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

 ABOUT

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

 ABOUT

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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Land in Ginza sells for 43 million Yen/sqm

ginza-3-land

In August, railway operator Hankyu Corporation acquired a block of vacant land in Ginza for 13.5 billion Yen (approx. 132 million USD). The purchase price worked out to be approximately 43,700,000 Yen per square meter (40,000 USD/sq.ft), or around 4,500,000 Yen per buildable square meter (4,100 USD per buildable square foot) based on a potential 3,000 square meter building.

The 308.88 square meter (3,323 sq.ft) corner block of land is located alongside Namiki Dori Avenue. It was originally the site of the 10-storey Tokyo Chusha Building, which had a total floor area of 3,000 square meters (32,280 sq.ft). The building was demolished in 2015.

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Open Residencia Ginza 2 Chome

Open Residencia Ginza 2 Chome 1

Price when new: 40.9 ~ 67.1 million Yen (1,635,000 Yen/sqm)
Size range: 25.11 ~ 40.97 sqm (270 ~  441 sqft)

Area: Ginza, Chuo-ku

 ABOUT

Open Residencia Ginza 2 Chome is a 10-storey compact-style residential building located 200 meters from the Chuo Ward Office. It is 700 meters from the Ginza 4 Chome Intersection, but the immediate area around this property is primarily a crowded and old district. It is also 110 meters from Wellith Ginza 2 Chome

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