After sitting lifeless for quite some time, The Brookwood & The Atlantic will begin selling in about three weeks on August 26th. What does the future hold in store for these projects and what will the new pricing be? How long will it take to absorb these units and what will the demand be? Have buyers been patiently waiting to purchase in these projects?
The Brookwood was offering buyers huge incentives after struggling to get 20 people to commit to purchasing – and it is an amazing LEED building. Probably one of the best condo buildings built in Atlanta in quite some time. I have heard many unjustified rumors surrounding The Atlantic and it’s fate, everything from tuning it into college dorms, to rentals, mothball the building for a few years and so on… none of which were true. I’m not one to really believe rumors, which is why I do not post information like that.
The bottom line is in order to be competitive in our current market, the units need to be priced below market value to move. ST Residential has most likely already decided what the condos will be selling for and I will bring that information to you in the coming weeks. I would expect prices to be in line with the last round of incentives or even below those numbers.