By Shandra Hill Smith
Young professionals, baby boomers and families looking to downsize – though not necessarily on the high-end amenities they’ve come to appreciate – have turned to condominium living, and at rapid rates in some cases.
According to the Atlanta Market Overview for First Quarter 2011, a market insights report by The Marketing Directors, 10 metro Atlanta communities are top sellers. They include Serrano, The Brookwood, Paramount, 1010 Midtown, The Atlantic, Luxe, Viewpoint, Stacks II, Madison Square and Horizon.
The Marketing Directors (themarketingdirectorsinc.com) provided exclusive sales and marketing for six of those: Serrano, The Brookwood, Paramount, The Atlantic, Luxe and Horizon.
The report shows that the top 10 accounted for more than 71 percent of total net sales in the quarter. Location and amenities are among the reasons the properties landed on the list. Here’s a closer look at some of these and other top sellers.
If you’re looking for an example of a fast-selling property, Serrano fits the bill. In its first five months of sales, 77 of the 150 condos were sold. A five-story, 150-unit luxury condominium community in Sandy Springs, Serrano is convenient to Perimeter Mall and other shopping, as well as dining and entertainment venues.
Serrano offers one- , two- and three-bedroom units with 13 floor-plan designs. One-bedroom condominiums start in the $120s, with two bedrooms priced from the $130s and three bedrooms from the $160s.
The units include granite countertops, stainless steel appliances, crown molding, hardwood flooring in living areas, glass-enclosed showers and more.
Other amenities at Serrano – owned by ST Residential – include a courtyard with swimming pool, outdoor grill, fireplace and clubroom with kitchen.
For those in the market, the seller is paying two percent in closing costs during the month of August. serrano-atlanta.com
In the heart of the historic Brookwood neighborhood, The Brookwood is a 219-unit, mixed-use community. Two- and three-bedroom condominiums, starting in the $240s, range from 1,252 to 2,574 square feet and include features such as 10-foot ceilings (11 in certain residences); floor-to-ceiling windows providing natural light; wide-plank hardwood floors; natural wood cabinetry; Viking stainless steel appliances; and soaking tubs and separate showers.
“For those who don’t want the upkeep of a home, but want all of the designer finishes, this is the place,” says John Huckaby, senior vice president, ST Residential, which owns The Brookwood, Serrano, Luxe and The Atlantic. “The Brookwood is one of Atlanta’s only LEED-certified condominiums, so it appeals to eco-conscious buyers as well.”
Among the property’s amenities are a junior Olympic saline pool, fitness center with yoga room, catering kitchen, coffee lounge and dog walk area. For additional costs, personal training and in-home chef services are available.
Current specials include three percent in buyer incentives for contracts written by the end of August. thebrookwood.net
Roughly 45 percent of the 426 residences at 1010 Midtown, in the heart of midtown Atlanta, had sold by late July. Steps from Piedmont Park, the High Museum of Art and both the Fox Theatre and Alliance Theatre, “this is where Atlanta’s Midtown Mile defines itself with flagship retail, signature residences, luxury hotels and elegant office towers,” says Leslie Williamson, executive vice president, marketing for Coldwell Banker NRT Development Advisors. “According to SMARTNUMBERS, 1010 Midtown is the number-one selling condo in Atlanta based on sales-dollar volume for 2011.”
The 35-story, high-rise condominium at 1080 Peachtree St. features a rooftop deck with pool and cabanas, a state-of-the-art fitness center and more.
Residence features include garden tubs, 10-foot ceilings, granite countertops and wood cabinets. 1010midtown.com.
At 22 stories, Luxe boasts an exclusive Midtown location on the edge of Piedmont Park. It’s steps away from nearby shops, restaurants and business districts.
The 117-unit boutique condominium tower includes one-bedroom homes starting in the low $200s, two bedrooms from the low $300s and three bedrooms from the low $500s. Square footage ranges from 900 to 2,975 square feet with features to include a Bosch stainless steel appliance package, granite countertops, recessed lighting, hardwood flooring and private balconies.
There’s a resort-style swimming pool with sundeck on property, an outdoor grilling area, his and her steam rooms and 24-hour concierge service.
“Just a few homes remain at Luxe,” says Huckaby of ST Residential. “It is one of the most desirable addresses in Midtown. Residents choose Luxe for its boutique feel and spa-like amenities.”
Luxe is offering three percent toward upgrades (refrigerator, washer and dryer, iPod docking station with speaker system and closet) for contracts written by end of August. luxemidtown.com
Hear the name The Ritz-Carlton and you’re likely to form an immediate impression. The Ritz-Carlton Residences, Atlanta, Buckhead aims to continue in the tradition of that brand recognition.
The property offers two levels of amenities, including a formal club level where you’ll find an area for entertaining guests, a full kitchen for food preparation, a formal boardroom that also can serve as a formal dining room and large movie theater.
The Ritz-Carlton provides staff such as full-time doormen, concierge, loss prevention, housekeeping, and porters.
“Staff members at The Ritz-Carlton Residences, Atlanta, Buckhead have years of experience – not just hospitality experience, but Ritz-Carlton experience,” says Karen Rodriguez, associate broker for Dorsey Alston Realtors. “The skill, devotion and attention to detail of the staff create an environment that redefines luxury living in Atlanta.”
The one- , two- , and three-bedroom homes and seven penthouses have the following upgrades and others included with purchase price: MechoShade electronic shades, custom closets by Closets and More, Bosch washer and dryers and climate-controlled storage units. Three bedrooms range from $1 million to $1.2 million for 2,700 square feet, with the three remaining penthouses ranging from $1.6 to $1.8 million. theresidencesatlanta.com
A library, an art gallery and pet sitting scheduling? They’re all part of the community at Gallery Residences, where only 26 of 203 homes remained in late July. Located on Peachtree Road, Gallery includes two bedrooms from the mid $300s and three bedrooms from the low $600s.
Features include open living areas with hardwood floors, 10- and 11-foot ceilings, oversized walk-in closets and limestone flooring in master bath areas.
A 24-hour concierge service includes dry cleaning delivery and scheduling of mobile car washes, housekeeping services and golf tee times.
The art gallery adjoining the lobby features an extensive collection of original works. Rotating exhibits – of paintings and sculptures from four prominent Atlanta galleries – adorn the space. In the library curl up by the fire with a good read and take advantage of the catering kitchen nearby.
Financing is available to include FHA and Fannie Mae approval. gallerybuckhead.com
By Shandra Hill Smith