Buckhead’s Pink Palace under contract in less than a day

The Neel Reid and Philip Trammell Shutze-designed mansion dates to 1926

By Michael Kahn Feb 6, 2017, 8:00am EST

An aerial view of the Pink Palace in Buckhead.

Gov. Nathan Deal may soon have new neighbors in Buckhead.

The iconic Pink Palace, a classical home that has languished on the market for years, has been claimed after relisting for just under $5 million — a $15 million price chop from its initial pre-recession offering.

We reported the house was listed for sale on Wednesday, and according to the Atlanta Business Chronicle, the property had a pending offer less than 24 hours later, though the exact price is unclear.

For more than four years, the European-inspired mansion has bounced on and off the market after being foreclosed in 2012.

Designed for the Rhodes family by renowned classical architects Neel Reid and Philip Trammell Shutze, the home features a wide array of original accents, but has had some serious modernization in the bathrooms and kitchen.

Shutze is known for designing many homes for the monied of Atlanta in the inter-war years. One of his most notable residential works, the Swan House, stands not far from the Pink Palace on the grounds of the Atlanta History Center.

Last year, one of his homes was purchased by a wealthy Atlanta-based executive and immediately demolished to make way for a new home. Needless to say, classicists were not enthused.

Let’s hope the (potential) new owner of the Pink Palace embraces history.