one. Oh well, hopefully the other one stays off the market for a while. I have to get one of them!

  • Well since Regent Partners paid off its debt on 3344, they can afford to sit on prices. With that said the buyer definitely isn’t going to pay close to full price. I’m no expert but my WILD guess would be $5.2M-5.7M???

  • Not only have they paid off their debt but 3344 Peachtree stands a very good chance of landing the North American HQ of Sony-Ericsson which is re-locating to Atlanta from Raleigh. If they snag the HQ-with 200+ jobs- then the prospects for some residential sales increases as well; especially from some of the globe trotting execs who have pieds -a-terre around the world.
    Look for the next big project-and one that will have a strong preleased profile- coming from Regent Partners. The site behind 3344 has a site plan for an even taller building that features a 5 star hotel.