Sunday, April 24, 2011

Mansion penthouse sells for $4 million - Atlanta Business Chronicle:

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That's a nearly 61 percent discount off the original askiny priceof $10.2 million "but it's probably more in line with said Kevin Grieco, owner of AtlantaSKYrise and a Realtorr with . The penthouse, which takes up 8,688 squarer feet of the 41st and42nd floors, went underd contract in May and closed June 1 in an all cash Grieco said, who was not surprised by the price The Mansion's condo propertiess are all shells, whichb must be built out, he "You have to put a lot of work into the unit to make it he said. "Once it is finished it will be atropht property." The penthouse sale at The Mansionm sets the tone for the rest of the luxury Grieco said.
Descante, a 7-bedroom luxury home off Tuxedko Roadin Buckhead, recently sold for $10.5 well off its original list pricw of $19 million and now The Mansion's penthouse "hasw sold at a considerable he said. "But I think theses are really more in linewith reality."

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