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.

Watershed restaurant, an award-winning Southern-inspired eatery that pioneered the Decatur dining scene when it hung its shingle on a converted gas station 13 years ago, is re-locating to The Brookwood, a 219-unit, mixed-use condominium community located on Peachtree Street in the heart of the historic Brookwood neighborhood. The move will empower owners Ross Jones, Indigo Girls’ Emily Saliers and Chef Joe Truex to realize their dream of growing the business with private dining, a patio and a wealth of parking.

They plan to maintain the integrity of the Watershed brand, including the inspired cuisine of acclaimed Chef Truex, while updating it with a modern sensibility reflective of the new location. Diners can expect to see General Manager Jones on the floor and Chef Truex in the kitchen of this Smith Hanes-designed 175-seat jewel. If you look at the photos above, the restaurant will be located on the right corner of the building. Click Here for More Photos & the Rest of the Feature

The Brookwood finally opened this past weekend, but only time will tell if the attractive pricing will be enough to entice buyers enough to make the plunge. I think it will! The prices are even lower now than when they closed their doors before the foreclosure. The lowest priced two-bedroom, 2.5 bath condo was $240,000 (approximately 1189 square feet) and the lowest priced three-bedroom condo was $348,900 (approximately 1708 square feet). Both of these were on the lower floors, but even at those prices the condos are aggressively priced. Judging by my ability to get client appointments, the sales office is slammed. Please call me to set up your appointment, otherwise you will be waiting in the lobby. In the meantime, click the links below to get a ton of information on The Brookwood.

Model Home Tours - The Brookwood Keeps Green In Your Pocket

Exterior Building & Lobby Photos – It’s Easy Being Green At The Brookwood

Grand Lawn, Pool, Clubroom Photos -  It’s Easy Being Green At The Brookwood 2

View Available Properties Listed in the MLS Below

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.

Read more about The Atlantic | Read more about The Brookwood

Unlike any other condo building in Atlanta, The Brookwood knocks it out of the park with an amenities are made for relaxation, interaction and entertaining. From the street level, you would have no idea there is a lap pool, large club house (with a gym, billiards room, media room, outdoor fireplace, catering kitchen, gym, yoga) and an inviting lawn space. It was such an amazing day when I went to photograph. I really wanted to just sit down on one of the many benches and relax for a while, taking in the sunshine and views. Click Here for More Photos & the Rest of the Feature

I knew The Brookwood was going to be a really special property when I had my first site visit. There is so much to love about the project and I hope you will enjoy it as much as I do. The building is set at the edge of a historic neighborhood (called Brookwood) and this ideal location makes for convenient walks through tree-lined streets, taking in old Atlanta. Living at Peachtree & 28th has it’s advantages. You are minutes away from Midtown’s great restaurants, nightlife, shopping, museums, galleries and so much more.   Click Here for More Photos & the Rest of the Feature

Opening in May, The Brookwood is a mixed-use condominium community in the heart of the residential Brookwood neighborhood, one block south of Piedmont Hospital in South Buckhead. Featuring 219 two- and three-bedroom homes and 20,000 square feet of street-level restaurant and retail space, The Brookwood offers residents a walkable, environmentally-friendly lifestyle just minutes from Atlanta’s business and cultural centers.  Click Here for More Photos & the Rest of the Feature