The Atlanta Braves are looking to sell the trio of apartment buildings that sit yards away from its new ballpark.
The communities — named Residences, Parkside and Flats — are known collectively as “Home at The Battery Atlanta.”
The team said in a statement that it listed the more than 530 residences for sale earlier this week.
“The sale of the apartments has always been part of our overall strategy even before we began construction of The Battery Atlanta,” the statement read.
Pollack Shores, the developer, expects the sale to fetch up to $170 million, or $320,000 per unit.
A prominent real estate analyst said that was unlikely, but added, “Logic doesn’t run in this market.”
Alan Wexler, the CEO of Databank Atlanta, said if the Braves were able to get $250,000 per unit, it would be “by far” the most expensive deal of its kind in recent memory in Cobb.
“This market is so hot, it is possible that they could get that and more,” Wexler said. “But the probable bet would be it would be somewhat below that.”
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Credit: Steve Schaefer
Credit: Steve Schaefer
The Braves increased revenue by $124 million in 2017, its first year in the stadium, which amounts to a 47 percent jump.
Team owner Liberty Media recently said that The Battery provided a new revenue stream for the team, which had its attendance increase by 23 percent.
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Hundreds call The Battery home for rents that range from about $1,200 to $3,800 a month.
Alex Neale is one of them.
Neale has been living happily in The Battery for almost a year and recently renewed his lease after his rent went down by more than $100.
“It’s great, especially with all the new restaurants and shops opening up,” said Neale.
He said noise and traffic have not been problems for him, although it’s sometimes a “hassle” to leave home by car.
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But just because you live in The Battery, doesn’t mean you can watch games for free.
The apartments were built to block views onto the field, Pollack Shores' vice president of development has previously said.
Pollack Shores, the real estate group behind the homes, gave the AJC a tour of the apartments in February 2017 while they were under construction.
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As for the breakdown between buildings, Pollack Shores, gave the follow details:
• Residences has 81 apartments, geared toward business executives, overlooking The Battery’s epicenter costing between $1,855 and $3,830 per month.
• Parkside has 211 homes on The Battery’s main street adjacent to SunTrust Park’s central plaza with rents between $1,225 and $4,305 a month.
• Flats has 239 homes in the shopping district of The Battery, with renters paying $1,355 to $3,030 a month.
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