Discounted by $1.6M, Italian-style compound tries again in Buckhead

Buyers who’d fancy Euro-style living on a Buckhead peninsula in the Peach State’s richest zip code could find this new Monte Carlo Drive listing agreeable, if not extraordinary.

Provided their budgets would allow for mortgage payments in the neighborhood of $30,000.

Given its frequent appearances on listing services in recent years, this 12,900-square-foot, vaguely Italian palace could look familiar to Atlanta real estate observers. It’s said to have the only double-edge infinity pool on Buckhead’s Elarbee Lake, which is nestled off Interstate 75 and Mount Paran Road, not far from the Chattahoochee River.

The nearly 3-acre grounds include a lovely, manicured motorcourt, a fenced basketball court, loggia beside the pool, summer pavilion, spa, and a Thinking Man statue. It counts lake views and the end slot of a prestigious cul-de-sac.

Moving inside, find six bedrooms, seven and a half bathrooms, and plenty of dramatic ceiling dimensions. Given the exterior aesthetic, the mahogany doors, wine cellar, and opulent chandeliers hardly surprise, though the overall vibe leans more restrained class than gaudy excess.

Slightly more surprising are the home’s elevator, “morning kitchen,” self-sustaining generator, and powerful McIntosh home theater system.

Despite its attributes, this place has struck out with buyers for several years running.

The property ranked among Atlanta’s highest sales of 2011, the last time it traded.

It’s been listed off and on since early 2014 for as much as $7.5 million, but records indicate a sale never materialized.

Back on the market within the past week, the revised asking price of $5.9 million represents a serious discount over what buyers would have paid four years ago—the rare Atlanta property that’s getting cheaper.

Perhaps this time the price is right.

• 1325 Monte Carlo [BHHS Georgia Properties]