Condo conversion of Atlantic Station’s tallest building has changed the game

Agent: Sales have been swift at The Atlantic as leases expire and building is repositioned

By Michael Kahn Feb 14, 2018, 12:43pm EST

A bright kitchen with hardwood floors, facing an open living space with large windows. — Inside an upgraded unit at The Atlantic.

In the dark days of the Great Recession, construction wrapped up on Atlanta’s tallest tower at Atlantic Station. It was all residential. Not exactly good timing.

Lording over 17th Street, The Atlantic was intended to be developer Novare’s crown jewel condo property. But the economic climate of the time drove the building to go rental.

Now, after a decade and a major rehab of the building, The Atlantic is being fully flipped to condos. Could it be a preview of similar conversions to come?

The Atlanta office of Engel & Völkers is heading up the sale of more than 400 units in the 47-story building, and according to agent Christa Huffstickler, sales so far have been strong.

Marketers say the building offers unique features not found in many condos—both new and old—in the city. Most units offer half-bathrooms, and all have gas ranges, generous outdoor areas, and operable windows in each room.

Units are being marketed in two ways: as is, or with full kitchen, bath, and flooring upgrades. Amenities include a billiards and poker room, valet parking, and catering service at the pool.

Given its location, across the interstate from denser development in Midtown, the views of the Atlanta skyline, in many cases, are unique. (It remains, for now, the tallest all-residential tower in the city.) And with the Home Park neighborhood filling the blocks south to Georgia Tech, it’s unlikely that will change anytime soon.

Remaining units are being marketed from the upper $300,000 range. Penthouses, meanwhile, go for more than $1 million a pop.