tlanta’s condominium market was so hot a few years ago, an entire building would presell in a matter of weeks.
Element at Atlantic Station in Midtown was one of those must-have properties. Its 322 units were all under contract months before the building opened.
Even a fire that destroyed the partially built project in July 2005 failed to dim Element’s appeal. Just one contract was canceled, and Element was rebuilt.
But those supposed sales were a mirage. Half of Element’s buyers abandoned their contracts, and today the developer, the Lane Co., still owns 35 percent of the units.
Now Lane wants to shed a bunch of those Element homes all at one time. Boston-based Accelerated Marketing Partners will auction 40 units Feb. 28 at the W Atlanta downtown.
Deep discounts on Condos at Atlantic Station at auction.