A faster pace of sales than expected according to developer Mitsui Fudosan Residential.
On November 10th, Mitsui Fudosan Residential opened Park Court Jingu Kita Sando The Tower to the press. The development, currently still under construction, is located in Shibuya ward clocking in at 471 units total when finished.
Since the start of sales approximately 6 months ago, the developer revealed that 211 units have already been applied for, a pace faster than expected.
The property is located a 1 minute walk from the Tokyo Metro Kita Sando Station and a 6 minute walk from the JR Yoyogi Station on the Yamanote line.
The property has a site area of approximately 4,837 square meters, a total floor area of 55,655 square meters, is 27 floors above ground with one below ground in a reinforced concrete structure.
Construction is scheduled to be completed in late June of 2023.
In addition to being designed and built to high standards, the location of the 27 storey building is what makes it uniquely special.
Surrounded in all directions by three of Tokyo’s marquee parks, Meiji Jingu, Shinjuku Gyoen and Jingu Gaien, this is the only development that can boast this much green views all around the complex.
The average price per tsubo of the properties for this initial sale is in the upper 8 million yen range. In addition, 9 out of the 10 penthouse units are already under application with the views being singled out by buyers as extremely desirable and unique.
4 of the penthouse units have roof balconies with jacuzzis installed.
These initial sale units have 2 bedroom and 3 bedroom layouts with exclusive areas ranging from 61.35 to 237.49 square meters, and the selling price ranges from 128.8 million yen to 1.37 billion yen with the average unit price being approximately 228 million yen.
The residential unit layouts for the whole development include 1 bedroom (133 units), 2 bedroom (198 units), and 3 bedroom (140 units) configurations.
The number of visiting potential buyers as of October 31st was 1,659 visits. The attributes of the registered applicants are as follows: 15% are in their 30s, 25% in their 40s, and 26% in their 50s; 23% have a household of one person, 30% have a household of two, and 14% have a household of three; 17% live in Shibuya Ward, 9% in Shinjuku Ward, 9% in Minato Ward, and 48% in other parts of Tokyo.
About 30% were purchased for investment purposes according to the Mitsui Fudosan Residential.
Park Court Jingu Kita Sando The Tower - Mitsui Fudosan Residential (Japanese only)