Düsseldorf At the end of June, the first residents were able to move into the “Grand Tower” in Frankfurt’s Europaviertel. After a good four years of construction, the skyline of the banking city is now one tower taller. And what a one: At just under 180 meters, the building can be called “Germany’s tallest residential high-rise”, 413 apartments with a total area of just under 33,000 square meters are spread over 48 floors.
The majority of the apartments were sold long before they were completed, many of them to Asian investors. There are still five apartments with penthouse character high above the roofs of the city. A square meter price of 30,000 euros is allegedly called – with 300 square meters of living space.
This also fuels expectations for other high-rise projects in the main metropolis – such as the “One Forty West”. With a height of 140 meters, it is not quite as high as the “Grand Tower”, and it only offers 187 apartments, of which in turn exclusive 94 pieces are for sale. The other co-builder Commerz Real, Commerzbank’s real estate fund subsidiary, plans to hold and rent out the open-ended real estate fund Hausinvest.
Perhaps the most important difference to the “Grand Tower” lies in the mix of uses: people only live above a height of 84 meters, and a Meliá hotel will move into the floors below – about half of the total area. Its services will be used by future residents, an important unique selling point of the property. “We are very convinced of the product and the mix of uses,” Mario Schüttauf, fund manager of Hausinvest, reaffirmed the concept. This is also well received by potential buyers: a third of the apartments have already been sold.
Schüttauf is silent about how much they pay: “Every apartment has its individual price,” he says, referring to the many special requests of his wealthy and demanding customers. At the start of sales of the “One Forty West” in spring 2019, Commerz Real announced minimum sales prices of 13,000 euros per square meter. However, the new owners will move in later than expected: the completion, originally planned for late 2020, will be delayed by at least twelve months.
Berlin builds more hip than high
By the end of the year, the first residents of the “Grandaire” on Berlin’s Alexanderplatz should be able to move into their 164 freehold apartments in the high-rise building and 104 rental apartments in the L-shaped block. Since the fall of the Berlin Wall, it is the first high-rise residential building to be built on the historic square in the Mitte district. Even if some people in Frankfurt will smile at the height of 65 meters: in the capital, which was skeptical for years because of its plentiful supply of building plots, the “Grandaire” is setting an example.
The groundbreaking for the next project on the “Alex” has already been done: The Russian project developer Monarch is building the “Alexander Berlin’s Capital Tower” – at 150 meters it will be the tallest skyscraper in Berlin. A good 370 apartments on 29 floors are planned, with restaurants and retail on the lower three floors. Several other high-rise buildings on the Alex are being planned – they too will offer apartments. However, they will probably no longer reach a height of 150 meters: the Covivio tower, which was initially planned to be at the same height, was reduced by 20 meters – in keeping with Berlin’s recently adopted high-rise model, which is based on compatible building heights in a city that currently only has about 1300 of 370,000 buildings – 0.3 percent – measure more than 35 meters.
Berliners who want to have a view of the city from their roof terrace do not have to go as far as Frankfurt. The penthouses in the “Neu-House” project in Kreuzberg or at Bornholmer Strasse 6 on Prenzlauer Berg offer it from the sixth floor. And that at prices of 12,530 euros per square meter in Kreuzberg or 8,500 euros in Prenzlauer Berg.
More: Short journey, plenty of space, enough distance – why your own holiday home is so popular now