A Midtown Condominium Building Actually Sold Out

The market for new condominium homes in Atlanta (Midtown specifically) has reached an important milestone: a building built during the boom has actually sold out. By virtue of its coveted location on Piedmont Park, Luxe Midtown- developed back in the good old days by Paces Properties, Inc. and Trammell Crow Residential- managed to avoid the commoditization that beset other condominium projects in Midtown as inventories reached dizzying heights. But Paces and TCR lost the project in the wake of the spectacular collapse of mega condo financier Corus Bank. When ST Residential acquired the Corus portfolio in Atlanta (among other places), Luxe was already in far better position than competing projects like ST's own Atlantic. And the project likely benefitted from the transition issues that were avoided when ST selected The Marketing Directors to continue the marketing and brokerage of the project. The sell-out of Luxe is a second win for TMD, who closed out another Corus legacy project- Horizon at Wildwood- back in January.