Bob Vail Of Kolter Urban Purchases 4.7 Acre Development Site For $38 Million In Atlanta
102 West Paces Ferry Road Northwest
$38,000,000
Units
196
Asset Type
Land
Closing
Mar 28, 2025
About this deal
AI
The property asset involved in the transaction is a 4.7-acre development site located at 102 West Paces Ferry Road Northwest in Atlanta, GA. The site was sold for $38,000,000 and is intended for the development of a luxury condo tower comprising 196 units, named Elyse Buckhead, situated next to the St. Regis Atlanta.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $38,000,000
- Buyer: Bob Vail - Kolter Urban
- Seller: 102 West Paces Ferry Road LLC
- Date of Sale: 03/28/2025
This transaction involved Bob Vail representing Kolter Urban as the buyer, while the seller was 102 West Paces Ferry Road LLC. The development is poised to enhance the existing landscape of Buckhead, Atlanta.
On the Map
$38,000,000
Land
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93