More Midtown High-Rise Apt's Coming! (Atlanta: appointed, sale, rental)

[mike7586]

Originally Posted by brownhornet

I dont need stats to see the obvious. Just ride down peachtree at night and look at how only a third of the units in buildings are actually lit up. Picking up sales and majority sold are two different things.

So that's how you judge whether a building is empty or not? People don't leave their lights on all night... if you would take a drive during the day around the city it's pretty obvious... you would see most patio's have furniture on them... which means they are occupied by someone.

I just think it's funny someone from Smyrna thinks they know all about condo and apartment inventory in Atlanta because the buildings they passed by on Peachtree weren't 100% lit up at night (because you know, people stay in their homes all night and leave the lights on whether they are home or not, sleeping, etc)...

Statistics prove that condo inventory is getting lower each week and there is a shortage of apartments in the city - there is demand to live in the city... I know, shocking to some people around here. If this wasn't true you wouldn't see new units being built or projects announced in this economy where it's hard enough to get a construction loan.

[cqholt]

I just think it's funny someone from Smyrna thinks they know all about condo and apartment inventory in Atlanta because the buildings they passed by on Peachtree weren't 100% lit up at night (because you know, people stay in their homes all night and leave the lights on whether they are home or not, sleeping, etc)...

Cause in the suburbs they sleep with all the outside lights on to deter those "thugs" from Atlanta breaking into their homes and raping their family.
Electricity is expensive, I'm sure they turn the lights off when not home or sleeping.

[tonygeorgia]

I guess nobody is shopping at the malls anymore because when I pass by there at night all the lights are off

[MidtownThom]

As the "guy" that writes that blog and sells those condos, I can tell you I track 14 buildings monthly, and for the June, 2012 report, the ONLY Midtown Atlanta condominium building that has more than 10 homes For Sale is 1010 Midtown. Mayfair Tower/Renaissance have only 4 homes for sale between two buildings!! So, yes, bidding wars are happening. And if priced right, homes will sell in hours, not days. I too, and not saying we need more condo construction. I think we have yet to see the end of the foreclosure wave, and short sales will prevail as condo owners need to sell, but are underwater on their mortgage vs. the market value of their home.

[cqholt]

The number of apartment buildings being built or planned for Midtown this year are surprising.

[belleislerunner]

RE: MidtownThom

I have a full time job (not real estate related) but just out of curiosity a quick google search found over 110+ for sale condos in Midtown alone that were just units that had 10 or more for sale in a building. (As of today, July 24) There are hundreds more in midtown in the 1-9/building listing.

Might want to update the blog you have to be more accurate.

1) White Provision Condos = 14 units (1100 Howell Mill Road)
2) Viewpoint Condos = 14 Units (835 Peachtree)
3) Tuscany Condos = 10 Units (955 Juniper)
4) Trilogy = 11 units (860 Peachtree)
5) City Heights = 11 units (375 Ralph McGill)
6) The Brookwood = 10 units (1820 Peachtree)
7) 1280 West = 12 units (1280 W Peachtree)
8) 1010 Midown = 29 units (1080 Peachtree)


Source: Atlanta High Rise Condos For Sale or Rent or For Lease in Midtown Atlanta and Buckkhead condos, Midtown Atlanta GA condominiums for sale rent or for lease as rentals or foreclosures real estate and high rise luxury apartments and homes (Using the Midtown listings on the website)

[Atlwarrior]

Yeah but 23 stories is not really nothing that exciting, I was wondering since Novare has one 23 story tower under construction, with their recent announcemento of another 23 story tower, did not just combine the for one single 46 story tower.

[gt6974a]

Curious, what's the average square foot price and condo fee's going for right now?

[Mishap]

^You can poll the recently sold list for each building on Zillow for a price/sf. It varies by building and running a 12 mon sales mine is in the ~230 range but other buildings can be much lower. Condo fees are set annually and it really depends on what amenities are in the building to figure out total cost.

[MidtownThom]

I've always seemed to get in trouble with moderators on this site when I post. But I did respond to the comments here.