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  #41  
Old Posted Apr 10, 2017, 1:12 PM
smArTaLlone smArTaLlone is offline
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Nice! Yes I think the three towers is an error. I'm wondering how it gets to 690'. Isn't the Four Seasons 50 stories and its only 609'?

Last edited by smArTaLlone; Apr 10, 2017 at 5:11 PM.
     
     
  #42  
Old Posted Apr 10, 2017, 2:44 PM
Ant131531 Ant131531 is offline
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Floors could be an average of 13 feet high(high end condos have a higher floor to ceiling height than apartments). 53 x 13 = 689 feet.
     
     
  #43  
Old Posted Apr 10, 2017, 5:09 PM
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The renderings also show what appears to be about a 25' parapet wall at the top.
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  #44  
Old Posted Apr 11, 2017, 1:44 AM
Atlanta3000 Atlanta3000 is offline
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This is amazing if they have already sold 10%. Per the invitation below, the Pre-Lauch begins April 23rd. So I am not sure how these 20 people got ahead of the line.... Seems like good news to me.

     
     
  #45  
Old Posted Apr 13, 2017, 3:46 AM
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If Miami condo sales are in the crapper then why should we expect Atlanta to be different?
http://wolfstreet.com/2017/04/05/con...-to-buy-condo/
     
     
  #46  
Old Posted Apr 13, 2017, 12:03 PM
Martinman Martinman is offline
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Because the two cities have nothing in common as it relates to the condo market. Downtown Miami alone has 6,000 condos under construction. Atlanta hasn't added one thousand condos to the market in recent years let alone the tens of thousands that are in the pipeline in the Miami area.
     
     
  #47  
Old Posted Apr 13, 2017, 12:51 PM
Atlanta3000 Atlanta3000 is offline
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Originally Posted by Martinman View Post
Because the two cities have nothing in common as it relates to the condo market. Downtown Miami alone has 6,000 condos under construction. Atlanta hasn't added one thousand condos to the market in recent years let alone the tens of thousands that are in the pipeline in the Miami area.
Correct Martinman - In 2016 alone Miami had 54 condo buildings under construction. Miami real estate is driven by and large by foreign investment from both buyers and developers and are subject to the ebbs and flows of the currency markets which as been very irrational as of late. Also and most importantly, international anti-money laundering and fraud laws are cracking down on foreign inventors ability to hide money in US real estate assets (this is probably the main issue in Miami now).

Additionally, Atlanta has added more jobs and residents on a year-over-year basis compared to Miami so one would think we should have or will have the capacity to absorb more condos in our market.

Last edited by Atlanta3000; Apr 13, 2017 at 1:07 PM.
     
     
  #48  
Old Posted Apr 13, 2017, 4:53 PM
Ant131531 Ant131531 is offline
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If Miami condo sales are in the crapper then why should we expect Atlanta to be different?
http://wolfstreet.com/2017/04/05/con...-to-buy-condo/
What a dumb statement. How about checking how much condos each city has added over the last 5 years and check how much is under construction. Miami's condo market is on a downturn because they've added so much recently.

This would be Atlanta's first large condo highrise U/C since 1010 midtown.
     
     
  #49  
Old Posted Apr 13, 2017, 6:10 PM
ATLswede ATLswede is offline
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Originally Posted by Ant131531 View Post
What a dumb statement. How about checking how much condos each city has added over the last 5 years and check how much is under construction. Miami's condo market is on a downturn because they've added so much recently.

This would be Atlanta's first large condo highrise U/C since 1010 midtown.
Also, it's probably too early for this to be reflected in the current Miami condo market, but at some point even average buyers are going to realize that huge swaths of Miami's condos are going to be underwater (at least a few times a year) by the time a 30 year mortgage is paid off. And that's by extremely conservative estimates.
     
     
  #50  
Old Posted Apr 13, 2017, 8:52 PM
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If it ever comes out of the ground (5 or 6 years after original announcement?) then I'll eat my words. There's very little appetite in Atlanta for this.
     
     
  #51  
Old Posted Apr 14, 2017, 11:14 PM
RocketSurgeon RocketSurgeon is offline
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If it ever comes out of the ground (5 or 6 years after original announcement?) then I'll eat my words. There's very little appetite in Atlanta for this.
Opus is basically another Sovereign, so it's been done in Atlanta before, and we've already proven $1+ million condos are marketable in Midtown. I'll believe it when I see it, but given what we already know, I'm not nearly as pessimistic as you are. It is a big increase in ultra-high-end inventory though.
     
     
  #52  
Old Posted Apr 15, 2017, 1:02 AM
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Libertarian also said the Underground developer wouldn't get financing. Look what ended up happening. I'd take his predictions with a grain of salt.
     
     
  #53  
Old Posted Apr 15, 2017, 1:23 AM
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It's been going on 5 years for the developers of "Opus" and their other, prior names used on that site so yeah I have my doubts. The Underground redevelopment supposedly got financing, and at least it's a fresh deal, and the updated concept looks to be more in line with the actual suburban mall background of the developer, so let's see.
     
     
  #54  
Old Posted Apr 15, 2017, 7:58 PM
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It's been going on 5 years for the developers of "Opus" and their other, prior names used on that site so yeah I have my doubts. The Underground redevelopment supposedly got financing, and at least it's a fresh deal, and the updated concept looks to be more in line with the actual suburban mall background of the developer, so let's see.
Go to other cities' forums on this site and look at the threads for their major projects. Some of them have been in development for many years. Cities like New York and Chicago for which tall buildings are par for the course.
     
     
  #55  
Old Posted Apr 16, 2017, 3:38 AM
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Do you know who are the developers? Virtually everything they've done is in NY with a handful of properties in LA and SF. They know not of ATL.

Last edited by Libertarian; Apr 16, 2017 at 3:51 AM.
     
     
  #56  
Old Posted Apr 16, 2017, 3:19 PM
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What does it matter who the developer is? The point is that it is typical of large towers to take several years from initial announcement to get to the construction stage even in larger markets.
     
     
  #57  
Old Posted Apr 16, 2017, 3:28 PM
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Originally Posted by RocketSurgeon View Post
Opus is basically another Sovereign, so it's been done in Atlanta before, and we've already proven $1+ million condos are marketable in Midtown. I'll believe it when I see it, but given what we already know, I'm not nearly as pessimistic as you are. It is a big increase in ultra-high-end inventory though.
And the Mandarin and the St Regis and the Ritz Carlton residences. All have similarly priced condos and in case of the first two, the units are all north of $1 million. The developer is banking on the fact that there's a market for these kind of buyers that want a more walkable environment than what Buckhead offers.
     
     
  #58  
Old Posted Apr 17, 2017, 6:39 PM
Frankster87 Frankster87 is offline
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Originally Posted by Libertarian View Post
If it ever comes out of the ground (5 or 6 years after original announcement?) then I'll eat my words. There's very little appetite in Atlanta for this.
You make this prediction for nearly everything it seems.
     
     
  #59  
Old Posted Apr 17, 2017, 9:04 PM
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Yeah, I don't get it. The project seems to be moving forward and has some momentum behind it. Why come here and post just to be a downer about it?
     
     
  #60  
Old Posted Apr 25, 2017, 12:08 PM
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Did anyone go or know of anyone who went to the prelaunch offering?
     
     
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