Is this the biggest 1-bedroom apartment in the world? It almost certainly is the largest one-bedroom in Japan, and at 700sqm+ it is Japan?s 2nd largest apartment.
Sadly, this penthouse atop Brillia Mare Ariake remains unsold despite a recent drop in the asking price from 1.05 billion to 600 million Yen (7.6 million USD). Not even Madonna?s advertising campaign for the building was enough to secure a sale (see Youtube ads?here?and?here).
Price Reduction
After a 43% price reduction, the new price works out to 840,000 Yen/sqm.
Normal, non-penthouse apartments in this building were priced at 750,000 Yen/sqm when listed off-the-plan in 2007. Prices increased to 825,000 Yen/sqm by 2010~2011, but they have taken? tumble since the Tohoku disaster which highlighted the risk of living on man-made islands, and are now around 728,000 Yen/sqm (850 USD/sqft). This represents a fall of 3% since new. Average rents have also fallen by approximately 9.7% in the past 2 years.
The apartment is also being advertised for rent at 1,300,000 Yen/month (16,500 USD) through?one agency?but 1,700,000 Yen/month (21,500 USD) through popular expat agency?Ken Corp, so someone has made a mistake. At 1,300,000 Yen/month, the gross return would be just 2.16% per annum, which is typical for the luxury end of the market in Japan.
The Apartment
While some floorplans show this as having 1-bedroom and a myriad of guest rooms, studies and maid rooms, it actually has up to 6 or 7 rooms which can be used as bedrooms. It also has 6 bathrooms, two full kitchens, two living areas, a formal dining room, wine cellar, ?rest room? and tatami room.
It won?t earn the title as the world?s most expensive 1-bedroom apartment which was given to the penthouse in?The House Minamiazabu?by the listing agents, but with a little spin it could be considered one of the largest one-bedrooms in the world.
It is on the 32nd floor, which is the highest floor for the residences. There are common facilities for all residents on the 33rd floor.
With a total internal floor area of 714.26 sqm (7685 sqft) and a 100.79 sqm balcony, this is possibly the 2nd largest single apartment in Japan. The largest apartment in Japan is the 2-level penthouse atop?Bliss Beige Jingumae?which had an asking price of 1.6 billion Yen (20.2 million USD) and has since been sold to a foreign buyer.
Carparking is not included, but can be rented onsite from 15,500 ~ 25,000 Yen/month (190 ~ 315 USD). The management and repair fund fees for this apartment are 307,290 Yen/month (3890 USD).
The Building
The penthouse is in a large condominium of 1085 units located on a manmade island in Tokyo Bay. The 33-storey building was completed in 2009.
Common area features include a pool, bar, spa and gym.
The Location
It is not a very convenient area to live as transport options are limited. Some of the islands are gradually seeing more retail and residential development but many vacant blocks, factories and logistic facilities remain.
Address:?1-4-11 Ariake, Koto-ku, Tokyo
The Floorplan
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Editor?s Note: Zoe Ward is the publisher of?Japan Property Central?and has extensive experience in the Tokyo real estate market, working for some of the advertising agents on Real Estate Japan. Photos courtesy of Zoe Ward.
Tokyo Apartments For Sale | Tokyo Apartments For Rent | Real Estate Japan
Source: http://www.realestate.co.jp/2012/08/03/discount-on-the-worlds-largest-1-bedroom-apartment/
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