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.

With 90% of the units in the building already sold, there isn’t much inventory left if you want to live at Luxe. Try approximately 10 units available for purchase. Just add this building the growing list of condos that are becoming close to sold-out. What are the choice units that are left? Click Here for More Photos & the Rest of the Feature

The Peachtree Residences is located in Buckhead and has expansive 270 degree wrap-around views. The list price has been reduced by $125,000 and is now offered at $850,000. If you are interested in scheduling a showing, please contact me! 404-822-4156

Blog Feature
VIRTUAL TOUR
Link to MLS Listing
Property brochure (click here)

Nothing is stopping Regent Partners from making big sales in their luxury Buckhead building. They recently closed their second penthouse – the best one in the building – unit 4802. It’s a two-story unit with a 50th floor optional pool. Penthouses with pools are a dime a dozen in cities like Miami, so this is a very special thing for Atlanta. This is also the highest sale in the building to date.

The $5,000,000 dollar sale took place last week according to the First Multiple Listing Service. The unit is slightly smaller than originally planned for. The buyers of penthouse 4801 carved out a little extra space for their unit. Even still, the approximately 8,900 square feet is space in the unit is among the largest condo spaces in Atlanta. Unit 4802 was sold as raw space and did not include any build-out allowance. The buyers have opted to do that on their own, with some help of course! Any guesses on the build-out number? Id love to hear your thoughts!

Did you know there hasn’t been one sale in the building under $1,100,000? You are probably thinking they don’t have any units priced under a million. Surprise, they have condos starting at $799,000 (with about 1,563 square feet of interior space and a huge 439 square terrace).

Sovereign has closed over $50,000,000 in sales since opening in 2008. In comparison, 10 Terminus Place recently sold out and closed over $67,000,000 in sales.

Can’t get enough of Sovereign? Click here for blog features, click here for building information and here for sales information.

I took this yesterday from my penthouse rental at the Mayfair Renaissance. It was a stellar day!

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 Atlantic Residences is located in Midtown at Atlantic Station and the condos have some of the best views in Atlanta, especially on the upper levels of the building facing downtown. The two-story penthouse unit I toured had some really great features, like the double height windows and ceiling and a spectacular master bathroom. Pictured above, penthouse 4601 has a large square terrace with glass railings. Regarding the terraces in the tower, every other floor in the building has a solid wall railing, so if you want to see clear through to the view from inside your unit, pick a floor with the glass railing. The upper floors have larger terraces.

This particular penthouse happens to be under contract, with a list price of $1,170,000 $1,300,000 (sales team informed me the list price is actually $1.3 on 5/9). It has two-bedrooms, 2.5 baths, two large terraces and approximately 3,133 square feet of space. Click Here for More Photos & the Rest of the Feature