Plaza Midtown

This building sold out probably at the peak of the housing/condo bubble in 2006. That said, there are many short sales and foreclosures from people who paid up to $450 per square foot in this building. On the plus, side this building has the best assortment of dining options downstairs. On top of that, Publix supermarket is also located on the street level. Talk about convenient!

The builder of 1010 also built the units at Plaza Midtown. These homes tend to have large private balconies. On the downside, many of the views are lacking. About 30-50% of the units face the freeway or the Checkers and Domino’s fast food establishments downstairs. Not very ideal. Additionally, the building is further from Piedmont Park and all the action, which is mostly on Peachtree. This is an element that does not affect value so much now, but I feel it will. More so in the future I suppose. Indeed, being in close proximity to the park will become more paramount with regard to real estate values moving forward. The two lobbies of each of the buildings are kind of boring as well. The pool, while large and open 24 hours, is on a lower floor, and one of the two Plaza tower buildings blocks the morning sun. The gym and clubroom are on the smaller size and you have to walk outside to get to them.

The units themselves are a little larger on average than Spire and Metropolis. Some of the finishes are nicer, while in other units they can be all carpet and no hardwoods, which is kind of a drag. The foreclosures and short sales were found frequently, but not so much this year. Most of these cheaper units are on low floors without much of a view, but for the price it could be worth it for you. One-bedrooms here start as low as $150K; currently two-bedrooms are starting in the $225K range here for lower floor units that need some work. Prices have for sure come up over the past six months as many of the foreclosures have sold out. One of my clients purchased a smaller two-bedroom corner foreclosure here for under $200K in late spring, but I suspect deals like that may be gone now as the market has moved up. Currently, the cheapest one-bedroom is near $190K, and the cheapest two-bedroom is a freshly listed foreclosure which is listed at $219,900.

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