With lenders loosening their grips on jumbo loans these days, the inventory at the Sovereign condominiums — the tallest building in Buckhead, and our pick for the swankest condo tower in Atlanta — is drying up fast. Atlanta Skyrise Blog notes that only 17 of 82 units remain unsold, and the developer is on track to potentially sell out in early 2014. The building opened in 2008, in the crappiest climate for lending in recent memory, so the delayed sell-out is understandable. But in the last three years, $1 million-plus sales at the Sovereign have risen from six units, to 16, to 20 so far this year, the site reports. The sobering news for non-athletes or magnates is that nothing left for sale is cheaper than $1.39 million; that price bags a roughly 2,500 square-foot, two-bedroom unit with a den. Since the residences don't start until the 28th floor, each unit is basically guaranteed pristine views. But that's not the only selling point.
As the blog notes, part of Sovereign's success is based on its uniqueness. "Corner units in the building have interesting angles and the rooms aren't cookie-cutter," writes Realtor Kevin Grieco. "All units have deep room-sized terraces, which can accommodate built-in gas grills and fireplaces." Additionally, Grieco observes that the majority of units, if not all, have been professionally designed and are "tricked-out with the latest technology."
For real ballers: One three-bedroom Sovereign home is for sale at the moment. With 3,900 square feet and a $2.49 million price tag, it's the max price in the building.
· 17 Condominiums Remain at Sovereign in Buckhead [Atlanta Skyrise Blog]
[ABOVE: Sovereign photo via dingmanphoto.com]