Details have been released on a new condominium project in the Minami Aoyama address that is set to become one of the city’s most unique and luxurious developments.
Park Court Aoyama The Tower is a 26-storey residential tower currently under construction near Aoyama Itchome Station. It will contain 163 apartments, of which just 99 will be made available for sale. Completion is scheduled for late March 2018, with apartments to be delivered by buyers from late April 2018.
The generously sized apartments range from 70 ~ 234 sqm (753 ~ 2,518 sq.ft) and feature curved floor-to-ceiling glass windows to take full advantage of the city views. The largest unit, a 234 sqm 3-Bedroom apartment, will have two bathrooms – a family bathroom with full bathtub, and a second ensuite shower and toilet in the smaller bedroom. Smaller units will only have one bathroom, which is standard in Japanese apartments regardless of pricing.
Residents will be able to enjoy a ‘sky lounge’ on the 25th floor, movie screening room, infinity pool and jet bath, a coach entrance and parkland which will features pieces from sculptor Kan Yasuda. Yasuda designed one of the stone artworks displayed in front of the nearby Tokyo Midtown complex.
The public and private spaces will be designed by architect and interior designer Bruno Moinard. Moinard has an impressive resume, having worked on interiors for Karl Lagerfeld, the Hermes headquarters and Veuve Cliquot’s Hotel du Marc. He has also designed 350 boutiques around the world for Cartier.
The 3,910 sqm (42,000 sq.ft) site is located alongside Gaien-Higashi Street and on the very northernmost end of the historic Aoyama Cemetery. It is 1,000 meters from the Tokyo Midtown office, retail and hotel complex, 1,200 meters from the new Olympic Stadium site, and 1,400 meters from Omotesando.
Transport-wise, it is a 3 minute walk from Aoyama Itchome Station, which is serviced by the Ginza, Hanzomon and Oedo Subway Lines. The Aoyama itchome Station area has only a very limited number of recently built condominiums located within a 5 minute walk of the station. As a result, current and future supply is low in this area.
Sales are scheduled to begin later in the year, with pricing yet to be announced. Given the attention to detail and design features of this projects, pricing is expected to be at the upper end of the scale for central Tokyo apartments.
Mitsui’s other new project, Park Court Akasaka Hinokicho The Tower, set price records in 2015 with a 3-Bedroom penthouse selling for 1.5 billion Yen (14.2 million USD at today’s rates), which worked out to around 7,354,000 Yen/sqm (6,500 USD/sq.ft). Average prices ranged from around 2,600,000 Yen/sqm for 1-Bedroom units on low floors up to 4,000,000 Yen/sqm+ for larger units on higher floors. Apartments were over-subscribed with an average of 1.9 purchase applications made on each apartment.