Though it’s just a few floors out of the ground, Buckhead’s next condo building notched a March that sellers are calling “outstanding”—and evidence of appetites for for-sale multifamily product in the city.
Officials with Florida-based developer Kolter Urban report the company’s 18-story luxury condo stack The Dillon Buckhead sold 10 individual units last month alone—with a value of more than $20 million. The Peachtree Road building will offer 144 condos overall, with some of Atlanta’s highest new condo prices right now.
The Dillon’s “sales velocity achieved in [the March] timeframe marks an unseen pace in Buckhead’s real estate market,” officials wrote in an email to Urbanize Atlanta, “underscoring the demand for new-construction condo inventory in the area.”
As designed by Atlanta-based The Preston Partnership, the “architecturally distinctive” project began vertical construction earlier this year in the 2500 block of Peachtree Road, next to the Peachtree Battle Promenade shopping center that’s home to Whitehall Tavern and a Publix.
Condos range from one-bedroom to three-bedroom options (1,400 to nearly 3,700 square feet), with prices starting in the mid-$800,000s. Some units under contract are listed as high as $4.2 million.
One key selling point appears to be The Dillon’s amenities, which are expected to cover more than an acre of total space, both indoors and out.
Perks call for an indoor-outdoor section called The Hub with private and semi-private workspaces for the WFH set, plus a conference room. Other amenities: concierge services, a formal clubroom with catering kitchen, a dog park, pool deck, outdoor yoga terrace, a speakeasy, a media room with a game simulator, and a pickleball court. Elsewhere, some condos will be held as guest suites.
Kolter Urban purchased the required three parcels in 2021 for $16.5 million. To the immediate south, roughly half of the historic book bindery building—formerly home to Peachtree Battle Antiques and Interiors—has been preserved, including the brick house-like structure that fronts Peachtree. The Dillon’s sales center has taken up that space.
Construction crews last summer razed the former Design Within Reach furniture store and other structures where Peachtree Road meets Terrace Drive, setting the stage for the 18-story project.
Atlanta Fine Homes Sotheby's International Realty reported in May last year—prior to most recent interest-rate spikes—The Dillon had notched a “staggering” $62 million in presales, among the strongest condo sales the local office had ever seen. Most buyers were people downsizing from larger single-family homes, sales reps said at the time.
Marketing materials have described The Dillon as “a modern take on Buckhead’s tradition of gracious living,” where “refined neoclassical lines” will blend with “industrial-chic accents” on a natural hill.
A couple of blocks up the street, Kolter Urban’s first foray into the Atlanta market—the 22-story Graydon Buckhead—has seen condo prices begin at $1.7 million and climb to nearly $9 million for a penthouse (now discounted) covering the full top floor. Like The Dillon, the 47-unit Graydon is still a relative anomaly in terms of Atlanta multifamily ventures the past decade; it marked the largest recent intown condo project between Buckhead Village’s The Charles and the 279-unit Seven88 West Midtown tower on West Marietta Street.
The construction schedule calls for The Dillon to deliver in the fourth quarter of 2024. Have a look at the latest renderings and plans in the above gallery.
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