News
SELL OUTS
November 9, 2010
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| Well, here's some news we haven't heard around these parts in a long time: A condo project has completely sold out. Urban Realty Partners has sold the remaining 59 units of the 130-unit The Reynolds at 565 Peachtree St. in Midtown. Of course that push came with a price. The Marketing Directors—the firm tapped to market and sell the units—created a promotional program where buyers offered their own terms for units, an unofficial auction, says The Marketing Directors' David Tufts. Before the 2008 mortgage meltdown, The Reynolds was selling units between $230K and $800K. To price on the remaining units? Between $114K and $300K, according to real estate consulting firm Haddow & Co. |
