BUCKHEAD | Open House: Derek Lowe's estate | News
ATLANTA (WXIA) -- While Atlanta's real estate market continues to struggle with prices off 30 percent from highs of early 2007, one segment may be on the rebound -- luxury.
Our new series, "Open House," takes you on a tour of a premiere estate that former Atlanta Braves pitcher Derek Lowe wants to sell.
"We've got it priced for $3.5 million," said real estate agent Bonneau Ansley III. "And for that, you get an Atlanta masterpiece."
That masterpiece is a French provincial home on Peachtree Battle Avenue in Buckhead.
Lowe, who has been traded to the Cleveland Indians, bought the home as he was making Georgia his home.
"It took about a year and a half to build," Ansley said. "And it was finished right ahead of the 2009 season."
In the foyer, you won't find a gigantic crystal chandelier. Instead, your eyes are directed outside.
"It's a salt water pool, heated," Ansley said.
The nearly 7,700 square foot home - including the finished basement - sits on just shy of three quarters of an acre. Despite seismic changes in real estate since 2008, it's still location, location, location.
"Buckhead probably commands the highest price per square foot but this home in Alpharetta or Vinings, with its level of detail and sophistication, would probably sell for pretty close to what it's selling for in Buckhead," he said.
The home's kitchen is bright and open. Hidden in the cabinetry are two sub-zero refrigerators.
Off the living room is a study. In a quiet corner, you will find the master-on-main and the master bath.
Upstairs, one of two laundry rooms, three bedrooms and a common area for the kids. But guys might prefer the basement.
"It's the best man cave anyone can have," Ansley said.
In the daylight basement, there are multiple TVs, a bar and a wine cellar with reds and whites from around the world. Also in the coveted man cave, a cigar room with a humidor and ventilation system.
Another spot for entertaining -- a garage that transforms into a dance floor. The disco ball itself, circa 1960, is from a Parisian ballroom.
Lowe has more than $4 million invested into this estate and all of its features. At $3.5 million, Ansley says, the house is a bargain.
Ansley has 11 years experience selling real estate in Georgia. Currently with Harry Norman, Ansley says he's expecting 2012 to be a banner year for metro-Atlanta property priced at, or above, one million dollars. He cites an inventory of luxury homes at a 12-year low and a market that seems to be picking up.
Tonight's tour took you inside a state-of-the-art estate. Wednesday, we'll tour a mansion for historians.
On the market for $2.9 million, this home was designed to look 300 years old when it was built in 1923. Atlanta's top architects of the 20s are behind what is affectionately known as Buckhead's "The Pink Castle."
We'll take you on a tour and back in time, Wednesday night on the Rundown at 10 p.m.