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Atlanta's 'Pink Palace' Hits the Market for a Low, Low $7M

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Location: Atlanta, Ga.
Price: $7,000,000
The Skinny: Sitting on 3.5 acres in the Buckhead district, this 16,000-square-foot mansion was built in 1926 by famed Atlanta architects Neel Reid, Hal Hentz, and Philip Schutze. Designed in the Italian Baroque style of an 18th-century Venetian chapel, it earned the nickname the Pink Palace due to its stucco color. After eventually falling into a state of disrepair, the house was purchased in 2004 for $3.6M by a couple from the Republic of Georgia, who began an extensive renovation, combining the original details—such as a French mid-18th-century tapestry depicting a hunting scene lining the walls of the dining room—with modern touches, expanding some of the rooms and hallways, and digging 27 wells for a geothermal heating and cooling system. After completing the project, they re-listed the house for $20M, then chopped the price in half. Now, after another re-listing and PriceChop, the iconic Atlanta palace is asking a mere $7M.

· 541 W Paces Ferry Rd NW, Atlanta, GA 30305 [Zillow]
· 541 W Paces Ferry Rd Nw [Realtor]
· Buckhead's Famed 'Pink Palace' Hits Market For $7M [Curbed Atlanta]
· Pink Palace restored to former glory [ajchomefinder]