ATLANTA, GA — Kathy Rubenstein of Beacham & Company, REALTORS® represented the buyer on the purchase this month of an unfinished shell at The Residences at The St. Regis Atlanta that was listed for $3,850,000. The sale is the second highest condominium purchase of 2015 after another sale at the St. Regis earlier this year and the seventh highest overall for the Atlanta residential real estate market in 2015. Of the seven homes that have closed for more than $3.85 million in 2015, Beacham & Company agents were involved in four of them – two by Kathy Rubenstein.
The Residences at The St. Regis Atlanta are 53 private residences of which 10 remain, set atop the award-winning St. Regis Atlanta Hotel. Comprised of two to five bedroom homes, the Residences provide commanding views of Buckhead or downtown Atlanta and combine the finest in design and appointment with the modern luxuries and services of The St. Regis. The unit sold last month does not come with any details because it will be finished to the new owner’s tastes, but it is a corner unit as are all St. Regis Atlanta condominiums and comes with two parking spaces and a private elevator.
Sales of luxury residential properties in 2015 are more than double compared to 2014. The number of homes sold for more than $3 million this year is 19 compared to just seven through the first seven months of 2014. One of the significant differences between this year and last is the decline in the average sales price of homes sold for more than $3 million. The average sales price of homes sold for more than $3 million in 2014 was $4,323,286. This year, the average is $3,804,952, or a difference of 12%. As it did last year, Buckhead leads the way with 16 of the 19 sales this year.
About Beacham & Company, REALTORS®
Beacham & Company, REALTORS® is an independent, locally-owned, full service residential real estate brokerage firm that specializes in Atlanta luxury real estate. Since its inception in 2006, Beacham & Company has the top producing agents in Atlanta by dollar volume of real estate sold and the highest average sales price of any firm in Atlanta. The firm is located in the heart of Buckhead at One Buckhead Plaza next to the St. Regis Hotel and across the street from Buckhead Atlanta shopping district. The firm has more than 90 full-time licensed sales associates.