Atlanta Condos For Sale

Midtown Atlanta Market Report | Luxe Midtown | January 2013

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Luxe Midtown Atlanta had the second lowest inventory in January, 2013 with just ONE home Listed For Sale.

Located just 1/2 block from Piedmont Park, this building is a smaller condominium community with just 116 homes in the building. It is close to the park-side restaurants on Piedmont Avenue, and the restaurant corner of 10th and Piedmont.

Midtown Atlanta Market Report | Luxe Midtown | January 2013

 

Midtown Atlanta Market Reports Luxe Midtown Atlanta

 

There is one 2- Bedroom home listed at $649,000, one home Under Contract at $509,000 and no sales in January, 2013. This compares to just one 2-bedroom home that was sold in January, 2012 for $637,000.

Midtown Alliance Receives LCI Grant for Transit Station Designs

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Midtown Alliance Receives LCI Grant for Transit Station Designs

LCI Grant Awarded to Midtown Alliance for Transit Station enhancementsThe Midtown Alliance has received a Living Centers Initiative (LCI) Grant to study and design potential enhancements around transit stations. According to the LCI website from the Atlanta Regional Commission:

The Livable Centers Initiative (LCI) is a program that awards planning grants on a competitive basis to local governments and nonprofit organizations to prepare plans for the enhancement of existing centers and corridors consistent with regional development policies.

In a seminar a couple years ago, I heard from a major urban planner (his name escapes me at the moment) about how Atlanta’s transit system stations lacked the vitality that many cities have. In other words, they were a train station and nothing else. Quite true when you think about a MARTA station. There is no interaction at the station level, of which all of them are underground. But if you go to other major cities, they have small shops, retail, etc. around the stations.

I suspect this plan will involve street-level enhancements of some kind.

Midtown Atlanta is home to THREE of the MARTA stops leaving Downtown. North Avenue, Midtown (10th Street) and the Arts Center Station (16th Street).

It will be interesting to see what comes out of this study and what changes will be made in Midtown Atlanta.

12th & Midtown Adds To It’s Master Plan

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After what the real estate market did around the country, and in Atlanta, news of expansion is always a good thing. And when that Atlanta news is in Midtown Atlanta, I say all the better, right?

It would appear that 12th & Midtown developers Daniel Corp. and Selig Enterprises Inc. are assembling land to expand their 12th & Midtown project with more retail and apartments. In the past few months it would seem that the Midtown Duo has placed some other choice morsels of Midtown land in their shopping bag. It made me think, What could they have picked up? The Atlanta Business Chronicle article mentions a FIVE block area around the existing 12th & Midtown location.

Midtown Atlanta Development at 12th and Midtown

 

12th & Midtown Adds To It’s Master Plan

The map above indicates some options. (I stand corrected if I’m wrong….) The red circles are the property that 12th & Midtown already has. 1010 Midtown Atlanta, the high-rise condominium building is on the corner of 11th and Peachtree (left side looking at the Map.) The Loews’ Midtown Hotel is on the right hand corner. The check mark indicates the site of the new 77 12th luxury apartment building. The purple circles indicate SOME (not all)of available vacant land in the immediate area. And with the Selig holdings, there may be parts of this area they already own.

Plaza Midtown Atlanta Condos For SaleDaniel and Selig, who also partnered to build Plaza Midtown Condominiums at West Peachtree and 8th, say their new contracts for the expansion of 12th & Midtown validates its long term vision since they launched the $1.1 billion, 2.5 million-square-foot project at the height of the market in 2006. “I think we’re helping change the face of Midtown and, by that, the face of Atlanta,” said Selig Enterprises President Steve Selig in the ABC article.

It’s backed by capital partners including Canyon-Johnson Urban Fund L.P. and MetLife Real Estate Investments.

77 12th Street, a 23-story apartment building will be complete this May. (Above map notes the location of the new SkyHouse Apartments, built and just opened by Midtown’s condo builder, Jim Borders and Novare.

As the project moves forward, retail is a major focus of the group. And for those residents in Midtown Atlanta, we know it would be nice to have some shopping. Unfortunately, I think rental rates keep the little guys out, and hence you see stores like CB2, and high end restaurants like STK. Also, some retailers either don’t see the traffic, have stores in other locations they feel residents will travel to (a.k.a. get in your car) or, their retail model does not fit in the space. I’ve often wondered, could not a GAP, Jr work in Midtown Atlanta? Not a full size store, but where limited items could be carried and perhaps a on-line order feature for items not in the store? Hmmmmm….

Another ABC article quotes Shirley Gouffon, Senior VP of Selig. The current land deals will give 12th & Midtown the ability to add some 200,000 sq. ft. of retail space! (In comparison, the current foot print of the development has about 130,000 sq. ft.)

“It will be significant,” said Gouffon, who heads retail leasing for 12th & Midtown. “I’m very optimistic about the future. It’s not happening overnight. But, it is happening.” Some of the new space will be in future development of the vacant block just north of the Loews’ Hotel. (This is the vacant block in front of Park Central Condominiums, and where the current Food Truck Thursday’s happens.)

“What we would do is enhance what is already there and successful,” Gouffon said. “It’s truly a thriving dining destination to date. We think that we have the opportunity to enhance that and expand upon it with other uses.”

There is certainly an increased density of people in Midtown Atlanta since 1997, when the first construction and conversions started. Retail follows rooftops, and with the new apartment buildings under construction (THREE, including SkyHouse, 77 12th and 100 6th Street) we are certainly getting more! But, much of the talk of the retailers always leads to high end fashion retailers. Peachtree Street had My, My, My and Drew Lewis who have both since closed up shop. I often wonder how many of the residents in the high-rise condominium buildings and apartments will be out buying $300 sweaters or $100 dress shirts?

And there is the challenge of other locations where retail is being developed, adding to the competition. West Midtown has seen several new stores open, and the future Ponce City Market, being developed on the south edge of Midtown are sure to turn up the retail heat for tenants.

“All of the tenants that have opened to date at 12th & Midtown are doing very well,” she said. “It’s become a great story for us as we market to other retailers.” Let’s just hope its more retail and not more restaurants and stores Midtowner’s can, and want to shop in.

NOTE: A big shout out to Amy Wenk with the Atlanta Business Chronicle for TWO stories on the 12th & Midtown development. Readers may remember Amy as the former editor of Midtown Patch. Thanks Amy!

Top Ten Selling Midtown Atlanta Condo Buildings for 2012

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In Midtown Atlanta, the variety of condominium buildings range for the 36-story high-rise glass towers to the home that was converted into 4 condo units in Historic Midtown.  Midtown Atlanta offers something for almost everyone when it comes to condominium living. From the aforementioned high-rises to a mid-rise (usually 6 stories or less) we do have a variety.

Midtown Atlanta Top 10 Selling Buildings 2012Square footage in condos varies greatly depending on the building. Midtown Atlanta’s location makes it one of the most popular urban living areas in all of Atlanta. It ranks as one of the most walkable neighborhoods on the popular site, Walk Score. One can easily park their car on Friday afternoon and not need it again until the Monday morning commute to work. MARTA makes other parts of the city accessible, such as Downtown to attend a Falcon’s football game at the Georgia Dome, or easy access to the world’s busiest airport, Hartsfield-Jackson Atlanta International Airport (a mouth full!) Passion for the Arts? You’ll feel right at home in Midtown Atlanta with the High Museum, Woodruff Arts Center and the Fox Theater, just to name a few.

If you already live in Midtown Atlanta, you know the joys and benefits of living here, and your reasons are probably the same as any newcomer looking at the area! In you are a condominium buyer, that is what we specialize in, and can help you find the right Midtown Atlanta building for your life style.

And now, we proudly present….

Top Ten Selling Midtown Atlanta Condo Buildings for 2012

 

10. (Tie) White Provisions (Midtown West) and Mayfair Renaissance/Tower (14th Street)

  • White Provisions had 17 homes sold with an Average List Price of $312,312 and an Average Sales Price of $291,676. There were 16 2 bedroom homes and one 1-bedroom home sold. In 2011, the building had just 4 Sales (according to FMLS) at $253,400/237,500.
  • Mayfair Renaissance and Tower also had 17 homes sold with an Average List Price of $206,571 and an Average Sales Price of $190,091. There were 11 2-bedroom homes and 6 1-bedroom homes sold. In 2011, the building had 20 homes sold at $159,893/143,144.

9. Tuscany Condominiums (Juniper Street)

  • Tuscany had 18 homes sold with an Average List Price of $156,667 and an Average Sales Price of $142,514. There were six 2-bedrooms homes sold and 12 1-bedroom homes sold. In 2011, the building had 8 sales at $153,213/127,350.

8. Cornerstone Village (Peachtree & 5th Street)

  • Cornerstone Village had 19 homes sold with an Average List Price of $121,784 and an Average Sales Price of $108,561. There were six 2-bedroom homes and 13 1-bedroom homes sold. In 2011, the building had 26 sales at $106,896/92,941.

7. Peachtree Lofts (Peachtree & 7th Street)

  • Peachtree Lofts had 20 homes sold with an Average List Price of $153,301 and an Average Sales Price of $142,657. There were three 2-bedroom homes sold and 17 1-bedroom homes sold. In 2011, the building had 15 sales at $116,660/109,975.

6. Plaza Midtown Atlanta (West Peachtree Street & Peachtree Place)

  • Plaza Midtown Atlanta had 23 homes sold with an Average List Price of $210,696 and an Average Sales Price of $196,024. There were 12 2-bedroom homes sold and 11 1-bedroom homes sold. In 2011, the building had 41 sales at $214,386/191,867. (Note: this is one of a couple buildings that did see a decrease in the average Sales Price in 2012.)

5. Park Central (Juniper & 13th Street)

  • Park Central had 29 homes sold with an Average List Price of $167,069 and an Average Sales Price of $156,395. There were 15 2-bedroom homes sold and 14 1-bedroom homes sold. In 2011, the building had 13 sales at $153,169/139,673

4. Spire Midtown Atlanta (Peachtree & 7th Street)

  • Spire Midtown Atlanta had 30 homes sold with an Average List Price of $200,265 and an Average Sales Price of $188,412. There were nine 2-bedroom homes sold and 21 1-bedroom homes sold. In 2011, the building had 27 sales at $201,915/189,431

3. Viewpoint Midtown Atlanta (Peachtree & 7th Street)

  • Viewpoint Midtown Atlanta had 32 homes sold with an Average List Price of $274,509 and an Average Sales Price of $255,900. There were 23 2-bedroom homes sold and 9 1-bedroom homes sold. In 2011, the building had 25 sales at $235,026/215,889.

2. Metropolis Midtown Atlanta (Peachtree & 8th Street)

  • Metropolis Midtown Atlanta had 37 homes sold with an Average List Price of $211,646 and an Average Sales Price of $197,555. There were 12 2-bedroom homes sold and 25 1-bedroom homes sold. In 2011, the building had 24 sales at $202,000/180,210.

And for 2012, The Top Selling Midtown Atlanta Condo Building is…..

1010 Midtown Atlanta

 

1. 1010 Midtown Atlanta (Peachtree & 11th Street)

  • 1010 Midtown Atlanta had 46 homes sold with an Average List Price of $346,257 and an Average Sales Price of $328,498. There were 31 2-bedroom homes sold and 15 1-bedroom homes sold. In 2011, the building had 27 sales at $339,707/314,095. (Note: Since this building is still being sold by the developer, these numbers only reflect the actual homes listed in FMLS. There could of been other sales of homes that were not yet listed in FMLS.)

 

 

If you did not find the Midtown Atlanta condo building YOU live in, or are interested in, we will have market reports posted for those buildings in the coming days, and you will find them on our Midtown Atlanta Market Reports page. 

If you have any questions about this report, Midtown Atlanta condo buildings, or other Intown Atlanta Real Estate communities, please call me at 770.713.1505 or email me at Info@MyMidtownMojo.com

Will Atlanta Drown in Wave of New Apartments?

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See on Scoop.it – Midtown Atlanta Conversations and Condos

Trying to tabulate the number of intown apartment developments currently planned, under construction or recently opened is a fool’s errand. There’s that many, from the core of Buckhead to…

 

Thom Abbott‘s insight:

Indeed! For those investors or absentee landlords, this could become an issue with so many choices for renters. The real question is will thes buildings be able to hold their own and hold their rental rates. If they start to drop them, condo owners will be forced to lower rents to compete as well. And remember, a condo owner has a mortgage payment to make and does not have the financial resources a developer may have to make monthly payments.

See on atlanta.curbed.com

77 12th Street
77 12th Street Apartments as they started Construction last year

Facebook – The Things That Connect Us

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It’s the last weekend of 2012! I think I just sort of realized that!

I was out of town this past week, visiting my partner’s parents in Tampa! We had a great time, and they came back to Atlanta with us to spend the New Year here. (I mean New Year’s Eve..not the ENTIRE New Year!)

So I’m not really on track today with blogs about buying or selling real estate. I’ve skipped yet another month of Market Reports for the condominiums in Midtown Atlanta. I’m just surfing before I head out for an early cocktail with a good friend. (Well, and escape the arrival of more relatives…..!)

Facebook – The Things That Connect Us

I found a video about Facebook – The Things That Connect Us. And it made me think. That’s what I do as a real estate agent. I connect people. Those that want to buy and those that want to sell.

Let Facebook connect you with people you know, or what to know. In fact, connect with ME on Facebook, if you like! You can find my Personal Page and my Business/Fan Page.

And who knows, maybe I can connect you with your next Midtown Atlanta Condominium…whether you are looking for the Buyer, or the Seller.

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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