While the abundance of luxury high-rise condominium inventory gets a lot of the press, the high-end building boom of the middle of last decade also delivered some very nice townhome product to a short stretch of Peachtree Road near Jesus Junction in Buckhead. Like their skyscraper-building brethren, developers of projects like the Bellingrath, 39 West Wesley Road and Regents Park wagered that well-heeled Atlantans downsizing from multi-million dollar homes in Buckhead would be looking for lock-and-leave options nearby to ease a lifestyle of bouncing between 2nd and 3rd homes. Then the bubble popped, and the projects joined the rest of the inventory pile-up. Of the three aforementioned luxury projects, Regents Park may be the most lavish. The developers (venerable Atlanta firm Carter, in a somewhat rare foray into residential with partner Colonial Properties Trust) spared no expense in building these, from an expensive exercise in earth moving and cement pouring that gives each unit its own underground garage directly beneath their unit, to the ultra high-end finish level (walnut floors, Carrera marble) inside the homes. This particular listing features a 4 bed, 4.5 bath "condo/townhouse" for $2,450,000, which reflects a price cut following Resource Real Estate Partners purchase of the distressed asset in 2009. Not sure how long it will take for these to fill up, but buyers willing to step up are likely to get great deals on some very lovely homes.
· 2440 Peachtree Road NW [Harry Norman]
· Regents Park [official site]
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