Historic Possibilities: Can Fresh Photos, Price Chop Finally Sell Famed 'Pink Palace'?

Curbed Atlanta

Calling all barons and Biebers: One of Atlanta's most treasured addresses, once listed as high as $20 million, has been price-chopped down to a relative bargain at $6.5 million. But will dazzling new photos and a cheaper relisting finally sell the Pink Palace? Time will tell. Look beyond the baroque wallpaper and offensively floral drapery, and you'll see a rather incredible property here, which looks far more livable than other Buckhead temples of gaud ridiculed on these pages. Quick history: Back in 1926, famed Atlanta architects Neel Reid, Hal Hentz and Philip Schutze built this 16,000-square-foot compound on 3.5 lovely acres, modeling it after the Italian Baroque style of an 18th-century Venetian chapel. The home's stucco color earned its nickname. Over the decades, the Pink Palace fell into disrepair, until a couple from the Republic of Georgia scooped it up for $3.6 million in 2004 and undertook a massive renovation; rooms and hallways were extended, and they dug 27 wells for a geothermal heating and cooling system. Once the project wrapped, the house listed for $20 million. Then the sellers chopped that number in half, and the icon has gotten slowly cheaper since. Highlights include two rooftops terraces, the modern-style attic apartment and a master closet that gives Phipps Plaza retailers a run for their money. You buying yet?
· 541 W. Paces Ferry Road [Estately]

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