Next month, construction will start on a new condo project in the Kita Aoyama address. The site is located behind Gaienmae Station and near the Olympic Stadium.

According to the Nikkei Real Estate Market Report, this building will contain 30 condominium units. 

Pricing and sales information has yet to be announced, but non-luxury new apartments are typically priced between 2.5 ~ 3 million Yen per square meter. For luxury apartments, pricing is closer to 4 ~ 5 million Yen per square meter in this neighborhood. 

The 10-story building will have a gross floor area of 2,999 m2, and a floor plate size of up to 385 m2, resulting in a gross BCR of 49% (maximum of 60% for this lot) and a FAR of 380% (maximum of 400% for this lot). Completion is scheduled for early 2025. 

Directly across the street, Mitsubishi Jisho Residence is planning a 10-story, 31.8-meter tall apartment block on a 296 m2 size with a gross floor area of 1,405 m2. Construction is scheduled for completion by late April 2024. This project is designed by GYRO architects. This architectural firm has designed several of Mitsubishi’s Parkhabio and ParkOne’s rental apartment buildings. It’s possible this project will be rental-only.

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