If you have been reading my quarterly results posts, you will notice in previous periods the sales in the upper ranges were few and far in between. The new data now shows the train has indeed left the station and more buyers are purchasing condos above the $800,000 price range. This is more than double the transactions from last quarter (on my previous list). The results are encouraging and exciting. As a side note, only two transactions on my list were cash and the rest were all financed (lenders are now starting to get comfortable with giving money to buyers in high-end condos).

I have targeted the highest sales above $800,000. Missing from the fourth quarter is Sovereign which had closings in every quarter up to now. But don’t worry, they have a condo under contract for $2,700,000.

1. St Regis Residences Buckhead Unit 1730 | Closed on 10/20 for $3,300,000 (MLS Available Properties)
2. Ritz-Carlton Residences Buckhead Unit 3402 | Closed on 12/1 for $2,414,394 (MLS Available Properties)
   
3. The Mansion on Peachtree Unit 41B | Closed on 11/18/ for $2,150,005 (MLS Available Properties)
4. The Bellingrath Unit 3 | Closed on 11/29 for $1,350,000 (MLS Available Properties)
5. The Brookwood Unit 1901 | Closed on 10/6 for $1,135,700 (MLS Available Properties)
6. Park Avenue Unit 29S | Closed on 12/15 for $1,165,00 (MLS Available Properties)
7. Ritz-Carlton Residences Buckhead Unit 3107 | Closed on 12/14 for $1,113,500 (MLS Available Properties)
8. Regents Park Unit 9 | Closed on 10/21 for $1,050,000 (MLS Available Properties)
9. West Wesley Townhomes Unit 4 | Closed 12/2 for $1,000,000
10. West Wesley Townhomes Unit 3 | Closed 11/2 for $1,000,000
11. West Wesley Townhomes Unit 5 | Closed 10/28 for $990,000
12. West Wesley Townhomes Unit 1 | Closed 11/7 for $980,000 
    
13. The Brookwood Unit 2001 | Closed on 11/11 for $970,000 (MLS Available Properties)
14. Above the Four Seasons Unit 4310 | Closed 12/19 for $919,900 (MLS Available Properties)
15. 2500 Peachtree Unit 704 |Closed on 10/26 for $895,000 (MLS Available Properties)
16. 2500 Peachtree Unit 606 |Closed on 11/29 for $830,000 (MLS Available Properties)
    
17. Ritz-Carlton Residences Buckhead Unit 2304 | Closed on 10/06 for $805,000 (MLS Available Properties)
    
18. Ritz-Carlton Residences Buckhead Unit 2104 | Closed on 12/13 for $799,500 (MLS Available Properties)

Aside from these results, there are 12 Pending Sales in FMLS (First Multiple Listing Service) ranging from $618,000 to $2,700,000 and 209 Pending Sales ranging from $200,000 to $579,900 as of today. So yes, there is activity in the market. This does not include units under contract that are not listed in the MLS, like from new construction developer units. And, as we learned in the past, we can’t count on pending sale because they may or may not close. What we can count on are solid sales.

Even if you can’t live in building, you can act like you do! The Mansion on Peachtree is hosting a movie night in their gorgeous English garden, directly under the stars. They are showing West Side Story, a musical about two youngsters from rival New York City gangs who fall in love.

The price of admission is $20.00 and includes 2 drinks, gourmet concessions and valet parking. The pre-screaning reception starts at 7:00 pm and the film at sunset.

Call 404-995-7545 for reservations.

Atlanta no longer plays a part in Tom Colicchio‘s restaurant plans. According to multiple sources, Craft & Craft Bar will close on February 14th. The chef still has Craft locations in Los Angeles, New York and Dallas.

“The restaurant’s agreement with the original owners of The Mansion on Peachtree, Mansion Centre Development LLC, was not assigned to the property’s new owners, 3376 Peachtree Rd – Atlanta LLC, when they took possession of the property in February 2010.

While efforts have been made by both parties to negotiate a new agreement, unfortunately, Craft and 3376 Peachtree Rd – Atlanta LLC could not agree on terms. The restaurant’s chef/owner Tom Colicchio is disappointed to be closing the doors and remains extremely proud of the Craft Atlanta team and all they have accomplished..”

There are a number of changes going on at the Mansion on Peachtree and the outparcel restaurant just seems to be another casualty. Inside the building, the former bar area has now been turned into casual dining. NEO is long gone and has been replaced with a large bar and stage – soon to get larger when they expand into the next room and enlarge the bar (drinking has become more popular and profitable).

Why would the new owners give the boot to a celebrity chef like Tom Colicchio? Seems like it would be to their advantage to have a notable chefs’ restaurant on the hotel property. Maybe the restaurant wasn’t very profitable? Maybe the space was too large? Challenging location? Why isn’t it moving to another Atlanta location?

It should be interesting to see what will take Craft’s place. It is a prime piece of Buckhead real estate and there are many people who drive by each and every day.

What are your thoughts on Craft and it’s pending closure?

The 2010 Atlanta Homes & Lifestyles Christmas House will be held this year at the Mansion on Peachtree in Buckhead. There will be two residences to view on the tour, which are roughly 3,393 and 3,754 square feet inside and each has a large octagonal private terrace of about 213 square feet. The website for the Christmas House states the units are on the 41st floor, but floor 41 & 42 are the privately owned duplex penthouse currently on the market for $4,999,000. I believe the show units are actually on the 25th floor. The Christmas House will be open for public tours Thursdays through Sundays, beginning Friday, November 26, and will end on December 12. If you are interested in learning more about the event, please click here.

I love to travel and when I do, I like to experience the best properties a city has to offer. Atlanta has a good number of luxury hotels to choose from. We have a Four Seasons, St. Regis, Ritz-Carlton and a Rosewood Hotel – all offering something unique. As I mentioned in a previous post, I recently stayed at the Mansion on Peachtree over the Fourth of July holiday. My stay was exceptional. The hotel was full of life and the staff was extremely attentive. I really love the interior design of the hotel because it’s a great mix of classic design and modern furnishings.

Over the past few months, the Mansion has had it’s fair share of up’s and down’s, but I really love the property, location and service. If you haven’t had a chance to check it out, you should put it on your list. It’s conveniently located on a prime stretch of Peachtree Road and is within walking distance to Phipps Plaza and Lenox Square. Click Here for More Photos & the Rest of the Feature