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Atlanta Condos For Sale

Miami’s Crescent Heights to buy unsold Atlantic Residences condos

January 21, 2012 by Thom Abbott

Atlantic Condos Sold to bulk BuyerVia Scoop.it – Midtown Atlanta Condos

An affiliate of a Miami real estate company has reached an agreement to purchase the remaining unsold condos in Midtown’s 401-unit The Atlantic Residences, according to sources familiar with the transaction.

An affiliate of Crescent Heights is the buyer, according to sources. The company could not comment, said Roman Speron, operations manager at Crescent Heights. The company is known for intown Atlanta projects, including the 34-story Mayfair Renaissance.

It’s unclear whether it will keep The Atlantic units as condos or convert them to rentals. The 47-story building rises over Atlantic Station and is one of the most visible towers on the Midtown skyline.

WOW…..if they all become apartments…..imagine the 73 owners and what they will be able to do, (or NOT) with their condo.

On the flip side of this….this will take a HUGE chunk of inventory out of the market if in fact they convert them to rentals. For Sellers, less competition. For Buyers…less to choose from? What will the outcome be for the market?
Via www.bizjournals.com

Filed Under: Blog, Condominiums of Midtown Tagged With: Atlanta Condominiums, Atlantic Station, Atlantic Station Condominiums, Midtown Atlanta Condominiums, midtown atlanta real estate

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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