It’s not surprising condo closings above $1,000,000 haven’t been all too great in the past year, but the question is are luxury sales picking up in Atlanta? Slow and steady wins the race? In today’s real estate climate, luxury developers are willing to give incentives to buyers, but would rather keep their pricing where it is – and that means units stay on the market sitting empty for months. Some luxury projects have not seen any new sales this year, and those include The Mansion on Peachtree, W Downtown Atlanta Residences and the St. Regis Residences in Buckhead.

Most of the movement in the condo market has been in the lower and middle end, leaving room for a huge buyers market in the upper end of the spectrum. That being said, what are luxury condo buyers purchasing above $1,000,000? Penthouses! When you look at the sales below, you’ll notice 5 of the 8 closings have been penthouse sales. Two more are in my favorite building – Sovereign. In that building, buyers are purchasing the larger units and nothing under $1,000,000 has closed. The Astoria also closed a larger unit very close to the million dollar mark. Unit size and location do matter!

1. Ritz-Carlton Residences Buckhead Penthouse 3401 | Closed on 3/16 for $2,582,500 (MLS Available Properties)
2. Sovereign Unit 4301 | Closed on 2/7 for $2,100,0000 (MLS Available Properties)
3. Sovereign Unit 4101 | Closed on 2/24 for $1,775,000 (MLS Available Properties)
4. 10 Terminus Place Penthouse 3201 | Closed on 2/15 for $1,700,000 (MLS Available Properties)
5. 10 Terminus Place Penthouse 3101 | Closed on 2/15 for $1,300,000 (MLS Available Properties)
6. Gallery Residences Penthouse 2602 | Closed on 3/31 for $1,000,000 (MLS Available Properties)
7. The Astoria Unit 904 | Closed on 2/11 for $935,000 (MLS Available Properties)
8. 805 Peachtree Penthouse 605 | Closed on 1/31 for $725,000 (MLS Available Properties)

In the second quarter of 2011, Sovereign, the Ritz-Carlton Residences and The Brookwood are set to close condos above $1,000,000.

The newly opened Ritz-Carlton Residences Buckhead closed the largest penthouse  in the building (3401) last month on March 16th. It is the highest priced sale in the building since opening its doors. The penthouse fetched a price of $2,582,500.00 with approximately 4,745 square feet of space. The sales price will include the buildout of the space.

This Ritz-Carlton Residences has closed a total of 9 units so far, soon to be 10 next week when my clients purchase a fabulous 20th floor 2-bedroom, 2.5 bath corner home with a separate den.

What’s for sale in the building? Take a look by clicking the slider below.

The wait is finally over! Now that the pricing has been approved and the residential loan has been paid off, everything is full speed ahead. Closings can happen as early as November 1st, just in time for the holiday season to arrive. The Ritz-Carlton Residences Buckhead offers luxury living in one, two and three bedroom residences, each with floor-to-ceiling windows and premium finishes. All units, with the exception of the penthouse units, are completed and ready for you to decorate. Call me today to set up an appointment to view these beautiful condos.

Many of you have been waiting to find out what is going on with the Ritz-Carlton Residences Buckhead for quite some time. There has been a lot going on behind the scenes to make this project a success and we are finally seeing some activity and life. It’s been slow going, but sometimes it’s not so important how fast you get to the finish line.

The good news is Post paid off the residential portion of the 3630 Peachtree tower and now own that portion outright. There are only a handful of condo buildings in town that are able to say that, including 10 Terminus Place, Sovereign and now the Ritz-Carlton Residences Buckhead. Many buyers are hesitant to be one of the first to purchase in a new building, but really there are a lot of opportunities in doing so. We can get into that another time. Keep reading to see how Post paid off the condo portion of the tower. Click Here for More Photos & the Rest of the Feature

Last week we looked at the exterior amenities of the new Ritz-Carlton Residences Buckhead. Today I’m bringing you inside for your first exclusive look at the public spaces found on the lobby level, as well as the 18th and 19th floors of the building. Bob Brown designed the interior spaces and did an amazing job. The spaces are defined, elegant, timeless and subtle all at the same time.

Pictured above is the residents lobby on the main level. As you enter the space, there is a curved reception desk in front of you. Two large pieces of artwork frame both ends of the space and there are two comfortable seating areas to relax in. The banquet shown below is really well done and is quite unique. I haven’t seen anything like it in a condo building. Rich wood paneling wraps around some of the space to warm everything up.  Even the floor has a very subtle pattern of two different colors of marble. You can barely see it and it’s a great way to give the space some depth. Click Here for More Photos & the Rest of the Feature

I’m so pleased to show you these exclusive photos from the new Ritz-Carlton Residences Buckhead! I recently toured the property and everything looks so beautiful and chic. The public spaces have been designed to perfection and the finishes that were chosen will never go out of style. I think buyers will be surprised at the attractive pricing and value for this prime Buckhead location. Stunning city views are found all throughout the amenities area. Today, I’m showing you the outdoor spaces (next week I’ll bring you inside the building). Shown above is the outdoor dining room, complete with a fireplace, tv, seating for six and a large gas grill. Check out your view! It’s pretty spectacular. Click Here for More Photos & the Rest of the Feature