One of Buckhead's trophy homes has sold for $10.5 million, the most expensive recorded residential sale in Atlanta real estate history.
The 4-acre estate at 3650 Tuxedo Road, built in 1997, was originally listed at $16.9 million, said Betsy Akers, agent for the buyer whose name she would not reveal.
"We are very excited about this sale, especially in this housing market," Akers said. "And we think, across the board, not just in the higher end of the market, that discerning buyers are feeling comfortable stepping into the marketplace."
Steve Palm, president of SmartNumbers, a real estate research firm in Marietta, said he could not find a higher sale price for a single-family home among his various databases. However, he cautioned, this sale does not mean that this house, known as Descante, is the most expensive in Atlanta. He said estate homes are often custom built on empty land. "There is no sale on the house, just the land," he said. "You never know how much they paid for the actual house."
Palm said the home, even at its original listing price of almost $17 million, was not the most expensive up for sale in the Atlanta market. An estate in Cumming, 2015 Trammell Road, has a list price of $45 million, he said.
Also for sale are three neighbors of Descante that have all seen price pruning, Akers said.
The Tuxedo Road home of Arthur Blank, who owns the Falcons, is now priced at $8.9 million, after an 18 percent cut. Across the road, Windcrofte, sometimes called the Woodruff mansion, is priced at $10.9 million, after a $3 million trim. And the new price for Rossdhu, the 91-year-old mansion at 2900 Andrews Drive, is $11.75 million, reduced 19 percent.
"This is the first time in 20 years we've had so many estate homes on the market at one time," Akers said. "And these homes were put on the market before the economic downturn, so they're not in financial distress, so none of these homes have to sell."
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