Rhythm at Music Row 2010 Condo Sales Recap

Penthouses for Sale in Brentwood While it may seem that the Rhythm at Music Row flies under the proverbial radar, the developer has quietly sold 55% of the project’s 105 residential condos. Feeding off the popularity of the Gulch, the Rhythm sold 26 developer owned condos in 2010 compared with 32 in 2009. This leaves the project with 47 units left to sell, a manageable number that will most likely fully absorb over the next 24 months. It also seems likely that preferred condo financing may become available for this project in 2011.

Year Over Year Condo Prices Fall in Rhythm

The average price of the Rhythm condos fell to $272.00/ft in 2010, down from $365.17 in 2009. On the surface, this is a 24.5% drop in price, but consider that nearly all of the penthouse sales occurred in 2009 with an average price per foot that exceeds $500/ft. I suspect that 2011 and 2012 should bring prices very similar to those posted in 2010.

2010 Rhythm Nashville Condo Sales

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rhythm condo sales 2010

View all condos for sale in the Rhythm at Music Row

    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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