[Foreclosed] 13 Apartments in Gotenyama Trust Court
Court Evaluation: 543,200,000 Yen (7.05 million USD)
*Update: The winning bid was 548,000,888 Yen. Only 1 bid was made on the property and it was by a corporate entity.*
A group of 13 apartments have been foreclosed in Gotenyama Trust Court, near Shinagawa Station. The apartments range in size from 63.24 ~ 317.24 sqm (680 ~ 3413 sqft) and the total floor size is 1,552.83 sqm (16,708 sqft). The Court's evaluation of the value of the apartments is approximately 379,000 Yen/sqm.Read more
[Foreclosed] Christy Homes Nishiazabu
Court Evaluation: 364,770,000 Yen (4.73 million USD)
*Update: The winning bid was 488,800,000 Yen (6.3 million USD). A total of 16 bids were made on the property and the winning bidder was a corporate buyer. By 2013, the building had been demolished.
Christy Homes Nishiazabu is a 3-storey apartment building located right next-door to the Azabu Catholic Church in Nishiazabu 3 Chome. This apartment building looks like a high-end expat apartment building from the outside, but there are some serious flaws behind the surface which would, and mostly likely have, put off most buyers.Read more
[Foreclosed] Mita Tsunamachi Park Mansion 15F
Court Evaluation: 70,000,000 Yen
*Update: The winning bid was 80,300,000 Yen. A total of 4 bids were made on the apartment and the winning bidder was a private individual.
This 2-bedroom apartment in Mita Tsunamachi Park Mansion is up for public auction. The building was developed by Mitsui and was Japan's first high-rise apartment development. The 15th floor corner unit overlooks the greenery of the Mitsui Tsunamachi Club grounds and also has views of Tokyo Tower. Because of its views, it was valued at 5% higher than apartments facing other directions. Carparking and a storeroom is included.Read more
Foreclosed house in Shirokanedai, Minato-ku
Court Evaluation: 204,370,000 Yen
*Update: The winning bid was 236,000,000 Yen. A total of 6 bids were made on the property and the winning bidder was a corporation.
The house is also being listed by real estate agents as a short sale with an asking price of 360,000,000 Yen (4.67 million USD), but it is unlikely that it will be sold prior to public auction at that price.Read more
Owner of foreclosed property attempts to destroy building
The Tokyo Branch of the National Tax Agency (NTA) had seized an office building due to the owner's non-payment of taxes. Immediately prior to the public auction, the owner damaged part of the building and removed electrical wiring and the air-conditioning system and effectively rendered the building unusable. The auction was delayed for 3 months and re-listed at a lower price. According to the NTA, this is an unprecedented situation.
The empty 10 story building in Kofu City, Yamanashi Prefecture, was purchased in June, 2009, by a female operator of a nursing care company. The new owner planned to demolish the current building and develop an aged-care rental apartment complex, with a total estimated cost of 2 ~ 4 billion Yen (25.6 ~ 51.2 million USD). However, due to non-payment of taxes, the building was seized by the Tax Agency.Read more