Atlanta Condos For Sale

Colony Square to Take The Roof Off With Renovation

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Colony Square to be Redeveloped by North American PropertiesI have said many a time walking through the “mall” at Colony Square in Midtown Atlanta….”what a waste of space.”  I guess someone finally overheard my conversations with myself!

Colony Square to Take The Roof Off With Renovation

North American Properties ( think rework of Atlantic Station and the amazing suburban Avalon fame) along with Lionstone Investments closed this week on a $170 million purchase that will redevelop Colony Square and says it will take the roof off the retail core. i.e. The Mall.

Colony Square Mall Midtown AtlantaLocated at 14th and Peachtree Street, this point in Midtown has often been called the heart of Midtown and the densest part of Midtown Atlanta. The complex includes two office towers with over 700,000 square feet, some 160,000 square feet of  retail space, along with the 467-room W Midtown Hotel, and Hanover House and Colony Square Condominiums.

“Over the decades, the Midtown neighborhood around Colony Square flourished while the iconic building became sleepy and tired,” Mark Toro, managing partner of NAP, said early Wednesday. “ On July 4, 2018, the 50 th anniversary of Colony Square’s groundbreaking, we will celebrate the grand opening of the reimagined Colony Square. We will engage with the city, with the street and with pedestrians, and it will fundamentally change the experience of living and working in Midtown Atlanta.”

In the same fashion that Toro reached out to the Midtown Atlanta community after they purchased Atlantic Station, the development team is seeking feedback from the community as well as known urban design experts the likes of Jeff Speck, author of Walkable City and Fred Kent, founder and President of Project for Public Spaces. The team is again using social media to gain this input, using the hashtag — #ReimagineCS.

“We are extremely pleased to have Colony Square as the second investment in our new value add fund,” Lionstone Investments Senior Vice President Tom Paterson said in the release. “We look forward to working with NAP to re-engage the project to the street level and provide a truly differentiated use environment in Midtown. Our goal is to create something that is truly irreplaceable at the corner of 14th and Peachtree.”

Midtown Atlanta Colony Square

“As with our other mixed-use projects, we will curate the right tenant mix, layer in resort-inspired hospitality and exceptional experiences, to significantly and positively impact the value of the development,” Toro said. “Our first step is to listen to the community stakeholders and guests as they are integral to the transformation. We look forward to premiering Colony Square – the Sequel.”

Now, they sort of misunderstood what I was saying. I often thought that the indoor space just needed to be re-worked to be a great shopping/dining destination that would be in air conditioning for the Hotlanta summer heat, and heated when Midtown gets a bit chilly. But if the Atlantic Station turnaround, and Avalon are any indication of what this team plans to do to Colony Square…then I can hardly wait! Let’s get the camera out and be ready to capture the transformation!

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What Condos Have Sold in Midtown Atlanta?

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Midtown Market Report November 2015I was at my desk bright and early this morning (that would be 6:30am for me!) and I had not yet thought of a blog topic for today. So the question came to ME, and then I figured it had to come to you if you were looking to Buy or Sell a Midtown Atlanta Condo….

What Condos Have Sold in Midtown Atlanta?

And we want to keep this information pretty relevant if you are on the edge of getting ready to Buy, or the edge of getting ready to LIST your Midtown Atlanta Condo For Sale, right? So, I did a map search of the MLS (shown at the right) for the last 30 days and came up with the following results:

There were 34 condo sales in the aforementioned map area, ranging in sales price from $74,900 at Melrose Park, to $762,500 at Spire Midtown for a combined condo. (two units combined to one…specifically Number 2305….she was a beauty by the way!)

Some other noteworthy sales include a 1 bedroom at 1010 Midtown for $323,500 and a 1 bedroom at Aqua for $300,000. Y-E-S…I said a 1 bedroom! For you “How Much was that per sq. ft.?” types, 1010 was $371 per sq. ft. and $283 per sq. ft. at Aqua. The 1010 home was 872 sq. ft. vs. 1,060 at Aqua. Was one a better deal than the other? Well you certainly got more square footage for your money at Aqua. But, if you are looking at monthly costs, the HOA at 1010 is $260 per month vs. $527 at Aqua. That’s a bit of a difference on your monthly costs!

I’ve included a list below of all the 34 sales, so you can see the buildings that had sales, and the prices. Another notable fact….over half of the sales were OVER $200,000. Just showing any Buyer sitting on the fence, that waiting will probably only cost you more. Interesting note is the inventory at Cornerstone Village…. some nice options got taken up at a $150-170,000 range, and the current listings in the building ar at $160 and $190,000. Also, there are two 2-bedroom listings that have been on the market for 90 days. Buyers are looking for value, but can’t wrap their heads around the open loft-style of these two listings. (Both have walls that do not go all the way to the ceiling, so privacy in the bedrooms is limited.) Mind you, a creative agent can point out how easy it would be to close off a bedroom with minimal construction and create a totally unique space and condo for the building. But hey, that’s just my salesman mind at work!

 What Condos Have Sold in Midtown Atlanta?

What Midtown Condos Have Sold

Midtown Condo Sales

What Condos Have Sold in Midtown

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See all Midtown Atlanta Condos For Sale 30308 30309.
(all data current as of 11/19/2024)


FMLS Logo Listings on this website come from the FMLS IDX Compilation and may be held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. If you believe any FMLS listing contains material that infringes your copyrighted work, please click here to review our DMCA policy and learn how to submit a takedown request. © 2024 FMLS.
Data last updated: 11/19/24 7:29 AM PST.

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What Are Condo Docs?

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Declaration of Condominium, condo docsWhenever I work with a condo buyer (and that is pretty much every day!) there are numerous things we do as we purchase a condo. While buying a single family home in a subdivision might have HOA rules, they are usually much more involved when you purchase, and live in a condo.

What Are Condo Docs?

In every condominium purchase contract I write for my clients, I always include this special stipulation:

SELLER TO PROVIDE FULLY RECORDED COPY OF CONDOMINIUM DOCUMENTS, CURRENT ANNUAL BUDGET AND LAST 6 MONTHS HOA BOARD MEETING MINUTES TO BUYER WITHIN THREE DAYS OF BINDING AGREEMENT DATE. IF BUYER FINDS OBJECTION WITH ANY INFORMATION THEREIN, OR THE SELLER FAILS TO DELIVER SAID DOCUMENTS WITHIN THREE DAYS, THE BUYER MAY CHOOSE TO VOID THIS CONTRACT WITH WRITTEN NOTICE TO THE SELLER WITHIN 4 DAYS OF BINDING AGREEMENT DATE AND WILL BE ENTITLED TO A FULL REFUND OF ALL EARNEST MONEY.

The condominium documents included the Declaration of Condominium and The Association By-Laws. As you can see above, I additionally request a copy of the HOA Budget and the last 6 months of HOA minutes.

What’s IN the Declaration of Condominium? Here’s a sample Table of Contents:

  • Definitions
  • Location, Property Description, Plats and Plans
  • Units and Boundaries
  • Common Elements
  • Limited Common Elements
  • Association Membership and Allocation of Votes
  • Allocation of Liability for Common Expenses
  • Association Rights and Restrictions
  • Assessments
  • Insurance
  • Repair and Reconstruction
  • Architectural Controls
  • Use Restrictions
  • Leasing
  • Sale of Units
  • Maintenance Responsibility
  • Mortgagee’s Rights
  • General Provisions

Condominium Rules and RegulationsThis particular condominium Declaration is about 70 or more pages. Your newer buildings will have much longer condo docs. But you can see there is a wide variety of things that are cover. I mean, I could do a blog post series on every topic. (Hmmmm, there’s a thought?)

It’s important for you to review this document, no matter the length. SERIOUSLY!  You may not read it in depth, but by scanning the Table of Contents and then each section, you will have a better understanding of the “Rules of the Road” for living in that condo building.

The Declaration of Condominium is filed by the Developer when the Condominium is created. You are provided a copy (especially in new construction) by the sales representative for the Developer. But in any re-sale, you must obtain a copy from the Seller. If you note in my special contract stipulation, I underlined the words FULLY RECORDED COPY OF CONDOMINIUM DOCUMENTS.   What THAT means, is over the course of years, the owners can have voted to amend, or change the condo docs. They could have agreed to change anything from a pet policy, to leasing terms to parking assignments. Each time the condo docs are changed, they must be legally recorded in with the Clerk of Superior Court in the County where the building is located. Of course, all of Midtown Atlanta will be Fulton County.

We want to see ALL the changes to the original Declaration, to make sure there is not some material change that could affect you, and how you live and enjoy your home.

The Association By-Laws are simply the rules and make up of the Homeowners Association, or HOA. Equally Important, as they will spell out the makeup of the Board of Directors, Meetings, and the Powers and Duties of the Board. (Yeah, this is important!)

As we obtain, and review these documents, I’m here to answer any questions you may have. Your lender, if you are obtaining financing, will certainly review the budget to look for things like reserve fund balances and the income and expenses of the association.

It’s all good…and certainly nothing that should “scare you” when you look at these documents. When you live in close proximity to your neighbors, and share common things (walls, hallways, club rooms, etc.) you need to have “rules of the road”  to guide everyone!

What Are Condo HOA Fees Spent On?

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Everyday when I’m working with Midtown Atlanta condo buyers, part of our conversation is about the monthly HOA fee that is required when you own a condominium. Indeed, some buildings it can me quite an expense, and it is based on the size of your condo to start with.

What Are Condo HOA Fees Spent On?

I often try to relate this back to living in, or owning a single family home. Just think of these activities….

  • Mowing the grass, blowing off the driveway and planting flowers (Exterior Landscaping)
  • Painting the hallway you use to get from the bedroom to the kitchen/living room (Common hallway in the building)
  • Fixing the TV when it breaks ( Could be the TV’s in the Club Room that you use)
  • Fixing a leak in the roof (The roof of the building or anywhere there could be a leak in the building)
  • Repainting the front door of your home (painting the outside of your entrance door–if not wood) or the trim around it)
  • Paying your homeowner’s insurance (HOA pays for the exterior of the building- you pay for your contents)
  • Paying your monthly security alarm system (Concierge, roaming security officer, controlled access system)
  • The garage door won’t open (some yahoo drove into the gate in the garage before it opened)

In you single family home, there are areas that you could call “common” such that we call them in a condo building. The reference to the hallway above is like the hallway you walk down from the elevator to your condo door. Oh, and yes…the elevator. No, you don’t have one in your house, but you probably don’t want to climb 25 flights of stairs, right? So we have to maintain that elevator.

But when you see damage to the common areas, most likely caused by another resident/owner, just remember, you all pay for that repair out of your HOA dues. So a careless resident (and they DO NOT have to be a renter…I’ve seen a few OWNERS beat up buildings) can be costly. And it affects the overall appearance of your HOME….imagine you or your guests entering the building and the doors look like this?

Cornerstone Doors

Sure, there is a thing called “normal wear and tear” but this looks pretty tough. The photo on the right is above the normal door handle one should use, so you have to wonder how that paint got all chipped off. But the bottom….well, I personally stood there and watched a resident (don’t know if they were an owner, or a renter use THIS and let is scrape all along the door as she pulled it out to get her groceries out of her car.

condo damages

First off, where on EARTH do you PARK this thing in a condo? But just imagine all that metal scraping along the door as she pulled it out and did not first prop it open (another no-no if you leave a door propped open…but that’s a whole other topic).

So the next time you are wheeling your carry-on luggage home from MARTA and going down the hallway to your condo, try not to scrap it down the hallway. Afterall, it is YOUR hallway and it is What Your Condo HOA Fees are Spent On!

Midtown Market Report | July 2015

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Midtown Market Report | July 2015 | $300-400,000

As we continue to take a look at the sales for July, 2015, let’s see the activity in the price range of $300,000 to $400,000 in this Midtown Market Report.

ACTIVE LISTINGS

Midtown Market Report $300-400K August 30, 2015

When you consider the size of Area 23, this is NOT a large inventory of condominiums in this price range. These prices, however, will get you into buildings such as Luxe, White Provision and the Mayfair Renaissance, to name just a few.

PENDING (UNDER CONTRACT) LISTINGS

Pending Listings July 2015 Market Report August 30, 2015

An interesting note on the homes that are Under Contract. Only one listing showed a price adjustment from what it was originally listed at! This would mean either agents have got Sellers pricing their homes right and they don’t need price adjustments to sell, or that since inventory is so low, there is no need for a price change since the home goes Pending so quickly!

SOLD!!

Midtown Market Report 300-400 July 2015 September 3, 2015

Ah, but now when we look at actual sold numbers, what homes were originally listed for, we see some difference in the Original List Price vs. the Sold Price. But, Seller’s are getting about 97% of what they are asking for their Midtown Atlanta condo.

You can find all of our Midtown Atlanta Market Reports HERE! 

Market Report Note — When we do a Market Report, please keep in mind it is a snapshot, taken on a specific day, based on specific criteria we ask for from FMLS. It can change the next day. If you are considering Buying or Selling, we can give you more specific information about a neighborhood or a specific condo building. 

High Museum Midtown Atlanta August 24, 2015

Midtown Atlanta Market Report | July 2015

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Midtown Atlanta Market Report | July 2015 $200-300,000

Midtown Atlanta condominiums really do come in all shapes, sizes…and prices. Let’s take a look at the sales for July, 2015 for condominium sales with a price range of $200,000 to $300,000.

Active Listings

Midtown Market $200-300K August 24, 2015

67 condominiums are on the market in Area 23 (Of which the majority of Midtown Atlanta is in based on the FMLS) If you are looking for a 2 bedroom, and think you can’t find one under $300,000, a look at the listings shows numerous 2 bedroom options, mind you not all of them are in the central part of Midtown. But we did see listings in buildings like Park Central, Mayfair Tower and Peachtree Walk.

Pending (Under Contract) Listings

Midtown Market Report August 24, 2015

Just 16 homes are showing Under Contract. Keep in mind, we specifically pull those listings that went Under Contract during the month of July. There are actually 61 homes Under Contract in Area 23.

SOLD!

Midtown Market Reports

Here we get a bigger picture of the market….and we had a couple interesting bits with Days On Market! There was one listing with a ZERO, and the average in July, 2015 was just 21 days on the market! WOW! In comparison, in July 2014, there were 33 homes sold at an average of $247,572. While the Average Sales price is down for July of this year, I’m not concerned. It just means there were Buyers out there that picked up the low hanging fruit!

So, why did YOUR home not sell?

There can be a number of reasons, but in Midtown Atlanta condominiums, it usually has to do with your floor plan (we do have some not-so-well-thought out floor plans) or perhaps the view (both the floor and what you see out the window/balcony) and there is certainly price. If your home is on the market at Price “X” and it’s not selling, and you are not making a price adjustment, you will be ON the market. That market is telling you we are not willing to pay you what you are asking, or perhaps even make an offer at the price you have.

If you would like to see other July, 2015, Market Reports, just bookmark this post, and we will add links as we complete them.

Midtown Atlanta Market Report | July 2015 | Under $200,000

High Museum Midtown Atlanta August 24, 2015

Thom Abbott

Associate Broker, REALTOR(R)
905 Juniper Street, NE Suite 110
Atlanta, Georgia 30309
770.713.1505 Direct
404.876.4901 Office

 
 
 
 
 
 
 
 
 
 

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