The sale price of $293,000 per unit is lower than what Pollack Shores, the developer, had expected, but still represents one of the most expensive recent sales in the metro area.

“It definitely is high,” said Alan Wexler, the CEO of Databank Atlanta.

Wexler said the price was justified by high rents Cortland can expect to collect, and the potential resale value of the property. But, he warned, those projections are based on assumptions made at the height of the market.

“It’s a good investment but when they have to face an economic correction they have to delay when they were going to resell it,” Wexler said.