Having been on the market for a little over a month, Jane Fonda’s amazing contemporary loft already has a huge price reduction… of $2,000,000.  Originally offered at $4,500,000, the price comes down to the reality of the market. For that same $4.5, you could purchase a quarter floor at the St. Regis Residences or a sub-penthouse unit at Sovereign. Why such a huge price reduction in such a short about of time? My guess is Jane is ready to move on… and quickly. Or maybe she was testing the market waters? What ever the reason may be, it makes no difference. When you price yourself above the market, not much happens. Hopefully she’ll see some action now!

Click Here to See the Listing If you are interested in seeing the loft, a bank pre-qualification letter is needed!

Photos by Nathan Martin

After being in Atlanta for 19 years, Jane Fonda is ready to start a new chapter in her life.  She put her stunning contemporary loft on the market, offering it for sale at $4,500,000. The penthouse is actually four combined units which were purchased in the Copenhill Lofts building downtown (about six miles from my listing at Centennial Park West). It has three bedrooms, 3 baths and is about 5,000+/- square feet.

She is moving into a one-bedroom, 1.5 bath rental (asking was $5,000 per month) at the famed Sierra Towers, the star-studded West Hollywood condo building on Doheny Drive. Just to give you an idea of the location, the Four Seasons Los Angeles and Hollywood are minutes away. I’m sure the new space will not be anything like her amazing loft, but since she will be focusing on her movie career, she might not need that much space anymore. Click Here for More Photos & the Rest of the Feature

I just listed this fab 2-story penthouse located at Centennial Park West in downtown. The building sits in a prime downtown location and is within walking distance (seriously) to the Georgia Aquarium, Centennial Olympic Park, the World of Coca-Cola, and CNN Center (perfect for when you have family and friends staying with you for the weekend). The penthouse also has the best seats in the house for the 4th of July fireworks. **now reduced to $2,340,000 Click Here for More Photos & the Rest of the Feature

The Mansion on Peachtree sold yesterday at an auction to iStar Financial for $66.1 million. That’s nearly a 65% drop from the estimated $197.4 million in loans for the project. In June 2009, the duplex penthouse shell sold for $4,000,000 – nearly 61% off the original asking price. Click Here for More Photos & the Rest of the Feature

The new year is off to a bang with the December closing of Sovereign’s penthouse 4801. The 9,572 (combined interior and exterior) square foot space closed at $4,200,000 ($535 psf – based on interior square footage) This is the highest priced condo sale in the building so far, but definitely not the highest priced closed sale in Atlanta.

The unit is raw space, so the buyers have every opportunity to design their dream home, with the build-out managed by Regent Partners. The penthouse is one of two true penthouse units in the building and are the highest residences in Atlanta. The penthouse was initially offered at $7,480,000

See my original blog post on the penthouse here.

Some examples of floor plans for Penthouse A & B can be found in a previous post

Penthouse A – Unit 4801A
Floor 48
7,853 average interior square feet
1,719 average terrace square feet
$952 per square foot
Current state: raw space
Offer Price: $7,480,000

The secondary penthouse at Sovereign went under contract on October 1st and is set to close the first week or two in December. It should be interesting to see what the final sales price will be. In any case, it will be a substantial closing for the Atlanta condo market.

The single level penthouse has 7,853 square feet inside and 1,719 square feet of covered terraces, so there is a tremendous amount of space to configure. Any guesses on what it will close at? I have a number in mind, but it isn’t at $952 per square foot. However, I imagine it will be more than the Mansion’s duplex penthouse sale, which closed at $4,000,000. The Sovereign penthouse was offered at a list price of $7,480,000.

See my original blog post on the penthouse here.

Some examples of floor plans for Penthouse A & B can be found in a previous post