Got Millions to Spare? Midtown Block for Sale

A 2.5-acre commercial site in Midtown is going to the highest bidder.

The land -- bounded by Juniper Street and North, Piedmont and Ponce de Leon avenues -- has gone into foreclosure and now is being offered for short sale, according to a listing from Bull Realty. The land is approved for 1.4 million square feet of mixed-use or commercial development, says the commercial real estate group. 

The property currently houses three buildings, which total 75,000 square feet. One of the buildings is vacant but the other two house places such as Midtown Urology Center and Wellbeings Occupational Healthcare.  

The property for sale does not include St. Paul's Presbyterian Church, which sits at the corner of Ponce de Leon and Piedmont avenues. 

According to Bull Realty, the land was appraised for $28 million in 2008. The current loan balance is $11 million.

"The property is offered un‐priced, with the lender expecting to accept a short‐sale offer for less than the loan balance and for a quick, clean closing," says the listing. 

People have until June 3 to make an offer. 

A development called "The Fountains at Ponce" previously proposed a medical office tower, two hotels, a spa and roof-top restaurants for the site. Watch a video about that development here.