I’ve been working with clients who have units under contract at The Modern Residences. The building sold out quickly after launching sales in early 2022, when mortgage rates were around 4%. Today, those rates are closer to 7%. Comparable properties closed at a median of $1,127/SF in 2022 but dropped to $1,009/SF by 2024. It will be interesting to see how resales unfold in the coming months.
If you have a contract in place or are interested in exploring opportunities at the newest Rainey Street development, let’s connect!
