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Buckhead reporter.
February 02, 2020
Image 18
Buckhead reporter., February 02, 2020, Image 18
About Buckhead reporter. (Sandy Springs, GA) 2007-current | View Entire Issue (Feb. 2, 2020)
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Newspaper Page Text
BH
18 | Community
Facebook.com/TheReporterNewspapers ■ twitter.com/Reporter_News
41-unit condo building sells for $8.4M; may become luxury rentals
A 41-unit Buckhead condominium
building has sold for $8.4 million and
will soon be empty of owners and ten
ants, likely for renovation into luxury
apartments, according to the real estate
agent who brokered the sale.
The sale of the House at Phipps Con
dominiums at 3645 Peachtree Road
closed on Dec. 20, according to broker
Steve Massell of Massell Commercial
Real Estate. The buyer is Global Liberty
Investment, LLC, which is registered to
Amin Alibhai at a Sandy Springs house.
Alibhai could not be reached for com
ment.
“The property was 100% occupied at
time of sale, but all owners will vacate
and the new owner will likely renovate
to luxury multi-family residential,” said
a press release from Massell’s firm. In a
phone interview, Massell said some of the units were rented to tenants.
Massell worked for four years on the complex deal to get all of the condo owners
to sell, but originally had an even bigger pitch. In 2016, he marketed the House at
Phipps as a package along with two adjacent properties at the southeast corner of
SPECIAL
The House at Phipps condominium building at 3645 Peachtree Road
as seen in a Google Maps photo at the time it was for sale.
BY JOHN RUCH
johnruch(a)reporternewspapers.net
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