Tyler Perry’s estate at 4110 Paces Ferry Road in Atlanta has sold! This is great news after only being on the public market for a year. It is by far the most expensive home sold in Atlanta in over a year. In the past year, the second place went to 2000 Garraux Road which sold at $6M in August of 2015 , also located by the rear gate of Tyler Perry’s estate.
The home sits majestically overlooking the Chattahoochee River on 17 acres and is 35,000 sq ft. including 7 bedrooms, 11.5 bathrooms, swimming pool, lighted tennis courts, beautifully landscaped grounds, and underground ballroom. You can see it and its parking garage from across the river on Paces Ferry Drive in Vinings (across from Canoe Restaurant).
4110 Paces Ferry was quietly marketed at a higher price point prior to hitting the public market, but entered the Multiple Listing Service a year ago at $25 million. It just closed a few days ago for $17.5 million. Quite a deal for that volume of land in the most prestigious zip code in Atlanta – 30327! The land alone sold for $9M back in 2005 when Perry bought it. A two acre lot in this area is now selling for about $1.5M and a one acre lot is selling for right around a million. So this land alone could be broken up and sold for over $12M.
The publicity a home like this generates for a realtor is national and phenomenal and every real estate agent’s dream. I was able to experience that when I listed Jane Fonda’s loft back in 2004. From what I’ve heard, this sale was to an out of state buyer and I’m sure that type of publicity surrounding this listing is what helps in generating leads for buyers of this magnitude in Atlanta’s luxury real estate market.
As has been reported publicly, Tyler will be building his new home on 1,000 acres he purchased in Douglas County, Georgia, near where the Tyler Perry Studios campus is located. Congratulations to his agents Josh Reeves and Chase Mizell on a job well done.