I am happy to report the largest penthouse available at the nearly sold-out Terminus project in Buckhead closed yesterday at a price of $1,700,000. This represents a considerable discount of nearly 53% off the the very original list price when the building first opened of $3,600,000. Most recently, Cousins reduced the price to $2,592,000 when the market started to go South. This is the highest priced sale in the building.

The reality of the situation is the seller was smart enough to know they have to adjust their prices in order to move the inventory. They now have just one penthouse left in the entire building to sell and it is under contract. I have heard from a few people who live in the building the new owner is a new player on the Atlanta Braves team. He obviously has very good taste! I’m wondering what he going to do with the enormous terrace. Thoughts?

The big news of the weekend comes from Sovereign, where the remaining two-story penthouse was reduced from $9,520,000 to $7,495,000. Now that may not sound like much considering the other penthouse sold for $4,200,000, but it shows Regent Partners is pushing hard to move the remaining inventory, including it’s most coveted unit. The MLS now has about 18 of Sovereigns units listed.

Since opening in late 2008, Sovereign has sold just 18 of its 82 luxury condos, totaling over $36,000,000 in sales. Last year, I showed you a Barbara Westbrook model home on the 43rd floor. It’s now under contract with a list price of $2,200,000.

Check out the remaining Sovereign penthouse here.

Once in a while, a special property comes on the market. One that doesn’t need any work, has spectacular views, beautiful finishes, great space and layout and all in a terrific location. This stunning penthouse is located at The Peachtree Residences in Buckhead.

You probably have seen this penthouse on the market last year, and if so, you need to take a second look. A lot has changed since then. I looked at this place a few years ago and always knew it had the potential to be something special. The owner recently renovated the space and really made some great necessary changes. First, they completely gutted the old kitchen, re-oriented the island and removed the doors to the space. This not only opened up the room and made the space flow better, but it allowed you to enter the foyer and see directly out to the Buckhead skyline. The dining room also had some significant changes. A doorway was added leading to the bedrooms and a 300 bottle wine closet was installed. In the foyer, a wall was removed to open the space to the dining room. A virtual tour link is located at the bottom of this post. Click Here for More Photos & the Rest of the Feature

Their loss is your gain. The buyer who was under contract to purchase this amazing penthouse is not going to purchase after all. That means you still have one opportunity to purchase the only single-floor residence in the building. 10 Terminus Place is nearly SOLD-OUT and the developer only has a few units remaining.

If you are interested in purchasing this penthouse, please contact me immediately to schedule a showing. It will not last long.

Click Here for More Photos & the Rest of the Feature

I’m so excited to show you this beautiful two-story penthouse at Mayfair Renaissance, which is available for lease right now! You can’t beat this location! Walk to everything in Midtown, including the W Hotel, the Four Seasons, 12th & Midtown restaurants/shops, spas and nightlife. Piedmont Park is literally steps away. Click Here for More Photos & the Rest of the Feature

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