‘Record-setting’ $6.3MM Buckhead Mansion sale: Victory or Defeat for Atlanta Real Estate?

2900 Andrews Drive sells for $6.3MM

2900 Andrews Drive sells for $6.3MM — highest ATL price tag since 2011, but 50% of its original listing price of $14.5MM in ’09.

Atlanta residential real estate analysts are popping champagne corks over the news, but is the bubbly a little stale?

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On the one hand, a record setting price is undeniably good news because it’s a symbol for the continuing progress of Atlanta’s residential real estate market rebound. But it makes us wonder: how happy could a home seller be if they got only 50 percent of their original asking price?

Rosina Seydel with Dorsey Alston is definitely in the good news camp. She sold 2900 Andrews Drive for $6.3 million, just shy of today’s asking price of $6.9 million (the Peachtree Heights West Mansion was first listed in 2009 at $14.5 million, according to Zillow).

“It is a big confident boost that the Atlanta real estate market needed,” Seydel told What Now Atlanta in a telephone interview Tuesday.

At $6.3 million, 2900 Andrews Drive is the “highest priced residential sale in Atlanta since 2011,” according to Seydel who is basing her claim off the First Multiple Listings Service (FMLS).

We say, “way to go Atlanta residential real estate!,” but keep the champagne chilled, and open up a reasonable chardonnay instead.

 

Caleb J. Spivak

Caleb J. Spivak

Caleb J. Spivak

Caleb J. Spivak

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