On March 6th the Tokyo Police Department issued arrest warrants for Daisuke Shioda, the former president of ABC Home, and four associates for interfering with the public auction of a foreclosed property owned by ABC Home. However, Shioda has so far evaded capture and his whereabouts are unknown.
Shioda is accused of falsifying the ownership details on the real estate register of the property in order to prevent the property from selling at auction. He also lied and said that his mother and sister had 18 ~ 20 year leases on some of the floors in the building. Read More
Four apartments and the garage in Azabu Hillside Terrace are under foreclosure with court evaluations ranging from 16.85 ~ 75.24 million Yen.
There appears to be nothing out of the ordinary with these foreclosures. It seems that all of the units belong to the same person/company, and they stopped paying all building fees from the beginning of 2011. The building does not have much street appeal, but the apartments have been renovated. The rear of the property borders onto the grounds of the South Korean Embassy. Read More
Court Evaluation: 543,200,000 Yen (7.05 million USD)
*Update: The winning bid was 548,000,888 Yen. Only 1 bid was made on the property and it was by a corporate entity.*
A group of 13 apartments have been foreclosed in Gotenyama Trust Court, near Shinagawa Station. The apartments range in size from 63.24 ~ 317.24 sqm (680 ~ 3413 sqft) and the total floor size is 1,552.83 sqm (16,708 sqft). The Court’s evaluation of the value of the apartments is approximately 379,000 Yen/sqm. Read More
Court Evaluation: 364,770,000 Yen (4.73 million USD)
*Update: The winning bid was 488,800,000 Yen (6.3 million USD). A total of 16 bids were made on the property and the winning bidder was a corporate buyer. By 2013, the building had been demolished.
Christy Homes Nishiazabu is a 3-storey apartment building located right next-door to the Azabu Catholic Church in Nishiazabu 3 Chome. This apartment building looks like a high-end expat apartment building from the outside, but there are some serious flaws behind the surface which would, and mostly likely have, put off most buyers. Read More
Court Evaluation: 204,370,000 Yen
*Update: The winning bid was 236,000,000 Yen. A total of 6 bids were made on the property and the winning bidder was a corporation.
The house is also being listed by real estate agents as a short sale with an asking price of 360,000,000 Yen (4.67 million USD), but it is unlikely that it will be sold prior to public auction at that price. Read More
Classy House Oyamadai Penthouse
410,000,000 Yen (Guideline)
330.64sqm (3,559 sqft)
*Update 1: In 2011 this apartment was listed for sale (non-foreclosure listing) for 348,000,000 Yen*
*Update 2: No longer on the market*
This apartment complex is located in an elevated position in Setagaya, and is only 10 minutes by car to St. Marys International School and a 10 minute walk to Tama River.
This penthouse apartment is only 6 months old and is being foreclosed on. The property can be purchased prior to auction (current asking price is 410 million Yen), or can be purchased by placing a bid when it goes to auction in a few weeks. Read More