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Atlanta Condos For Sale

Why Is Midtown Atlanta Inventory So Low?

April 7, 2015 by Thom Abbott

Why Is Midtown Atlanta housing inventory low April 7, 2015This is a question/challenge I face daily when working with Buyers that are looking to purchase a Midtown Atlanta condo. After viewing properties in an afternoon, the question often comes up, “Is that all we are going to see?” My reply is often, “That is all there IS to see!”

Why Is Midtown Atlanta Inventory So Low?

I’ve attached a link below to an article that recently appeared on the website Inman News which is real estate news for real estate agents. Always good stuff and very informative. However, as I am sure you have heard, real estate is local, local, local. So while this article gives you that 30,000 foot view of the market and conditions nationwide, I wanted to touch two points that relate to Midtown Atlanta…

Value Disruption/Reset in 08/09

As the article states, between 2007 and 2010, we saw a major change in values in Midtown Atlanta. Condos that originally sold for $350,000 were selling in foreclosure for $190,000!  Prices have returned to the higher values, so those that purchased at the high price, may now finally be able to sell their condo and not be “under water” in terms of the value. Those that snapped up at that $190,000 certainly are ready to move, but….

SQ5 Under Construction April 7, 2015Where Would I Go? (Move Up) and Stunted New Development

A quick glance at the Midtown skyline gives one the impression of “Wow, look at all those new condo buildings going up!” Ahhhh…not so fast. All those cranes you see are producing a bumper (maybe even an excess) crop of rental apartments, NOT condominiums For Sale! For the Midtown Atlanta condo buyer, a primary reason for a move, is to move into the latest and greatest new building. But what do you do, or where do you move, when you don’t have ANY new buildings?

Current Midtown Atlanta condo construction is limited to a couple buildings and townhome developments and those prices start in the $700,000 range. That might be a bit more of a “move up” than many buyers can afford.

So, when we are out looking at Midtown Atlanta condos for you to purchase, it’s not me giving you any kind of “salesperson pressure” to make a decision. It’s the market telling you, make that offer now, or it may be gone while you think about it.

Here is a link to Why Is Housing Inventory So Low?

Filed Under: Buyers, Condominiums of Midtown, Interesting Stories, Real Estate Tips, Sellers Tagged With: Intown Atlanta Real Estate Buyers Guide, Midtown Atlanta Condominiums, Midtown Atlanta Market Reports, midtown atlanta real estate

Atlanta Condos For Sale |Lizzie Chapel Flats Inman Park

February 17, 2015 by Thom Abbott

Atlanta Condos Lizzie Chapel FlatsUpdate – April 2019 —

Lizzie Chapel Flats sold all homes (6 of them) at prices ranging from $629,900 to $749,900. Unit 201, which originally sold for the $749,900 price was on the market in 2018 for $840,000 but there were no takers, and the home was taken off the market.  Considering they were to originally spend around $935,000 to create the new units, there was a nice return on the investment! 

 

Looks like another small, but unique condo option will be appearing on the Atlanta condo market in the near future!

What Now Atlanta reported that plans have been filed for the Lizzie Chapel Baptist Church in Inman Park.

Atlanta Condos For Sale |Lizzie Chapel Flats Inman Park

Karios Development will convert the historic church into 6 individual condominiums. “Located in one of intown Atlanta’s most popular neighborhoods, Lizzie Chapel Flats is a restoration and renovation project converting an historic church into six distinctive condominiums,” according to Kairos’ website.

The story reports that some $935,000 will be spent to build out the 6 homes, at roughly 2500 square feet each.

There is a web site for the development -minus any information about the development at LizzieChapelFlats.com

The location will be an awesome one…easy walking distance to the newly opened Krog Street Market as well as the Atlanta Beltline.

Where Are Lizzie Chapel Lofts

Filed Under: Blog, Condominiums of Midtown Tagged With: Atlanta Condominiums, Condominiums, Intown Atlanta Real Estate, Midtown Atlanta Condominiums

1065 Midtown Atlanta Apartments to Convert to Condos

February 14, 2015 by Thom Abbott

1065 Midtown Condominiums1065 Midtown Atlanta Apartments

to Convert to Condos

1065 Midtown Atlanta, aptly named because its address is 1065 Peachtree Street and sits atop the Loews’ Midtown Atlanta Hotel, are going condo!

The condominiums were turned rental when the market went South. Now that prices are rebounding, the current owner of the apartments, TriBridge Residential are going to put the homes up For Sale. It’s reported prices will start in the $600,000 range and head up to $1M plus.

In an article in the Atlanta Business Chronicle, Douglas Sams’ article has an interesting statement:

TriBridge’s move will also be closely watched. Multifamily analysts are waiting to see whether renters will start to buy condos again now that the economy has improved and banks have started to loosen their lending requirements.

Now yes, there are some pretty high rents in Midtown Atlanta. You can easily shell out $3000 a month for a 2-bedroom. But will those renters have down payments ready? And keep in mind, a renter does not pay the monthly HOA fees, or property taxes. Their landlord does that. I think there are good many renters that will be priced out of a building like 1065 Midtown Atlanta, but on the other hand, there ARE buyers out there looking for the next new shiny condominium to move to….and this just could be it!

We will be touring the building in the coming weeks and will have a new community page built for MyMidtownMojo.com after that!

 

Filed Under: Blog, Buyers, Condominiums of Midtown Tagged With: Atlanta Condominiums, Midtown Atlanta Condominiums, midtown atlanta condos for sale

Water Tower Stacks Atlanta Announces Pre-Sale Opportunities

February 5, 2015 by Thom Abbott

The Water Tower Stacks is one of a limited number of new construction projects in and around Midtown Atlanta for the condo/townhome buyer looking for NEW construction. The community is located in the Old Fourth Ward area, which is South of Midtown proper.

 Water Tower Stacks Atlanta Announces Pre-Sale Opportunities

Water Tower Stacks Old Fourth WardThe Water Tower Stacks Atlanta are located at the intersection of Irwin and Auburn Streets. What an awesome location….steps to the new Krog Street Market and the Eastside Trail of the Atlanta Beltline. Follow the Beltline trail by walking or biking and you’ll next hit Inman Park with more dining and shopping choices, then the Old Fourth Ward park and the exciting Ponce City Market! I mean, this location has urban written all over it! Head in the other direction towards the King Memorial and you’ll have access to the new Atlanta Street Car to take you to Downtown, World of Coke, The Aquarium, Phillips Arena and the new Atlanta Falcons Stadium! Wow!

This intimate community of just 10 townhomes features base prices starting at $575,000 and going up to $675,000 for the largest home, Unit 1. Various upgrade choices are available. According to the developer’s website, if you selected every upgrade offered on Unit 1 (including a 4-story elevator) you would top out at $746,575. Additional options include upgraded Viking appliances, wet bar with sink and refrigerator, first level bedroom and bath and and retractable glass wall on the 4th floor terrace.. just to name a few.

Water Tower Stacks Old Fourth Ward Site Plan

Krog Street Market MyMidtownMojo.com The Water Tower Stacks Atlanta development is located across the street from The Stacks, another mixed-used development. There is so much happening in this area with the Ponce City Market and Krog Street Market that you will have lots of things to do..and some great places to dine…if you don’t want to mess up the gorgeous kitchen!

Currently the development is in VIP Pre-Sales process. MyMidtownMojo.com is on the VIP list and we’d be happy to represent you as a Buyer and make a home reservation on one of these select homes. A “Call For Offers” deadline has been set for Monday, February 16, 2015 at 5pm. Once those offers are reviewed and either accepted or declined, the remaining inventory will be released for general sales the end of February.

Contact me TODAY and let’s get you into this unique, convenient Intown Atlanta community!

 

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Filed Under: Blog, Condominiums of Midtown

Will Seventh Midtown Block My View at Viewpoint Midtown?

January 27, 2015 by Thom Abbott

As a real estate broker that specializes in Midtown Atlanta real estate, a question that comes up more often than not is, “Will my view stay like this?” And this question comes when we are looking out the windows, or better yet, standing on the balcony. When a construction crane is in sight…..all the more!

Will Seventh Midtown Block My View at Viewpoint Midtown?

The Midtown fixture and central meeting spot, Starbucks at 7th Street has seen the bulldozer as construction begins on the new condo building, Seventh Midtown. And potential buyers at next door Viewpoint Midtown are asking, “Will Seventh Midtown Block my view at Viewpoint Midtown?

The good answer is….NO!

Seventh Midtown Building Location

This photo obviously still shows the Starbucks building, but my shaky hand has drawn a square approximately where the Seventh Midtown building will be located. As you can see, it is to be 10 stories and should not rise above the 11th Floor Zen Garden at Viewpoint.

If you are looking to purchase a condo in Viewpoint Midtown, the unit numbers that face North would end in 02,04.06,08,10,12 and 14. So if you were looking at 1104, first off you would have a limited view anyways, as you are right on the Zen Garden level. But you would not see the top of Seventh Midtown. Additionally, if you went up to say 1710, you would look down, and see the rooftop of the new building, but it would not impact your view.

I always tell my clients that you can never guarantee your view, but with my knowledge of the market in Midtown, I have a pretty good idea of what is going where, or what could go in a particular location. That information can help you make a more informed buying decision.

Looking for a Midtown Atlanta condo? I’d be happy to help!

If you answered No to this question, Please click on the Preferred Vendor list Above once you have completed this form. There you will find contact information and links to our recommended Mortgage Lenders.
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Filed Under: Blog, Buyers, Condominiums of Midtown Tagged With: Intown Atlanta Real Estate, Midtown Atlanta Condominiums, Seventh Midtown, Viewpoint Midtown Atlanta

Midtown Atlanta Condominiums | Aqua Midtown

December 28, 2014 by Thom Abbott

Luxury Midtown Atlanta Condominiums Aqua Midtown AtlantaAqua Midtown Atlanta arrived on the Midtown Atlanta Condo landscape in the height of the market in 2007. It was certainly marketed as, and is a different living option in Midtown Atlanta. The most notable feature of this building is the semi-private elevator to each and every residence! The elevator doors open from either side, but directly to the “foyer” of YOUR home. No hallway. No walking past neighbors in the hallway. The only opportunity whereby you might “bump” into someone is on the elevator if it stopped on another floor. In all the times I’ve been in the building, I think someone got on the elevator once.

Developer Scott L. Leventhal described why he and Tivoli Properties choose Midtown Atlanta. “We chose Midtown because it’s the only part of Atlanta that closely resembles Manhattan – in terms of its cosmopolitan flavor. Access to transportation, and the quality of its venues, restaurants, and retail establishments. And, clearly, Midtown is the center for business and commerce in the city. It’s become the true crossroads of Atlanta.” Well said Scott.

Aqua Midtown AtlantaYou arrive at  Aqua Midtown Atlanta and the distinctive design of the building is captured in the lobby with the massive water feature and one-of-a-kind barnacle sculpture by world famous Jennifer Prichard. It’s clean and simple. Besides private, keyed elevator access,  Aqua Midtown Atlanta offers exceptional amenities:

  • 24 Hour Concierge
  • Secured Parking and Guest Parking
  • State-of-the-Art Fitness Center
  • Club room with catering kitchen and bar
  • Resident Guest Suite

Aqua Midtown Atlanta’s target buyer was the “sell the big home the kids are gone and move to the city but we still want a huge space.”  As a result, the floor plans are the largest of any Midtown Atlanta Condominium. It’s convenient location offers grocery shopping next door at the Publix Urban Market; restaurants like Marlow’s Tavern or Steamhouse Lounge are just a block away! If your plans call for travel, and you don’t have car service to the airport or want to pay for parking, the Midtown MARTA station is just across the street!

Aqua Midtown Atlanta KitchenAqua Midtown Atlanta Floor Plans

  • Azure                 1 Bedroom — 1,142 sq ft
  • Indigo               2 Bedroom — 1,463 sq ft
  • Emerald           2 Bedroom — 1558 sq ft
  • Sapphire          2 Bedroom — 1955 sq ft (including separate Study)
  • Aquamarine  3 Bedroom — 3,005 sq ft

The Aquamarine was the first 3 bedroom condominium home available in Midtown Atlanta that was not a combination of units. It was designed this way. Here is the amazing floor plan….

The Aquamarine 3 Bedroom
The Aquamarine 3 Bedroom

Aqua Midtown Atlanta Interior Amenities

  • Private Elevator                                                8′ Solid Panel Entry Door
  • Viking Designer Series Appliances              Granite Counters and Recessed Kitchen Lighting
  • Floor to Ceiling Windows                              7′ Interior Doors
  • KOHLER Sok Tub                                           KOHLER double WaterTile Body Sprayer
  • Oversized jetted tubs                                      Limestone tiled floors
  • Private Service Entrance                                Side-by-Side Washer/Dryer Connections

Aqua Midtown Atlanta. Delicate curves and sweeping lines. A work of art that you can live in. It’s also interesting to note there are NO homes For Sale in the building as of this writing!

Filed Under: Blog, Condominiums of Midtown Tagged With: Atlanta Condominiums, Intown Atlanta Real Estate, Midtown Atlanta Condominiums, Midtown Culture

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Thom Abbott

Associate Broker, REALTOR(R)
905 Juniper Street, NE Suite 110
Atlanta, Georgia 30309
770.713.1505 Direct
404.876.4901 Office

 
 
 
 
 
 
 
 
 
 

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