A sales push is underway to move the final six units at one of the few Atlanta buildings to sprout with nothing but for-sale condos over the past decade.
A year after Graydon Buckhead had finished construction and closings began for individual units, the Ansley Real Estate sales team reports that 39 of the building’s 45 condos have sold. Sounds impressive, at face value.
But that means since last August—or nearly seven months ago—just two Graydon condos have traded.
Is that indicative of the housing market’s general cooling in 2022? Or rising interest rates (for Graydon buyers who weren’t paying cash)? Could it be oversupply, with new and resale options at The Charles in Buckhead Village still active, and large, million-dollar condos at the Seven88 West Midtown building still on the market? A sudden fear of heights?
In any case, Graydon’s sellers have planned a VIP tour for Thursday afternoon of the remaining six condos, which they say now start around $1.9 million.
Graydon Buckhead/Ansley Real Estate; via YouTube
Located at 2520 Peachtree Road, the 45-unit Graydon building is described as a fully staffed, luxury Buckhead high-rise with top-flight finishes and amenities befitting resorts.
Designed to evoke “a more elegant age” for buyers willing to pay the price, the restrained, classic Graydon topped out its 22 stories in January 2021—months ahead of schedule. The least expensive condos offered were priced around $1.7 million (but sold for less), and move-ins began last spring.
The Graydon building marked the first project outside Florida for Kolter Urban, a division of Palm Beach County-based Kolter Group, which is going vertical on another luxury condo stack, The Dillon, across the street. The company had bought the 1.8-acre Graydon site in 2019 for $13.5 million, banking on pent-up demand for deluxe multifamily options with views over Atlanta’s urban forest and cityscape.
Southward views from The Graydon toward Midtown and downtown. TheGraydon.com
What resulted is one of Atlanta’s largest condo ventures to rise since the Great Recession, where homes are marketed as being exceptionally spacious and amenities designed “to make every day feel like a vacation,” per sellers. (The project’s name pays homage to prominent Buckhead landowner Wesley Grey Collier, whose home was located in the area, also on the west side of Peachtree, just south of Muscogee Avenue.)
Sales records indicate The Graydon has been closing units since early March 2022—with prices ranging from $1.59 million to more than $8.2 million for the Big Cheese Graydon residence known as “The Estate” plan. That 5,850-square-foot penthouse is spread across the full 22nd floor, with another nearly 3,000 square feet of terraces crowning the building. It traded in April.
Remaining condos listed today with Ansley Real Estate are priced from $1.93 million (two bedrooms and three bathrooms in 2,528 square feet) up to $2.56 million (two bedrooms and three bathrooms in 2,560 square feet) on the 12th floor.
Find highlights of the Graydon building, as collected from a video tour last summer, in the gallery above.
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