UT Building Project (Stalled & Foreclosed)
*Update: As of December, 2010, this building has been foreclosed on and is now up for public auction with a court evaluation price of 1,005,030,000 JPY (12 million USD).*
Located alongside Aoyama Dori Avenue, halfway between Omotesando and Shibuya Stations, this building has been 'under construction' for several years. Construction work stalled at least 2 years ago. Earlier last year there was a crane atop the building, but it has since been removed and there are no signs of life.Read more
Ralph Lauren Building in Omotesando to be sold for USD350 million
Secured Capital Japan and other investors are to buy the iconic Ralph Lauren building (also called Espoir Omotesando) along Omotesando Avenue for USD350 million in one Japan's biggest real estate transactions of the year.
The building is to be acquired by the end of the month. Along with Secured Capital Japan, other investors include Orix and Trinity Investment. The total purchase price is 31 billion JPY with the three investors providing 7 billion JPY and the remaining 24 billion JPY to be provided by Germany's Deka Bank.Read more
Omotesando's most expensive home
Price: 900,000,000 Yen Reduced to 790 million Yen in 2012.
House Size: 499.95 sqm (5280 sqft)
This large private house priced at 790 million Yen is one of the most expensive homes for sale in Minato-ku. The total floor area is almost 500sqm (5,380 sqft) and has 4-bedrooms, home elevator, sauna, rooftop terrace and 4 car garage. The grand entrance features a winding staircase and chandelier.
This house has been on the market since early 2010 and has yet to find a buyer. The price was reduced in 2012 from 900 to 790 million Yen. *Update: The brightly coloured home was still on the market in 2014.
The Minamiaoyama address is considered to be one of the best in Tokyo, and many celebrities have residences here. Land values continue to remain high in this neighborhood. The house is walking distance to Omotesando Hills, Prada, Nezu Museum, cafes and more. Read more