Historic Buckhead Apartments in Line for Renovation

An over 50-year-old apartment complex in Buckhead is under new management and is slated to receive a new look and a new name.

The former “The Metropolitan at Buckhead” complex was purchased for $53.5 million by Elite Street Capital of Houston, BuckheadView reports. The group plans to rebrand the complex as “32 Hundred Lenox” and plans renovations and new amenities that will boost the rent up to $1,400 a month.

Bisnow reported in May that The Metropolitan At Buckhead had been listed by ARA Newmark on behalf of Aslan Realty Group. Aslan bought the 1961 vintage apartment complex in 2007 for $41.7 million and wanted to get in excess of $50 million in a sale, Bisnow said.

ARA Newmark’s Dan Phelan told Bisnow that potential new owners could demolish some of the existing structures to build a new mid-rise complex, and stated that the market for the area will only increase as plans for the redevelopment of the Lenox MARTA Station come closer to fruition.

In May, The Metropolitan At Buckhead website described the complex as:

The Metropolitan at Buckhead Apartment Homes is where you will discover convenience, superior location and modern style. The Metropolitan at Buckhead Apartment Homes offers 17 distinctive apartment homes, including one, two, and three bedroom floor plans. Our apartment homes offer newly renovated interiors, spacious living areas for entertaining, private patios and balconies for relaxation and more. Located in Atlanta’s desirable Buckhead area, The Metropolitan at Buckhead Apartment Homes is within walking distance to Lenox Square, Phipps Plaza, the Lenox MARTA station and restaurant and entertainment venues.