Condo in the wind: Elton John sells Atlanta home for above asking price

“Goodbye Peachtree Road” doesn’t have the same ring to it, but Elton John is departing from his Atlanta home after receiving a rocket of an offer.

The legendary British musician sold his condo at the Park Place on Peachtree for $7.2 million, the Wall Street Journal reported. He owned the unit for decades, but his need for it likely waned after John wrapped up his worldwide farewell tour.

It’s remarkable John is still standing after being blown away by the anonymous purchaser’s offer. John listed the unit only a few weeks ago, asking $5 million for the condo. He received a 45 percent premium on the listing price in a deal that works out to roughly $535 per square foot.

John initially purchased a 2,500-square-foot duplex in the building in 1992 before tacking on five apartments over the succeeding years. The 40-story building has 256 units in total.

The 13,500-square-foot, four-bedroom unit generated plenty of interest right away, according to the listing agent. Atlanta Fine Homes Sotheby’s International Realty’s Chase Mizell said the local buyer paid in cash. Mizell added the apartment was deliberately underpriced in the hope buyers would bid the price up.

The unit includes a gym, massage room and a unique floorplan. There are large open spaces that John used to showcase his photography collection. It’s unclear if the buyer has their own collection of art, but there’s certainly room to display it. The deal also comes with nine reserved parking spaces, six private storage units and five wine storage units.

Atlanta Fine Homes Sotheby’s International Realty’s Betsky Akers represented the buyer.

Two years ago, John and his husband David Furnish paid $8.5 million for the property adjacent to their longtime, $7.3 million home in Trousdale Estates in Beverly Hills. They bought a 20-acre estate in Bel Air for $33 million in 2015 and previously owned two condo units at the Sierra Towers in West Hollywood.

The couple also owns properties in the United Kingdom, France, and Italy.
Holden Walter-Warner

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