Kreuzberg Strasse Berlin

Kreuzberg Strasse Berlin 45 is a classic Altbau building with 35 apartments and 2 commercial units. The building was constructed in the first decade of the 20th century.

A modern central heating system has been installed in the property. The lobby and stairwells were renovated in 2014.

Renovations

As part of the renovations in the building, 6 new apartments will be built above the existing structure in the front wing, and a communal roof terrace will be developed. Additional renovations will include the refurbishment of the back façade and landscaping the central yard.

Centrally located near Mitte, Kreuzberg neighborhood is considered one of the trendiest areas in Berlin, with a strong presence of Berlin’s creative class. The neighborhood is renowned for it’s vibrant life style venues including numerous restaurants, bars, clubs and galleries.

The micro location of the property near Viktoria park and Bergmann Strasse, which is the continuation of Kreuzberg Strasse, is considered the most established and affluent area of the neighborhood.

Bergmann Strasse, is a major commercial and shopping street, nick named Kreuzberg’s Ku’Damm after Berlin’s upscale shopping street in nearby Charlottenburg.

Beautifully landscaped Viktoria park is located adjacent to the property, with the newly opened Gleisdreieck Park situated just across from the building with more than 30,000 SqM of green space, unique trails and playgrounds.

Kreuzberg Strasse 45 is the first project of Inspiration in Kreuzberg and one of the few prime location projects we have initiated.

Situated in one of the most sought after areas in Berlin, the median price of tenanted apartments in Kreuzberg- Friedrichshain surpasses 3,600 EUR/SqM (JLL 2014), including closing costs. Vacant apartments are marketed at 4,000 EUR/ SqM and above, reflecting the attractive pricing of the project, and the strong capital gain potential of the investment.

Rental Demand

The strong demand for rental apartments in the area translates into new leases in the immediate vicinity reaching 12 EUR/SqM. The demand for housing in the micro location means a high level of security for Inspiration investors and an ease in locating new tenants for higher rents.

Re-Sale

The large 3-4 bedroom apartments present some of the most attractive investment opportunities. A scarcity of large (100 SqM and up) apartments in the area has a pronounced effect on the future resale price of these apartments. While 3-4 bedroom apartments in Kreuzberg 45 are marketed between 2,000-2,5000 EUR/SqM, vacant apartment of similar size in the neighborhood are currently marketed for 4,500 EUR/SqM.