Tokyo City is looking for a new tenant for the historic Ogasawara Residence in Shinjuku. The Spanish-style home was built in 1927 for Count Nagayoshi Ogasawara (1885-1935).
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200 billion Yen redevelopment for Shinjuku West Exit
On February 9, Odakyu Electric Railway announced that it will be working together with Tokyu Land on the 200 billion Yen redevelopment of the former Odakyu Department Store near the west exit of Shinjuku Station.
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50-yr old apartment building in Shinjuku to be refurbished
A former luxury rental apartment building in Shinjuku is undergoing a full refurbishment. Rather than follow the standard practice of demolishing and rebuilding from scratch, the 50-year old building will be stripped back to its concrete structure, retrofitted and renovated.
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160m tall apartment tower for Nishi Shinjuku 5 Chome
A 43-storey, 160 meter tall apartment tower is planned for the Nishi Shinjuku 5 Chome address in Tokyo. Construction is scheduled to start in mid-2020 with completion by July 2023.
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The Parkhouse Shinjuku Gyoen has reached completion
Construction of The Parkhouse Shinjuku Gyoen, a 14-storey condominium located directly across the street from the Shinjuku Gyoen National Garden, reached completion last month.
The building contains 52 luxury residences ranging in size from 55 ~ 100 sqm (592 ~ 1,076 sq ft). When sales began back in early 2016, apartments were priced from 64 ~ 269 million Yen, with an average price of around 1,725,000 Yen/sqm.
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The Parkhouse Nishi-Shinjuku Tower 60 reaches completion
Construction of Japan’s tallest apartment building based on total floor count has reached completion this month. The Parkhouse Nishi-Shinjuku Tower 60 is a 60-storey, 209 meter tall condominium located to the west of the Shinjuku business district.
It may not keep its title as the tallest building based on floor count for long – two 65~66-storey, 235m tall apartment buildings with as many as 3,200 apartments are tentatively planned for a site on the eastern side of Shinjuku’s Park Hyatt Hotel and less than 1,000 meters south of The Parkhouse.
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Land under Takashimaya Times Square Building sells for 21 billion Yen
Takashimaya has acquired the remaining 60% of the land under the Times Square Building near Shinjuku Station for 21 billion Yen (approx. 185 million USD).
The property is located on the eastern side of Shinjuku Station in Shibuya ward. The main tenants of the building include the Takashimaya department store and Tokyu Hands.
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Shinjuku office vacancy rate drops to 1% range
The office vacancy rate across Tokyo’s five central business districts of Chiyoda, Chuo, Minato, Shinjuku and Shibuya dropped to 3.22% in July, down 0.04 points from June and down 0.72 points from July 2016. This is close to the record low of of 3.03% reported in April 2008 and down from a high of 9.43% seen in June 2012.
The vacancy rate in existing buildings (excluding new construction) was 2.87% in July, down 0.74 points from last year.
In Shinjuku ward, the vacancy rate was 1.68%, down 0.06 points from the previous month and down 1.30 points from last year. The vacancy rate dropped to the 1% range in May 2017.
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