Thoughts on buying at 1010 Midtown Condos (Atlanta: HOA fees, house, bankruptcy)

[Julie34]

Looking into buying Condo at 1010 Midtown.
Would like all your thoughts on:
1. Prices on Condos Now.
2. Do you think prices will go down or hold value?
3. Amenities
4. Location in Midtown? close to restauants etc.
5. Do you live there or know anyone that lives there and what they think?
6. Do you think they are the nicest condos in Midtown?

Appreciate all information you can give me.

Thank you so much!

[midtown mile girl]

The location is great, I live up the street and I love the area.
Things to consider:
hoa fees, and how those fees may change when the building sells out.
Rental policy-you don't want to be in a building that allows for many renters.
As for being the best, that's up to personal needs and taste. When I looked at condos my top considerations were location and floorplan. Good luck!on this

Also on this forum there is another thread on 1010 midtown somewhere.

[koko339]

1) Pricing: prices have stayed pretty high at 1010, compared to other glass towers, which makes it seem like the developers were trying to hold out on just trying to get rid of the units. The building has been marketed as more mature and upscale than the competition. To compare, right now the cheapest 2 bedroom at Viewpoint is at $258k, and the cheapest 2 at 1010 is at $299k.
2) Stability: hard to say now, of course. An FMLS search showed reductions of $50k, $30k, $10k. It would not be difficult to imagine them continuing to tumble.
3) Amenities: nothing to out of the ordinary. If anything, they have nicer finishes, but I wasn't blown out of the water when I toured.
4) Location: Great. Central to everything. The only minus might be the club district on Crescent and the future SPI club across the street, but some may see these as plusses.
5) No
6) Are they the nicest: depends on one's taste. For a glass tower, they have interesting floorplans and architecture. But I don't know how they will age. The amenities aren't amazing, but the ground floor restaurant and shop(s) are great to have. Just make sure you get one with a good view; the ones I saw looked straight onto the building across the street, and I'm sure those are the ones that haven't sold as well.

[srnyong]

We just bought a condo in Midtown (Plaza Midtown) one year ago. We looked at most of the high rise condos including 1010 Midtown.
1010 Midtown was my husband's favorite out of all of the condos we looked at. He liked the kitchens, flooplans, etc..
1010 Midtown has been resistant and reluctant to reduce their prices to be more competitive with other condos such as Viewpoint.
We attended a "tweet up" at 1010 Midtown a few months ago and had a great time!
I think Midtown is a great area to own a condo. (Obviously since I bought a condo in Midtown)

In my opinion, here are the Pros and Cons of 1010 Midtown:

1010 Pros
Awesome views of Peachtree St. and Atlanta - especially from the corner units.
Great restaurants (good variety too) downstairs
CB2 and Bank of America downstairs too
Close to Midtown Marta station
Beautiful floorplans
Beautiful fixtures

1010 Cons (and this is just my opinion)
Too close to Crescent St. bars and clubs. Will be loud at night.
Buying from the developer can be risky. What if the developer declares bankruptcy and auctions off the rest of the units?
HOA fees can go up dramatically after the developer turns it over to the owners. This happened to me on my first house purchase.
Traffic - How hard is it to get to and from the highway?

Yes, I do think that 1010 Midtown is the nicest condo in Midtown.

Good luck with your condo shopping.

[noah]

Hard to say which is the nicest building when there are probably 50 condo buildings in midtown at all different price points. If your set on a brand new building and the risks that go with it, 1010 does look nice and the location is awesome. Its interesting how there is a large set of buyers who seem to think the latest new high rise is the best. In a few years it will be a different one. There are certainly nicer buildings but at higher prices.