The Adelicia has announced that it will close on the last four of its 166 units this month. According to the Nashville Business Journal, the developer (Corner Realty Partners) cut its prices 17% to 20% to sell 18 units in the first quarter of 2009. Never-the-less, this marks an impressive achievement in a difficult economy and a competitive condo marketplace.
The stylish 18 story midtown high rise began selling a couple of years ago, getting a jump on some of the other newer developments. Price points started around the three hundred thousand dollar range and quickly went up, topping out at 1.7 million. The 670 to 2000 square feet units offer standard upgrades and great views of the city.
Situated between Music Row and Vanderbilt, the Adelicia enjoys a central location in the hub of nightlife activity. It also went the extra mile with an array of amenities, such as an Olympic size rooftop pool, fitness center with personal trainer, residence lounge to meet and mingle, and 24 hour security and concierge.
In 2008, the Adelicia accounted for about half the luxury downtown condo sales. With the Adelicia officially “sold out,” it may bode well for competitors around the city. Rest assured, there are plenty of rivals ready to pick up where the Adelicia left off.
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