Area brokers tell GlobeSt.com Joe Laster, president of Abraham Properties LLC, plans to complete a $1-million renovation in March at the former Sunday school structure and sell 39 condo units of 250 sf to 3,000 sf for $60,000 to $300,000, or about $100 per sf to $240 per sf.

Brokers say Laster bought the 1924 vintage building in July of this year from the Salvation Army for $2.1 million, or about $52.50 per sf. The Army had owned the property since 1950 when it converted the school space to general office space for its Georgia headquarters.

King Plow Arts Center and several older Buckhead structures have also converted to office condos in the past two years. Laster couldn't be reached by GlobeSt.com's publication deadline to learn if he has hired a professional management company to oversee the building.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.