When I attended the TweetUp, Steven Spivak, Director of Sales & Marketing for Loews Hotels advised us the condos on top of the hotel would most likely be corporate type rentals. Currently, Atlanta has a large number of condo rentals available, but many are unfurnished. The Loews can definitely fill a void in our market for luxury furnished rentals. They are pretty scarce if you dig deeply and try and find something worthy of a corporate executive. Read the rest of this entry
Today I attended my first TweetUp. The idea was to get a bunch of Tweeters together to explore the new Loews Hotel in Midtown. We were the first people to see the inside of the hotel, so it was quite special.
If you follow me on Twitter, you probably already read my comments as I was wandering through the hotel. If not, you can always go back and read them because there is some great information there.
Above is the Lobby. It’s a beautiful space with huge ceilings, great finishes and can accommodate a large number of people. Loews doesn’t have dedicated front desk people. Everyone on the floor can assist you with your needs. Think of it like concierge service. Ask and you shall receive… I’ll test those limits when the hotel opens. Read the rest of this entry
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
It’s been quite a year for the Atlanta condo market. We have seen some of the best product ever built on the market for the first time in years. What was once mostly poor choices for condo living in Atlanta has turned into a multitude of luxury projects in all major parts of the city. We have seen developers succumb to the crafty ways of the market and savvy buyers, offering huge incentives to close. We have seen auctions take place, which in turn set the new market. We’ve seen some major completed projects never quite get off the ground. We’ve even seen a record sale, which later never appeared in the tax records.
On the bright side, we have also seen some solid brands enter the marketplace, such as The St. Regis Residences and the Ritz-Carlton Residences. It shows us the Atlanta luxury market isn’t over, it’s just beginning.
What does this mean for 2010? It’s the year of opportunity! It’s going to be a great year and full of exciting change! Thank you for all your support!
Best Wishes for a safe and Happy New Year!
Kevin
Buyers - If you are thinking about purchasing, please CALL me. Prices have never been so low before, so take advantage of the market)
Sellers- If you are interested in selling your property, please CALL me for a complimentary consultation. I have a terrific marketing plan in place to get your place sold.
I hope you have a wonderful Christmas holiday! I’m looking forward to taking a few days off to celebrate with my family and friends.
The St. Regis Hotel & Residences has the most spectacular Christmas tree as you enter the lobby. It features 88 hand-blown glistening glass ornaments created by world-renowned Frabel Glass Art Studio. Honoring the hotel’s distinguished address at 88 West Paces Ferry Road, each ornament has been custom made for The St. Regis Atlanta by Hans Godo Frabel, longtime Atlanta resident and celebrated glass artist. Make sure you check it out!
Merry Christmas!
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