Estate in Atlanta-metro area listed for record $47M 

The founder of a travel-incentives company is determined to destroy the previous sale record for a home in the Atlanta area. This isn’t his first attempt at the city’s grand transaction, though.

Media Marketing Services founder John MacDonald listed Chestnut Hall at 4665 Riverview Road in the Georgia enclave for $46.8 million, the Atlanta Business Chronicle reported. No square footage was given in the listing, but the estate in the city’s Sandy Springs section spans 18-and-a-half acres.

The residential sale price record in the Atlanta metro area belongs to one of the city’s most esteemed businesspeople: Tyler Perry. The media mogul sold an estate in April 2016 for $17.5 million, more than $7 million below its listing price.

So while a transaction at the listing price would easily set a record for the area, there’s precedent that lofty listings in Atlanta don’t always reach those heights.

MacDonald listed the property for $48 million in 2015 before retaining ownership. He purchased the property for $3.7 million in 1987, a record at the time.

The estate has a main house, a one-bedroom pool house with a kitchen and a four-bedroom guest house that could be used as a recording studio. There are landscaped gardens, a saltwater pool and a vast array of European antiques and art, furnishings that are included in the listing price. There’s also a climate-controlled wine room that could hold 1,000 bottles.

The Debbie Leonard Group’s Debbie Mayer and Eric Peterson have the listing.

The ZIP code for the estate is Atlanta’s most affluent, but Chestnut Hall exceeds the norm in Sandy Springs, a dozen miles from Downtown Atlanta. The median sales price in the area for the past year was $1.2 million. The largest sale in Atlanta this year was an $8.6 million deal for a 14-acre estate.

In March, rapper Meek Mill put his eight-bedroom, nine-and-a-half-bathroom mansion in Sandy Springs up for sale. He posted about the property on social media to expedite a sale of the home, where he says he never lived.

— Holden Walter-Warner

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