Icon in the Gulch 2010 Condo Sales Recap

Luxury Condos for Sale in Nashville Despite a sluggish national real estate economy, the Icon in the Gulch continued to outpace all other condo developments in Nashville by closing 75 condos during 2010. Selling 1.44 condos a week may not sound impressive, but trust me, it’s a little like Vince Young throwing for 350 yards against the Patriots in December. The Icon still has more than 130 developer owned condos remaining in inventory representing 2 years of remaining product, but considering the building contains 419 total condos, the light is clearly visible at the end of the tunnel.

Average Condo Price Climbing at the Icon

Many did not believe me earlier in the year when I spoke of rising prices in downtown condo developments, but now the end of year proves my calculations. In 2010, the Icon achieved an average price per foot of $307.18 compared to $296.13 in 2009, a 3.6% increase. This year also saw two of the highest price per foot transactions in the building’s history: condo #2101 sold on July 6 for $479.62/ft and condo #2111 sold on August 30 for $433.76/ft. Neither of these transactions occurred on the penthouse floor, but both condos were on the downtown side of the Icon’s tower.

2010 Icon in the Gulch Sales

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icon in the gluch 2010 condo closings

View all condos for sale in the Icon in the Gulch

    Grant Hammond

    Grant Hammond is a Nashville real estate broker at Compass RE, Broker, ABR, SFR, ePRO, with 25 years of experience and over $1 billion in career sales across three practice areas: approximately $200M in luxury home sales above $1.5M (100 transactions), 350+ downtown Nashville high-rise condominium transactions, and 550+ Airbnb and short-term rental transactions in Davidson County. He has received the Greater Nashville REALTORS Diamond Elite Award of Excellence 9 times and personally owns more than 20 non-owner-occupied short-term rental townhomes within three miles of downtown Nashville. He co-founded Summit Property Management in 2008, scaled it to over 350 units, and sold the company in 2013. His market analysis has been cited by the Wall Street Journal, the Los Angeles Times, The Tennessean, and the Nashville Business Journal. He holds Tennessee Broker License #261980.

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