|Price: 595,000,000 Yen (Incl. tax)
*Approx. 5.05 million USD
A spacious 3-Bedroom penthouse apartment in the recently completed Park Mansion Akasaka Hikawazaka condominium is up for re-sale.
Park Mansion Akasaka Hikawazaka was developed by Mitsui Fudosan Residential and completed in October 2014. The ‘Park Mansion’ series of apartments is the most prestigious brand on offer by Mitsui and is considered one of the top brands in Japan. There are just 36 apartments in the 13 storey building, and all apartments had sold out by the developer 8 months prior to completion.
The 168.63 sqm (1,814 sqft) apartment is one of just two apartments on the top floor of the building. The south-east and north-east facing corner unit has open views over the greenery of the housing compound of the US Embassy and out towards Ark Hills, the Ana Inter-Continental Hotel and Izumi Garden Tower. It has never been lived in and is in as-new condition. Read More
Is this the biggest 1-bedroom apartment in the world? It almost certainly is the largest one-bedroom in Japan, and at 700sqm+ it is Japan’s 2nd largest apartment.
Sadly, this penthouse atop Brillia Mare Ariake remains unsold despite a recent drop in the asking price from 1.05 billion to 600 million Yen (7.6 million USD). Not even Madonna’s advertising campaign for the building was enough to secure a sale (see Youtube ads here and here).
After a 43% price reduction, the new price works out to 840,000 Yen/sqm.
Normal, non-penthouse apartments in this building were priced at 750,000 Yen/sqm when listed off-the-plan in 2007. Prices increased to 825,000 Yen/sqm by 2010~2011, but they have taken tumble since the Tohoku disaster which highlighted the risk of living on man-made islands, and are now around 728,000 Yen/sqm (850 USD/sqft). This represents a fall of 3% since new. Average rents have also fallen by approximately 9.7% in the past 2 years. Read More
The floorplan for the 1.8 billion Yen (since reduced to 1.5 billion Yen) penthouse in The House Minamiazabu has just been made public. This apartment recently made headlines in foreign media through a PR-blitz announcing it as the ‘most expensive 1-Bedroom apartment in the world’. Read More
The asking price for the full-floor penthouse at the top of Foretseine Akasaka Hikawacho has been reduced from a staggering 1.205 billion Yen to a still staggering price of 820 million Yen (10.6 million USD). This is a discount of 385 million Yen (5 million USD), or just over 30%. Read More