This building is basically sold out now; only resales remain. I helped one investor from Miami and another young couple purchase nice 1700 square foot corner units here. As their “buyer’s agent,” I was able to get tremendous terms and some of the lowest sales prices per square foot ever recorded in the building! This is a building right on Peachtree, a little south of the full-on hustle and bustle of the Buckhead business district around Peachtree and Piedmont. Some people like to be next to all of the dining and class A office towers of northern Buckhead. 10 Terminus, Sovereign, and The Ritz are all in that area. Others prefer a little less traffic and a little more peace. Gallery offers this, and is still within about a mile or so of that area. Unlike most of the other highrises mentioned, Gallery is not mixed use. It is purely residential, so there’s no traffic coming in and out of the parking deck for the retail tenants. Gallery is also right across from one of the oldest churches in Atlanta. Not only does that make for a great view from the upper floors, but in the spring and summer it hosts an awesome farmers market on weekends.
Gallery actually is within walking distance to my favorite Italian restaurant in Atlanta. La Grotta Ristorante Italiano is an Atlanta institution, tucked away in the bottom floor of an older midrise condo. It is an old money institution where most men wear a jacket to dinner, and most all of the waiters speak Italian. The prices are reasonable too given the quality of the food. It really feels more like an Italian place in the North End in Boston than Buckhead Atlanta.
Definitely try this place out if you are new to Atlanta.
Gallery is a building that never went under foreclosure and has managed to sell out 100% of its units since its opening in 2007. Honestly, that is quite a feat given the economic climate. The cheapest units here used to be in the mid $400K range for one-bedrooms plus dens. Currently there is a one-bedroom plus den listed for just under $300K. There are also two low floor 2-bedrooms listed in the $395K-$315K range. Upper floor two-bedrooms are listed from the high $400K-$600K range.

These final prices are about 30-40% less than the original sales prices of similar units. This is one of the best buildings in Buckhead as well as one of the best values at this price point. About 30-40% of the units here, like other better buildings, were paid for in cash. I have noted many retirees in this building.

You have to ask yourself, in ten years will there be many more luxury high rises in Atlanta? Probably not. In fact, few if any. Will there be more people living here? Yes. Will there be inflation on assets like luxury high rises? Oh you bet. Guess what? That makes purchasing a luxury building in Atlanta a prime play for your future. Lock in your 3-4% interest rate today (see my financing tab, talk to my finance guy Al Alford).

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