The Mansion on Peachtree facing threat of foreclosure (Atlanta, Reynolds: sales, loft)

[nature's message]

http://www.bizjournals.com/atlanta/s...581200^2659491

One of Buckhead’s most prominent new developments — the Mansion on Peachtree — could be heading back to the lender.

Barring a last-minute deal, the high-end Mansion on Peachtree is facing imminent foreclosure, according to the project’s developer. A 30-day foreclosure notice is expected to be advertised on Jan. 5.

[ATLHRLGUY]

it is official, sold at auction yesterday for $66M. Mansion on Peachtree sold at auction - Atlanta Business Chronicle:

[BobKovacs]

I never understood the allure of that place- it looks like a prison with those tiny windows. If I was going to pay $4 million for a condo, I'd want floor-to-ceiling glass- not a tiny window to look out of.

[ATLHRLGUY]

Me too Bob, the mansion didn't have the curb appeal as sovereign b/c it wasn't ON peachtree b/c Craft took up the prime spot. Frankly I preferred the interior finishes of the mansion over sovereign but I agree the mansion's design was bland and sovereign's design blew it out of the water. Sovereign and Terminus luckily have no debt on their buildings so they're ok, can't say the same for 3630 Peachtree (Ritz Residences) who have little or no sales to speak of and the St. Regis has only closed on 16 of their 53 residences.

[atlantagreg30127]

Originally Posted by BobKovacs

I never understood the allure of that place- it looks like a prison with those tiny windows. If I was going to pay $4 million for a condo, I'd want floor-to-ceiling glass- not a tiny window to look out of.

You say that now, Bob - but wait until the next tornado passes through a condo area. That knee-wall might be what keeps you from getting sucked out of the 30th floor when it passes by.

I'd never have floor-to-ceiling glass in my condo. I'd pick one of the loft style ones with brick knee-walls so it looks like a "real" window in a home, not a storefront of a retail store. I'm anal about stuff like that... I've watched too many disaster movies. I can see myself sitting in a sofa and our first earthquake hits or that F3 goes by, and poof, my glass wall breaks and I go falling 300 feet. ARGH.

I always thought the Mansion looked kind of pre-fabbed, anyway. Something odd about it. Maybe it was just the name.

[noah]

I think there are attractive condo buildings that are not all glass (The Reynolds is another one that comes to mind). The windows may look small from down below but are probably a good size.

[blondandfun]

I think the building is a nice ornament for the city. That's all skyscrapers are really. But it needs some lighting!

[Radley]

Wow....... that's a very nice building. Has an interesting feel to it. Very timeless architecture.