Bottles are popping at the W Atlanta – Downtown. Officials are calling 2013 a "banner year" in terms of condo sales at the swanky high-rise lodge, which opened in 2009 as the first newly built W in Atlanta. A total of 42 homes sold last year, pushing the Residences at W Atlanta – Downtown past the 75-percent sold milestone after years of sluggish activity. (Atlanta Braves outfielder Jordan Schafer bought this bachelor pad there, replete with a column wrapped in red faux crocodile skin.) The sales number is more impressive considering the building offers just 74 homes total.
The sales activity has translated to price hikes at the W, of course, with pimped-out two-bedrooms now starting at $518,000 and three-bedrooms at $933,000. "Demand for new construction condominiums in downtown Atlanta was quite robust in 2013," David Tufts, president of The Marketing Directors, said in a press release. Does this signal a dearth of available condo product intown? Do buyers seeking brand-new condos have too few options nowadays?
Back in August, the national media took note of the resurgence in Atlanta's luxury condo market. The Wall Street Journal reported Atlanta had been dragging a nine-year inventory of luxury condos back in the dark days of 2008. That inventory had shrunk to six months by August and is likely lower now.
· Reports: ATL Condo Market Springs From Rancid Hole! [Curbed Atlanta]
· Private Quarters: Amazing views from Braves outfielder's condo [AJC]
· W Atlanta residences [Website]
[ABOVE: W Atlanta Downtown. Photo: booking.com]