Real estate developer Asahi Kasei Realty & Residence Corporation has emerged as the successful buyer of a scandal-hit property near Tokyo’s Gotanda Station.
The 2,000 sqm property was at the center of a major land swindle in 2017 that saw developer Sekisui House lose over 5.5 billion Yen to fraudsters who had impersonated the seller, taken the money and disappeared. Several alleged conspirators have since been arrested.
Several months after the fraud had occurred the true owners of the property sold it to Asahi Kasei for an undisclosed amount. The developer is considering either a residential or office tower for the riverside site.
The property had been in the same family since the early 1900s, operating as a ryokan in a former red light district. The previous owner, who passed away in 2017, had staunchly refused to sell, knocking back any offers from developers. The current ryokan, built in 1949 after the previous one was destroyed in WWII air-raids, closed down several years ago.
Source: TV Asahi, May 23, 2019.