Authorities say the fall occurred shortly after 1:30 a.m. Wednesday at the City Heights Condominiums on Ralph McGill Boulevard.
The name of the man, a 23-year-old restaurant worker, was not immediately released.
Atlanta police Capt. Adam Lee III tells WSB-TV that a witness reported last seeing the man standing on the balcony smoking a cigarette. She later ran downstairs to find him dead in the courtyard of the complex.