Sales in the 1,002-unit Mita Garden Hills luxury apartment development in central Tokyo started last week with pricing looking to average around 4 million Yen/sqm (US$2,860/sq.ft).

A total of seven buildings up to 14 stories in height will be built on a 2.5-hectare site that was once home to the former art deco Ministry of Communications and Transportation Postal Life Insurance Building. Completion is scheduled for March 2025. 

Applications for the first round of sales will be open between February 3 and February 13, with lucky buyers to be selected via a lottery taking place on February 13. A total of 321 apartments will be offered for sale during this round, ranging in size from 80.03 ~ 376.50 sqm, and priced between 231 million ~ 4.5 billion Yen (approx. US$1.77 ~ 34.6 million). The majority of apartments (31 units) are priced in the 380 million Yen (US$2.9 million) range.  Of the 321 listings, 24% are two bedrooms, 76% are three bedrooms, and 0.6% are four bedrooms. The monthly building management and repair fund fees for an 80 sqm apartment will initially be 86,520 Yen. 

Pricing per square meter varies depending on apartment size, with larger units considered to be a premium in Japan and priced accordingly, and building, floor, and view. 

Apartments over 200 sqm in size have an average price of around 8,600,000 Yen/sqm (US$6,150/sq.ft), with those in the 100 ~ mid-100 sqm range having an average price of 4,225,000 Yen/sqm (US$3,020/sq.ft). Apartments in the 80 sqm range have an average price of 3,295,000 Yen/sqm (US$2,355/sq.ft). Apartments in the premium Park Mansion building have an average price of 5,000,000 Yen/sqm. 

There are also just 5 villa-style apartments with their own garden terraces in the complex, adjoining the East Hill building. These limited ground-floor apartments are priced around 6,000,000 Yen/sqm. 

The pricing of the 376.50 sqm apartment in the Park Mansion building works out to around 11.95 million Yen per square meter (US$8,535/sq.ft), which would make it the third most expensive apartment to go on sale in Japan in recent years. Penthouse pricing on luxury developments in central Tokyo typically ranges from 10 ~ 15 million Yen per square meter (US$7,100 ~ 10,700/sq.ft). This penthouse is not the only apartment on the top floor of the Park Mansion building. It comes with several roof terraces totalling 118 sqm, and ceiling heights of up to 3.1 meters in the living/dining and main bedroom. The four bedroom apartment has just 2.5 bathrooms.

There will be 501 car parks for the 1,002 apartments, with 459 machine-type parking and 42 flat-type parking. Two guest parking spaces will have EV charging points. One bicycle parking space will be allotted per apartment.

Azabujuban Station will be a 5 ~ 7 minute walk away once a nearby third-party redevelopment project is completed.