New apartment developments around Tokyo Sky Tree

The area surrounding the new Tokyo Sky Tree in Sumida-ku is seeing more and more new condominiums hit the market. Developers are promoting properties that are within walking distance to, or have views of the new tower.

In July, Sumitomo Corporation began selling apartments in “City House Narihirabashi Station Court” which is just a 4 minute walk to Sky Tree. The price of a 2-bedroom apartment in this building is around 40 million Yen (512,000 USD) which is comparatively higher than surrounding buildings. Although only a portion of the 35 apartments have views of the Sky Tree, most of the apartments offered for sale in the initial sales period have been sold.  Sumitomo’s PR department said that the new retail development around the base of the Sky Tree will add to the convenience of the neighborhood, as will gradual improvements to the surrounding streets. Buyers are anticipating that the neighborhood’s image will improve over time.

Sumitomo, along with Marubeni and Daikyo, are also constructing a 279-unit condominium near Kinshicho Station, just 1.5 kilometers from the Sky Tree. A 2-bedroom apartment in “The Gran Alt Kinshicho” starts from 34.9 million Yen (447,000 USD).

Yokohama-based Nice Real Estate are currently constructing a 9-storey, 73-unit condominium called “Nice Brightpia Kitasenju” which is 4 kilometers from the Sky Tree. All of the 33 apartments listed for sale in the first sales period were sold out. The developer said they had interest from a wide age group.

Polus Group, a Saitama-based developer, is currently building 6 houses within 1 kilometer of the tower. Two of the 2-storey homes will have views of the Sky Tree from their rooftop terraces. The other four houses will have 3 stories and will have views of the tower from their balconies. The 90 sqm (970 sqft) homes are priced between 50 ~ 60 million Yen (640 ~ 770,000 USD). Sales began in August, and four of the homes have already been sold. The same company plans to construct over 100 houses in the Sumida and Koto wards in 2012.

Chief Real Estate Analyst from Mizuho Securities, Takushi Ishizawa, said there is a possibility of more quality condominiums being built in this area from now on.

With a height of 634 meters, Tokyo Sky Tree is scheduled to open to the public in May, 2012.

New Apartments near the Tokyo Sky Tree:

City House Narihirabashi Station Court
Price Range: N/A
Size Range: 55.69 ~ 76.56 sqm
Completion: March, 2011
Construction: 13 Stories
No. of units: 35
Transport: Narihirabashi Sta. – 3 min walk


The Gran Alt Kinshicho
Price Range: 34.9 ~ 72.8 million Yen
Size Range: 55.88 ~ 81.18 sqm
Completion: December, 2012
Construction: 21 Stories
No. of units: 279
Transport: Kinshicho Sta. – 4 min walk


Initia Kinshicho
Price Range: 42.48 ~ 49.48 million Yen
Size Range: 55.01 ~ 64.96 sqm
Completion: March, 2012
Construction: 11 Stories
No. of units: 53
Transport: Kinshicho Sta. – 5 min walk


Laurel i Honjo-Azumabashi
Price Range: 34 ~ 48 million Yen
Size Range: 56.68 ~ 70.08 sqm
Completion: October, 2011
Construction: 11 Stories
No. of units: 34
Transport: Honjo-Azumabashi Sta. – 3 min walk


Park Homes Kinshicho Comfort Premier
Price Range: 44.3 ~ 51.8 million Yen
Size Range: 62.16 ~ 73.29 sqm
Completion: August, 2011
Construction: 10 Stories
No. of units: 52
Transport: Kinshicho Sta. – 8 min walk


Adel Hikifune Park View Tower
Price Range: TBA
Size Range: 53.56 ~ 80.25 sqm
Completion: August, 2012
Construction: 7 Stories
No. of units: 28
Transport: Keisei Hikifune Sta. – 4 min walk

Source:
The Nikkei Shimbun, November 2, 2011.

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