Lease Permit
State Of The Union: March 2015: A building by building update
It has been a while since I painted some color building by building. That said, I wanted to run through the latest happenings and prospects of various buildings around Midtown and Buckhead. For the most part, the economics remain the same. There is no new supply to the condo market, and as the economy improves month by month incremental buyers continue to enter the demand side of the equation. Of course I say there is no new supply, and there really has not been any condo building of over 40 units built in the past 8 years, but there is one development finally coming...
August 2013 Best Condo Deals
OK, so I really have not been blogging as much as I would like given how busy I have been this summer. That said, I am going to try and starpooolt noting the best ATL Condo Deals monthly. This will a rough patch primarily focused on Atlanta Intown condos with a particular emphasis on Midtown, Buckhead, Atlantic Station and Inman Park. Below is a rough and loose cross section of the some of the best deals I have seen this month. As I last checked these condominiums were available. But given that they are good deals in a strong market, then may be gone now. These are not my listings...
The Brownstones At Lindbergh large Townhomes over 2300 sq ft under $350k!
These are brand new LARGE brick townhomes with over 2300 square feet! At under $150 a square foot, and with only a $99 a month HOA fee, these are a bargain. it is no wonder that these are already almost sold out! 20 out of the 30 townhome slots have SOLD! These are Fee Simple as well meaning that you can lease them! Rarely do you find intown townhomes over 2,000 square feet under $400,000. These units in the low $300k range are a good deal. Having listed and sold a number of the smaller Sera townhomes in the low to upper $200k range I have a pretty good sense...
New Construction Conodo Developments with Units Left. Few and far between!
Summer is here and as more and more people are calling me to purchase highrise condo and Lofts I am encountering more people asking me what Condo buildings still have brand new units for sale. With this posting I hope to outline the remaining availability of product choices in Atlanta. In the link below you will find all “New” condos currently listed in the FMLS as of May 22, 2013. http://fmls.fusionmls.com/DotNet/Pub/EmailView.aspx?r=1058516229&s=FML&t=FML Below is a loose outline of buildings, pricing and if they likely have lease permits for investors...
The Stacks Lofts Historic NY Style Lofts at an Amazing Price
The Stacks Lofts is in Cabbagetown are marketed as “Atlanta’s only real NY style lofts”. Up until this past summer I had often overlooked the Lofts as the first phase of development here tended to be smaller size units. A few years ago the vast majority of what was available here were 800-1100 sq ft “Lofts”. At that time there were a number of foreclosures of these smaller size units in the community and I did not see the relative value of the building, given the smaller scale of these “Lofts” at the time. Fast forward to 2012 and now...
Do you know the 12 questions to ask a HOA when Buying into a Condo or Loft?
So lets say that you have found yourself compelled to purchase a condo. A new unit or a resale, either way it is important to understand the Condo Association that you are buying into. As a landlord and highrise condo owner myself, I deal with wide swath of HOA issues ranging from better properties which work to build reserves and lower energy costs in common areas, all the way down to more down downtrodden properties where communal central water bills can create large issues including extra assessments. For my clients I offer twelve telling questions which should always be asked of the HOA...
Considering investing in Atlanta condo? These buildings still have Lease Permits!
OK, so many of you have come to me asking about investment highrise units, and even midrise condos intown. This is a recap of what is left to purchase out there for investment purposes. Basically most all buildings sold out are at their approved HOA mandated 25% rental cap. You see, if you are coming from Philly, or NY, or Boston, you may not understand the way our condo system works down here. Basically most buildings in Atlanta work very hard to ensure that the atmosphere does not turn into a bunch or renters running wild ruining the amenities and creating...
The Astoria At The Aramore
This is a great building that does a great job incorporating a Grand piano, Marble floors and high ceilings in its expansive lobby. The pool, and garden area are very well suited to a better building like this. This building is about 90% sold now! Wow, time goes by! I remember when this was just coming to market and everyone questioned if this would sell out. The Astoria building is a nice mix of 2 and 3 bedroom homes. Although this is one of the few buildings I have not either sold or listed a home in, I have helped one of my Buyers purchase in The Aramore this year. The Aramore offers well priced...
THE W HOTEL RESIDENCES DOWNTOWN
OK, so The W Hotel Residences were shelved for a long time. The good news is that they have been on sale now since around the start of 2012. An Investment firm purchased both the Hotel (237 keys) and the 74 luxury condos out of foreclosure. The good news is that this firm paid cash, and now has no debt. Often times when I look at condo deals getting off the ground and going to market I am weary of developers with a lot of debt. Buildings like The Element, Aqua, and others have had issues selling out when the Developer carries a lot of debt. With this...
THE W HOTEL RESIDENCES DOWNTOWN
OK, so The W Hotel Residences were shelved for a long time. The good news is that they have been on sale now since around the start of 2012. An Investment firm purchased both the Hotel (237 keys) and the 74 luxury condos out of foreclosure. The good news is that this firm paid cash, and now has no debt. Often times when I look at condo deals getting off the ground and going to market I am weary of developers with a lot of debt. Buildings like The Element, Aqua, and others have had issues selling out when the Developer carries a lot of debt. With this...
