The change may be coming with all the new apartments under construction as a Buckhead project has announced it will convert from apartments to condominiums. The Sutton Buckhead, located at 2965 Peachtree Road, has announced that the 21-story, 151-unit building will build out as For Sale condominiums. GREAT news for condo buyers looking for a Buckhead option.
Preserve Properties, the developer has said the one to three bedroom units will start at $500,000. The highest priced homes will top out at $1.4M. One bedroom units will feature 1,000 square feet (much larger than past condo buildings have offered for size) and the three bedrooms will be up to 2,000 square feet.
John Draper, President of Preserve Properties said he wanted to offer upscale condos at an “attainable price.” Certainly, $500,000 for a one-bedroom condominium is not cheap (think Midtown pricing where a 1 bedroom is in the $250-300,000 range) and the project is just over the entry level Buckhead market, which is around $450 per square foot. The Sutton Buckhead will start at about $500 a foot.
Those familiar with Buckhead will recognize this site, just south of The Shops of Buckhead and Pharr Road. The site was home to a gas station and Chinese restaurant. An article at Curbed Atlanta in July, 2016 indicated the amenities of the building would include a resident coffee bar, business center, guest suite, club room, fitness room and a rooftop deck with a pool, and outdoor kitchen.
The Sutton Buckhead broke ground last year, but MyAtlantaMojo could not find an estimated delivery date for the residences.
With the vast number of new apartment buildings on the rise all over Atlanta, eyes will certainly be on this project to see what might happen with other Buckhead apartment developers that have already started construction. If demand at The Sutton proves strong enough, it could convince them to convert their towers to for-sale projects.
We will be keeping an eye out for additional information such as floor plans and detailed pricing.