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Old 04-02-2014, 04:10 PM
 
9 posts, read 7,378 times
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I walked through that unit when the building first opened (before being decorated) and it was a pretty amazing space. The upper outdoor area was huge (does not come through in the photos). It was probably 15-20 feet by at least 40-50 feet if not more. If the building at 7th and Piedmont goes in where the Starbucks is then their pricing is starting in the high 600K for about 1800 square feet.
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Old 04-02-2014, 04:30 PM
 
9 posts, read 7,378 times
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Default It is North facing so not a lot of direct sun and not hard to keep cool

Quote:
Originally Posted by Tarzanman View Post
Lovely photo, but how do you control the climate in a penthouse with such huge windows? I bet that place is blazing hot during our Georgia summers
Since the unit faces North it won't get a lot of direct sun and will not be hard to keep cool.
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Old 04-02-2014, 08:21 PM
 
Location: Atlanta
506 posts, read 346,635 times
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Quote:
Originally Posted by Woodrow LI View Post
Until a member reaches 10 posts there is a level of moderation. There will be a pause before a post becomes visible if it contains links or images even if those are contained within a quote.
Thanks!
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Old 04-02-2014, 08:23 PM
 
Location: Atlanta
506 posts, read 346,635 times
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Quote:
Originally Posted by Johnperson View Post
Since the unit faces North it won't get a lot of direct sun and will not be hard to keep cool.
True. Good point.
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Old 04-02-2014, 08:26 PM
 
2,585 posts, read 3,730,554 times
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That sort of thing wasn't all that uncommon before the Atlanta RE market crashed. I figured things were getting a little nutty when I saw so many "upscale" developments popping up all over Atlanta around 2005-2007 and I wondered who the hell was buying all those places.

Here we go again I suppose.
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Old 04-02-2014, 08:54 PM
 
Location: St Simons Island, GA
23,076 posts, read 35,028,118 times
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By all means, WE MUST GO NEGATIVE.
I'm so bored.
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Old 04-02-2014, 11:42 PM
 
1,114 posts, read 1,993,734 times
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Quote:
Originally Posted by DTL3000 View Post
That sort of thing wasn't all that uncommon before the Atlanta RE market crashed. I figured things were getting a little nutty when I saw so many "upscale" developments popping up all over Atlanta around 2005-2007 and I wondered who the hell was buying all those places.

Here we go again I suppose.
So a condo having an asking price it had 6+ yrs ago is things getting nutty again? Yes, units are back up a bit but construction is nowhere like it was 7-8yrs ago. You're not going to find a tower selling out before they break ground or people going into a lottery w/ the dream of landing a unit to flip before they pour concrete for your floor. Whoever bought this place has had a long wait and it's not like they've had 4-5 bidders going over ask. We don't even know if it'll sell at that price yet. What's a reasonable ask over what they paid especially if they aren't distressed? 10%? 30%? For all we know, they're just putting out a feeler and hoping someone w/ buckets of money shows up and doesn't have a great financial advisor.

Inflationary costs for materials and land aren't getting a lot cheaper around there so the question becomes not what they paid but what's the cost to build a similar unit in the area. The market for 7 figure condos in Atlanta is small so there's not a lot of liquidity in it but there's also not a ton of competition so bid/ask is going to vary wildly.
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Old 04-02-2014, 11:44 PM
 
1,114 posts, read 1,993,734 times
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Quote:
Originally Posted by Johnperson View Post
Since the unit faces North it won't get a lot of direct sun and will not be hard to keep cool.
I face the same view. Electricity is $40-50/mon during summer and comfortable w/ minimal AC. Actually spend more on heat.
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Old 04-03-2014, 11:04 AM
 
Location: Ono Island, Orange Beach, AL
10,024 posts, read 9,335,427 times
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A million bucks for 1900 square feet and no yard? Wow...
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Old 04-03-2014, 01:23 PM
 
Location: Atlanta
506 posts, read 346,635 times
Reputation: 433
Quote:
Originally Posted by DTL3000 View Post
I figured things were getting a little nutty when I saw so many "upscale" developments popping up all over Atlanta around 2005-2007 and I wondered who the hell was buying all those places.
Quote:
Originally Posted by Mishap View Post
So a condo having an asking price it had 6+ yrs ago is things getting nutty again?
The same penthouse sold for $540,000 in 2010.
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