The Residences at Mandarin Oriental, Atlanta Set to End 2017 with Nearly $22 Million in Sales

12/19/17

The Residences at Mandarin Oriental, Atlanta, are set to close the year with over $16 million closed and another $6 million under contract. The development team and exclusive listing broker Karen Rodriguez, founder and president of GROUP KORA and co-founder of CITY HAUS | Berkshire Hathaway HomeServices Georgia Properties, have closed on nearly $75 million in units since taking over the project in 2014.

“With only a few homes remaining, we are incredibly proud of our unprecedented sales success over the last three years,” said Rodriguez. “Despite an influx of new luxury condo projects entering the market, The Residences have remained the top selling luxury condo building in Atlanta and we’re quickly approaching a sellout. Our success demonstrates the continued demand for high-end, intown living that comes with a lock-and-leave lifestyle and five-star amenities.”

Five homes have closed so far in 2017, including one of the villa-style Maisonettes priced over $3 million, and two condos, one of them a full-floor home at nearly $4 million, are under contract. The Residences at Mandarin Oriental, Atlanta have outpaced the luxury market, with only 14 condos over $2 million sold in Atlanta in 2017, and five of those were at The Residences.

Coming off a successful 2016 and impressive fourth quarter, the team took back four floors designated for the hotel and built out eight additional condos this year. With this final release of inventory, The Residences are rapidly approaching sellout and are left with a handful of tower residences and two multi-level, villa-style Maisonettes located in the hotel’s garden.

The Residences at Mandarin Oriental, Atlanta offer a coveted lock-and-leave lifestyle with all the privacy and security benefits of the five-star hotel, including biometric fingerprint access to homes and elevators and design features like floor-to-ceiling windows, marble finishes and catering kitchens. Buyers also have access to 24-hour Mandarin Oriental residential concierge staff providing a range of services from home care to room service. Tower residences are available in full and half floors and are customized in one of three classic styles created by Harrison Design.

For more information on The Residences at Mandarin Oriental, Atlanta, visit moresidencesatlanta.com.

About iStar

iStar (NYSE: STAR) finances, invests in and develops real estate and real estate related projects as part of its fully-integrated investment platform. Building on over two decades of experience and more than $35 billion of transactions, iStar brings uncommon capabilities and new ways of thinking to commercial real estate. The Company has invested more than $10 billion in residential real estate projects throughout the United States, including interests in over 18,000 condominium units in the nation's top markets and 65,000 acres in master-planned communities having the potential for an estimated 50,000 single family and multifamily units. Additional information on iStar is available on its website at www.istar.com.

About Mandarin Oriental Hotel Group

Mandarin Oriental Hotel Group is the award-winning owner and operator of some of the world’s most luxurious hotels, resorts and residences. Having grown from its Asian roots into a global brand, the Group now operates 29 hotels and eight residences in 19 countries and territories, with each property reflecting the Group’s oriental heritage and unique sense of place. Mandarin Oriental has a strong pipeline of hotels and residences under development, with the next hotel opening planned in Doha.

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