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Barrio Parque: Prices and new projects in the most exclusive area of the city - La Nacion Propiedades
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April 3, 2024
The current real estate offer in this corner of Palermo designed by Carlos Thays
By Victoria Aranda
Barrio Parque is the most exclusive residential area of Buenos Aires with embassies, old mansions and mansions
Ten minutes from Retiro and Catalinas, a low neighborhood with a preeminence of houses allows pedestrians to walk through its silent, tree-lined streets at 11 in the morning on a weekday , with the singing of birds perfectly audible in the background, and oblivious to the urban disorder prevailing a few blocks away.
With an architecture that combines styles , Barrio Parque is the most exclusive residential area of the city, understanding exclusivity as a quality that speaks of the exceptional, the special and even the privileged. And the market confirms this, not only with the value of the square meter but also with a restricted supply and a demand that exceeds it.
GPS activated
Located between Figueroa Alcorta and Juez Tedín avenues, and Jerónimo Salguero and Tagle, just a stone's throw from the North Access, the area is part of Palermo Chico, a sub-neighborhood of the immense Palermo also made up of Grand Bourg, as the delimited area is called. along Aguado and Rufino streets in Elizalde, Ocampo and a section of Castex and Coronel Díaz Avenue on the other side of Figueroa Alcorta.Together, they make up a neighborhood with 110 years of history, cataloged as Historical Protection Area 3 . In order to build, there are such strict requirements and codes that it is almost one of the few places in the City where there is no room for exceptions. “ The houses in general are not protected, it is the neighborhood. But there is a respect for the identity that makes the majority of people who buy a house in that area respect the original facade and carry out internal recycling,” says Tomás Montoreano, director of Evoluer Real Estate.
The house that belonged to Victoria Ocampo in Barrio Parque was designed by architect Alejandro Bustillo and today is the headquarters of the National Fund for the Arts
Being a protected area, it is a “tower-free” neighborhood . The closest thing to a tall building is the Le Parc Towers. In the 90s, the last major development was built in Barrio Parque, which was the Alcorta Palace. However, in recent times different projects have sought to converge with traditional properties and provide a modern edge to the traditional Buenos Aires neighborhood.
Specifically, Barrio Parque, with its circular street, Ombú, its narrow and cobbled passages and its ash and oak trees, was born in 1911, by Carlos Thays , at that time director of Parks and Public Walks of the City of Buenos Aires .
Alcorta Palace, former Chrysler building that once had a car track on its roof
The new
“Since the late 90s with the Alcorta Palace and its lofts, there has not been another real estate development in 25 years . Currently there are three new developments ,” observes Montoreano, from Evoluer Real Estate, a firm with intense activity in the area and a former resident who knows its corners.“One of them is located on Martin Coronado Street and stands on more than 9,000 m² of land,” details the interviewee in reference to the building located on the aforementioned artery, between Salguero and San Martín de Tours, with more than 30 units of luxury of about 250 m², all of them with gardens and large terraces and their own pools .
This project is located on land behind the Malba museum , which had initially been purchased by Banco Santander to make an office building with a height that exceeded that allowed by the code. The neighborhood commission and representatives of the museum presented their complaints and the project expired. At the same time, the bank sold the land.
Another proposal that is being outlined is Line Ocampo, which will have more than 117 units of between 150 and 500 square meters covered, with terraces and gardens that sell from 5000/m². Located in Ortiz de Ocampo and Juez Tedín, it consists of nine floors, three basements, a total area of 50,000 m² and a varied range of amenities: from a restaurant/bar to a gym, games room, event room, complimentary parking and microcinema, among others.
Line Ocampo offers the concept of high-rise houses due to the large dimensions of its units and outdoor spaces.
According to Gabriela Goldszer, director of Ocampo Properties, the firm that markets the project, it is “ a housing development with the soul of a home . ” The specialist affirms that this is the central idea of the proposal, both in relation to comfort and its mark in general. “I would say that the area is traditional and distinguished, with its emblematic houses and iconic residences ,” she defines.
The terrace will have the pool with views of the city
Along the same lines, he explains that “a new project in such a traditional neighborhood always adds strength, vigor and modernizes it with a contemporary design that adds comfort, highly valued by end consumers who appreciate the location, but also what gives them the project.”
The third novelty is Civis, also, on the aforementioned Judge Tedín, erected on land without previous constructions, with only six units: two houses on the ground floor, with a garden; two flats and two penthouses with terraces facing the front and the quiet part of the building. Sebastián González Chávez, commercial manager of the Obras y Sistemas developer, shares that, today, only two properties are available from the initiative led by Bodas Miani Anger.
A project with two houses on the ground floor, two apartments on the middle floors and two penthouses
“As a guide, we can say that the square meter is around US$7,000,” answers González Chávez, when asked about the values. And he continues: “In the houses, the ticket is around US$2.9 million while in the penthouses, it is US$2.8 million ,” he specifies, pointing out that each unit has three garages, in addition to other super-luxury details.
The new projects have luxury details in their units
“We are talking about a tailor-made, personalized product, and about a customer who buys because he wants to fulfill a dream ,” the developer adds, detailing, in parallel, that the sales strategy aligns with the described target. “It is for this reason that we do not work with massive advertising; It is select marketing, fly fishing instead of casting the net.”
Houses and neighbors
In relation to the traditional product of the area, Montoreano, from Evoluer Real Estate, explains that the houses in Barrio Parque are always in demand. There are around 200, with an average size of 450 square meters, which coexist with a few low-rise buildings . Some were updated although, for the most part, they retain their original front.“ Those who do not want to go to the northern area buy, but who at the same time want a garden and pool 10 minutes from the center ,” details the specialist about the client of this type. Specifically, with regard to green spaces, he reveals that the best gardens are on Juez Tedín Street, an odd sidewalk, which are those that face the General San Martín railway. “ The smallest plots are on Mora Fernández, where there are houses that have terraces that, at the same time, are highly sought after ,” he adds.
According to Montoreano, there are houses in different states of conservation that, in general, are purchased by people who have already lived in the area. “There are also many businessmen, diplomats, athletes and entertainment figures who are interested,” he lists, although without naming any celebrities, but it is known that Susana Giménez, Marcela Tinayre, Flavia Palmiero, Mariana Fabbiani, Teresa Calandra live in Barrio Parque, Carlos Bianchi, and Pampita, Benjamín Vicuña, Mauricio Macri and Juliana Awada lived until a while ago.
Especially diplomats – and foreign executives in high management positions – are the ones who also drive the rentals of this type of property . According to the source, the values for this concept start at US$4,000 per square meter. “Good condition is an essential requirement for tenants,” he emphasizes.
Park Neighborhood
Regarding the sale values, Francisco Bosch, owner of Miranda Bosch, explains that the houses are not valued in relation to the classic parameter, that is, the square meter: “Other factors are taken into account, such as which street it is located on. the property and what condition it is in.” According to the broker, the price also varies in relation to the uncovered parts such as the patio, terrace, pool and grill.
“ They can be between US$1 million and US$5 million and many times the values can be even higher ,” states Bosch. “On the other hand, the apartments range between US$3,500 and US$5,000/m² ,” he shares, although always underlining that there may be variations.
For Nahuel Achával, manager of Residencial de Toribio Achával, the client looking to purchase a property in this area thinks about a solid investment and a guarantee of guaranteed value for their capital , in a completely consolidated neighborhood. And safely.
“It is strategically located close to two large arteries, such as Libertador and Figueroa Alcorta avenues, which makes it an ideal point to have great connectivity with the rest of the city,” he develops. “Afterwards, tranquility, quality of life and exclusivity are some of the characteristics most valued by this type of buyer who chooses Barrio Parque today,” he concludes.
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