The Schmitts and Harris, principals in locally based Condominium Ventures of America Inc., have another 100 buyers in line with reservations to purchase units priced from $90,000 to $1 million at the strategically located property at 16th and West Peachtree streets.
"Atlanta has not seen a resident program this successful in years," says William Schmitt. 1280 West offers studio units, one- and two-bedroom homes and penthouse suites. The 200 sales, which closed Jan. 27, were contracted by buyers in November 2004.
The Wells Fargo corporate office and the law firm of Weissman, Nowak, Curry & Wilco are coordinating the closings for the developers. The former Oakwood apartments structure was built in 1989 and converted to condominiums four months ago.
Condominium Ventures of America bought the property in October 2004 from Oakwood Atlanta LLC for $52,500 or about $120,968 per unit.
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