Clicks and Mortar

A Real Estate Blog - Est. 2009

Atlanta's Priciest Foreclosure Is...

Think quick:  what's Atlanta's most expensive foreclosure at the moment?  I'll give you some hints.  Its exterior was designed by the nation's foremost classically inclined architect; its interior resembles Warhol's Silver Factory; and the building that houses it went into foreclosure earlier last year.  Give up?

3376 Peachtree Road NE Atlanta, GA 30326

The medal goes to the second-to-the-top floor unit at Buckhead's The Mansion on Peachtree.  And it's currently foreclosure priced at $3,950,000.  Wait, aren't you supposed to be able to snag a foreclosure for the cost of a non-luxury sedan?  Not at the Mansion, darling.

This mega unit measures in at a hefty 9,586 square feet.  That's 5 bedrooms, 5 full, and 2 1/2 baths, with walls of course.  It commands impressive 360 degree views of Atlanta's multiple skylines, but I'm a little disappointed there's nowhere to put a revolving bar, á la the Sun Dial.  Don't need that much space?  You do have the option of buying only one floor, although that giant hole in the ceiling would need to be addressed.  This and the other 39 condos in the building sit atop the hotel portion of the Mansion, and residents are able to partake of the luxurious amenities available to guests.  Come to think of it, the second most expensive condo foreclosure in Atlanta is also part of a residential-hotel development, Above the Four Seasons. Curious and curiouser...

If almost $4 million doesn't sound like much of a deal to you, consider the 2009 sale of the Mansion's penthouse.  That two story, 8,000 SF condo sold for $4,000,000, a 60% discount off the original asking price of $10,000,000.

Posted in atlanta, Buckhead, Condos, condos, Foreclosures, foreclosures, real estate

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