Park Court Akasaka Hinokicho The Tower sells-out despite record-high pricing
All apartments initially offered for sale in the Kengo Kuma-designed Park Court Akasaka Hinokicho The Tower, currently under construction near Tokyo Midtown, have sold out during the first stage of sales held over the past weekend. The building is now 93% sold. Over 1,000 bookings were made to visit the sales office's showroom in the lead up to the first round of sales.
Prices started from 155.6 million Yen (1.26 million USD) for a 57 sqm (613 sq.ft) 1-Bedroom unit, up to 1.5 billion Yen (12.2 million USD) for a 203 sqm (2,184 sq.ft), 3-Bedroom penthouse apartment. With a price of 7,354,000 Yen/sqm (5,500 USD/sq.ft), the 203 sqm apartment could possibly be the most expensive apartment to go on sale in Japan since the bubble era of the 1980s. Even penthouse apartments in Roppongi Hills have only reached 4 ~ 5 million Yen/sqm in recent years, while apartments in the Toranomon Hills complex are around 4 million Yen/sqm. Despite the strong pricing in the building, only the 203 sqm penthouse unit has two full bathrooms, while the rest of the apartments in the building have 1 bathroom each.Read more
Akasaka - Japan's most sought-after residential address for CEOs.
Until recently, the most popular residential neighbourhoods for company presidents were Denenchofu and Seijo, but the latest trends show a preference towards central Tokyo.
Tokyo Shoko Research conducted a survey of 2.67 million companies nationwide and has ranked the most popular residential addresses of company presidents. In top spot was Akasaka in Minato-ku. It was followed by Yoyogi and Nishi Shinjuku. Denenchofu, which had once dominated the chart, had fallen to 18th spot, while Seijo dropped to 13th position.
In 2003, Roppongi was ranked 88th, while Nishi-Shinjuku did not even make the top 100. In 2014, Roppongi was ranked 5th.Read more
Future redevelopment in Akasaka 7 Chome
Landowners in Akasaka 7 Chome have formed an association with a view to redeveloping their neighbourhood. Although details are yet to be confirmed, its possible that a developer is already involved in the planning.Read more
Sekisui House to acquire Akasaka building for 74 billion Yen
According to Reuters, Sekisui House plans to acquire the Kokusai Akasaka Building for 74 billion Yen (724 million USD). The office building is located alongside Sotobori Dori Avenue and is meters from Tameikesanno Station. It is also just across the street from Sanno Park Tower.Read more
New 44-storey apartment building for Akasaka
The Akasaka 9 Chome North District Redevelopment is scheduled to begin construction in October 2014 with completion in March 2017. The project will include a 44-storey 170m tall residential building with 330 apartments.
The developer is Mitsui Fudosan Residential, so if this becomes a condominium (rather than a rental-only building) then it could possibly be branded as one of their 'Park Court' series of apartments. Read more