Construction has started on a new luxury apartment building in Omotesando. The Minato-ku Minami Aoyama 4 Chome Project is a 7-story residential building located across the street from the Aoyama Cemetery and next-door to Oji Green Hill Apartments.
The developer, Mitsubishi Jisho Residence, recently completed a 7-story condominium called The Parkhouse Gran Minami Aoyama just 300 meters from this current project site. The apartments went on sale in mid-2015 and sold out on the first day of sales with an average of 9.6 buyers for each apartment. Current resale prices in this building range from 2.4 ~ 3.95 million Yen per square meter (approx. 1,980 ~ 3,260 USD/sq ft). It is possible that this new project could see similar pricing.