Mansion Global

Buckhead Offers Large Estates, Great Shopping and Easy Access to Downtown Atlanta

For those looking for privacy and a less urban feel, this neighborhood delivers

Save

A six-bedroom, Tudor-style mansion in Buckhead, Atlanta is on the market for $6.5 million

ATLANTA FINE HOMES SOTHEBY'S INTERNATIONAL REALTY
A six-bedroom, Tudor-style mansion in Buckhead, Atlanta is on the market for $6.5 million
ATLANTA FINE HOMES SOTHEBY'S INTERNATIONAL REALTY

Buckhead, also known as "Beverly Hills of the South," is home to grand estates, rolling hills and some of the wealthier ZIP Codes in the U.S.

The original 203-acre community in downtown Atlanta, founded in 1838, has a history as rich as its residents. A man named Henry Irby bought the land where Peachtree, Roswell and West Paces Ferry Roads meet for $650. Not surprisingly, he christened it Irbyville.

As legend has it, sometime after that, Irby shot and killed a large buck and put the deer’s head on display in the town’s market. When enough people started saying, "Let’s meet by the buck’s head," Irbyville became Buckhead.

More:Ben Affleck Lists Private Georgia Compound for $8.9 Million

By the late 1800s, Buckhead had become a vacation spot for well-heeled Atlanta residents. Their country estates gave way to the iconic mansions of the 1930s that have become synonymous with the chic neighborhood.

The community fortunes (and boundaries) expanded, and today Buckhead is not only the third-largest business district in Atlanta but also a major commercial and financial center of the Southeast.

Boundaries

The northern fifth of the city, Buckhead is made up of 43 neighborhoods, with the core nestled in the V formed by the southern split of Interstate 75 on the west and Interstate 85 on the east. As the V opens northward, the community’s western boundary is just west of I-75, the northern boundary is just north of the Mt. Paran neighborhood, by Mt. Paran Road, and south of I-285, and the western boundary is just west of I-400, where the city of Brookhaven begins.

Price Range

Home prices typically start at $500,000, said Kyle Baumann of Beacham & Co. He added that of the 480 houses sold so far in 2018, the median price was $866,000 and the average was $1.102 million. Their build dates ranged from 1910 to 2018.

"The conventional wisdom is that Buckhead dirt is worth $1 million an acre," said Travis Reed of Harry Norman Realtors.

Mr. Reed said that typically buyers break the million-dollar point.

More:Atlanta’s Luxury Buyers Want Simpler Elegance, Broker Says

"An old estate that’s a fixer-upper that has to be totally renovated would go for $1.6 million or on a bad lot, $1.3 million," he said. "If you had $2.5 million or more, you could get a house that’s less than 5,000 square feet with a swimming pool and excellent private schools."

Houses in the sweet-spot $3.3 million range, he said, are hard to come by. "There are more buyers than stock," he said.

Although entertainer Tyler Perry’s former home in the Paces neighborhood is currently listed for $25 million, Mr. Reed said that there’s never been a sale that high in the neighborhood. The estate is atypical—it’s on 17 acres and has a slew of amenities, including two helicopter pads.

A library in the hilltop mansion built by director-actor Tyler Perry, currently on the market for $25 million.

ATLANTA FINE HOMES SOTHEBY’S INTERNATIONAL REALTY

"I had one home listed for $25 million, but it didn’t sell," he said. "The closest we have come is $17.5 million, which is what the Tyler Perry home originally sold for in the summer of 2016. I had an $8-million-dollar sale last year, my highest."

Of the 395 attached condo/townhouse sales so far in 2018, according to Mr. Baumann, the average price was $323,000, the median was $233,000 and the maximum was $3.7 million.

"There is a broad range and price at the high end," Mr. Reed said. "We were shocked when we hit $600 to $700 per square foot. The condos in the St. Regis hotel are the pinnacle—$1,000 per square foot. There’s one currently listed for $3 million; they are all resales."

More:Atlanta Home Touted for Its Unusual Security Features is Listed for $14.7M

Housing Stock

The grand old estates, erected in the 1930s, traditionally have defined Buckhead, but there are a variety of newer homes in different styles from different decades that buyers find appealing.

"We have a little bit of everything," Mr. Baumann said.

A couple of current listings highlight the diversity: Spotswood Hall, a 1913 neo-classical revival mansion that looks like a set from Gone With the Wind, is listed at $3.995 million, while a newer Southern-style mansion, built a decade ago, is listed for $3.5 million.

"There still is very little contemporary housing," Mr. Reed said. "There are only two co-op buildings, and the super-luxe condos are those in the St. Regis and the Mandarin Oriental."

He said that the "massive" houses of the 1980s and 1990s are difficult to sell. "They are 14,000, 15,000, 16,000 square feet," he said. "Today’s buyers have higher expectations than those of even 10 years ago; they want high finish levels but not so much space."

What Makes it Unique

"You don’t have to live downtown to have quick access to the city and all its amenities; you can get to sporting events, art shows, theatrical productions, cultural events, restaurants and luxury shopping in fifteen minutes," Mr. Baumann said. "Buckhead is not quite the country, but it does give you that kind of privacy."

Mr. Reed said the neighborhood’s old-world beauty is its prime attraction. "The azaleas, rhododendrons and dogwood trees were planted in the 1930s," he said. "We’re at the tail end of the Appalachians, and it’s pretty hilly and it rains all the time, so everything’s lush."

More:Click to see more luxury properties for sale in Buckhead, Atlanta

Luxury Amenities

Buckhead has a vibrant, upscale shopping district concentrated at Lenox, Peachtree and Piedmont Roads. In addition to the regional malls Lenox Square and Phipps Plaza, there’s The Shops Buckhead Atlanta. Covering six city blocks, it features over 60 designer stores, including Dior and Tom Ford, and upscale restaurants and bars like Fadó Irish Pub, The Southern Gentleman, Georgetown Cupcake and Le Bilboquet.

The Sovereign condominium building in the heart of the Buckhead area in Atlanta, Georgia

Shermanbox / Wikipedia

The public school system is bolstered by a bevy of private institutions, notably The Westminster School, The Lovett School and Pace Academy, that enroll students from kindergarten through 12th grade.

"They are top-notch," Mr. Reed said, "and they drive the housing market."

From Penta:What to Do With Excess Cash

Buckhead also is a center for health care: Piedmont Hospital and Shepherd Center, which specializes in spinal cord and brain injuries, are sited next to each other on Peachtree Road on what has been dubbed "Cardiac Hill."

And the parks, Mr. Baumann said, are unparalleled. "Every neighborhood has some kind of park, from a neighborhood swimming pool and baseball fields to horseback-riding facilities," he said, adding that with 43 neighborhoods, the numbers really add up. "At Chastain Park, the city’s largest, there’s an amphitheater for productions and picnic tables so you can bring a picnic dinner and wine."

Who Lives There

Buckhead is synonymous with old money because of the city’s heritage corporations, notably Cox Communications, Coca-Cola and Delta Air Lines, but it’s also becoming a younger city.

"Atlanta is business-oriented, and lots of executives are moving here," Mr. Reed said. "The grand old estates need work, so they tend to buy something newer."

Mr. Baumann pointed out that Buckhead is attracting a younger generation of first-time buyers who are well-educated, well-heeled and career driven.

Notable Residents

The names are not as famous as the companies they are associated with, but Buckhead is home to a veritable who’s who of millionaire and billionaire businessmen and women: Brothers Gary and Randall Rollins, owners of Orkin pest control; Arthur Blank, owner of the Atlanta Falcons; Sara Blakely, founder of Spanx; and Anne Cox Chambers, the director of Cox Enterprises, are established residents.

More:Click for more profiles of high-end neighborhoods around the world

Outlook

The low inventory of housing stock and high demand are creating a dynamic market.

"Many homes sell quickly," Mr. Baumann said. "I am getting multiple offers in every price category, and the buyers in the $2 million to $4 million range tend to be young—36 to 50 years old."

Mr. Reed, too, sees a bright future for Buckhead. "The market is "super strong, especially in the upper bracket," he said.

"If Amazon does decide to build its second headquarters in Atlanta, there will be a major surge. But even without Amazon, Home Depot is expanding, so there will be a ton of heavy-duty corporate buyers."

Article Continues After Advertisement