Posts Tagged luxury condo sold in atlanta 2012
Jane Fonda’s Intown Atlanta Loft recently sold on October 31st for $1.1 million.
I had it listed back in 2010 for $4.5 million, which is what Jane had in the property from a purchase and build out perspective. She originally purchased the loft after her divorce with Ted Turner in 2000 and if you look at the interior photos and look at what Jane was going through at that point in her life it all ties together. At the time, I had purchased her book “My Life So Far”. I was enjoying Spring Break in 2010, when I got the call to interview for the listing. When I returned to Atlanta the following week, I met with her Business Manager and Financial Manager.
Within several weeks I listed the property at $4.5M to see what appetite the market had for this 5,000 sq ft loft. The media picked up on the story quickly and we received a lot of publicity and quite good showings, but with time the location proved to be an issue for this type of luxury/high end property. We looked at auctioning the property through Sotheby’s and felt we could get her $1.5M pretty easily, but with that large of a loss it seemed prudent to rent it out for a couple years.
By Fall 2010 we offered it for rent since it became apparent that Jane would be taking a large loss either direction and rented it shortly thereafter.
The following Fall in 2011 her business manager chose another strategy by listing with a local agent that lived intown to market the property. The price steadily decreased until it sold for the $1.1M. For the amount of square footage and the spectacular skyline views, the final price was quite a deal. It was probably about 2 years to the date from the when it was rented which worked out great for her I’m sure.
I was fortunate to have met Jane when she was intown for events and fundraisers and I’m glad she’s been able to close that chapter of her life. It’s fun to follow her blog and see everything she’s gotten involved in since that time. She certainly is back in Prime Time!