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.

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City Tower Ginza East

Price when new: 39.9 ~ 129.9 million Yen (1,300,000 Yen/sqm)
Size range: 34.54 ~ 83.95 sqm (372 ~ 903 sq.ft)

Area: Minato, Chuo-ku


Sales started in mid-2017.

City Tower Ginza East is a 22-storey apartment building developed by Sumitomo. It is located 110 meters from the Sumida River and 1,400 meters, or an 18 minute walk from the Ginza shopping street.

It was built using the base isolation (menshin-kozo) method of earthquake-resistance construction which is the highest grade available and reduces the level of swaying in an earthquake.

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Proud Ginza Higashi Residence

Price when new: 66 ~ 219 million Yen (approx. 1,300,000 Yen/sqm)
Size range: 58.05 ~ 100.42 sqm (625 ~ 1,081 sq.ft)

Area: Akashicho, Chuo-ku


Sales began in August 2017.

Proud Ginza Higashi Residence is located 1,100 meters, or a 14 minute walk from Ginza’s main shopping avenue and 500 meters from Sumida River. It is a 2 minute walk from Shintomicho Station on the Yurakucho Subway Line.

The 12-storey building includes 102 two and three-bedroom apartments, and 22 car spaces. The resident lounge interior has been designed by Hirsch Bedner Associates (HBA). This firm has also done interiors for Four Seasons, Shangri-La and the Grand Hyatt.

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