Leasehold condos planned next to historic building in Tokyo

On June 30, sales began in a leasehold condominium located in Tokyo’s Jimbocho district. The 14-story building is next-door to the Toho Gakkai Institute of Eastern Culture. This modernist building was built in 1926 and is recognized by Chiyoda Ward as an important property for the district’s landscape design.

Le Jade Cross Chiyoda Jimbocho is located behind the historic building and the lower floors will include a matching facade and an arched entrance. Office space will be located on the 2nd and 3rd floors, with 50 apartments above. The office and residences will have separate elevators. 

The first round of sales saw 21 apartments on offer ranging in size from 40 ~ 86 sqm (430 ~ 925 sq.ft), and priced from 57.3 ~ 137.3 million Yen (approx. US$424,000 ~ 1,018,000). The largest apartment in the building is 136 sqm and has 4-meter high ceilings.

Construction is due for completion by August 2023 with apartments ready to move into from late September 2023 onwards. 

This is a leasehold condominium with the land leased under a 73-year fixed-term ending in May 2095, with no lease renewal. The building must be demolished prior to the end of the lease. Apartment owners must pay monthly land rent and building demolition preparation fees in addition to other monthly building fees.

Location

Nishikanda 2 Chome, Chiyoda, Tokyo

Source: R.E.port, June 30, 2022.

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