Luxury ryokan to be built in Ginza
Hulic, a major real estate company, recently announced plans to redevelop a prominent corner block in Ginza into a luxury ryokan-style hotel with an opening scheduled for 2025.
Demolition of Nakagin Capsule Tower to start April 14
Demolition of the Nakagin Capsule Tower, a famed metabolist building, is scheduled to start on April 14, 2022, ending years of efforts to save the landmark structure.
One capsule, and maybe more, in Nakagin Capsule Tower Building to be saved
With demolition on the horizon, there are some glimmers of hope that at least one of the 140-odd capsules in the iconic Nakagin Capsule Tower Building might just be spared from the trash heap.
The goal of one of the preservation groups is to save capsule A-606, both the capsule unit itself and its original interior. There are also plans to build a custom trailer so that the capsule can be towed around to various locations, such as museums, galleries, and universities allowing Kisho Kurokawa’s legacy to be appreciated by all. The estimated cost just to save this one capsule and make it mobile is around 6.5 million Yen (approx. US$59,000).
Apparel company sells flagship Ginza building
On July 17, apparel giant Sanyo Shokai announced the sale of their flagship building in Ginza. Temporary store closures during the pandemic have hit the brick-and-mortar retail sector hard, with some cashing out of their real estate holdings to shore up cash reserves. Real estate developers are having a field day as struggling companies reach out to offload long-held and highly-prized assets.
Son sells Tiffany Building in Ginza
As part of their expansion in investment in the Ginza district, real estate company HULIC has acquired the Tiffany Ginza Building from SoftBank CEO Masayoshi Son this month. This was a joint purchase with Fuyo General Lease, a Mizuho Financial Group company.
Land in Ginza to sell for 64 million Yen (570,000 USD) per square meter
Articles appearing in both the Nikkei Business Publication and the Business Journal have suggested that a block of land (with building) alongside Ginza’s main shopping street will be sold for a record price of up to 64 million Yen per square meter (approx. 570,000 USD/sqm or 53,000 USD/sq ft).