Real Estate Sales Great New Construction For Sale that is going to be Completed by August 2024 - Meet Palermo

[BuySellBA]

This is one of the projects that we are buying many units for ourselves and our clients. It's in a beautiful part of Palermo that is very authentic and doesn't feel like the "Disneyland" that is Palermo Soho. It's the perfect area for Expats who want a quiet and authentic area to live in.

Here you can see photos of the construction from Day 1. As you can see the entire structure of the building is done. They just have to finish out the inside of the building. They already have 2 apartments done for their showroom so you can see it. - https://photos.app.goo.gl/nP3fcjzmseEyhryF9

Contact our firm and we can make an introduction and help you get a discount as we are buying in bulk in this building.

You can see our Twitter Post about this property here -

https://twitter.com/x/status/1711388505249816597

Contact Us: info@BuySellBA.com

Renderings of the building:










To Scale Floor Plans of the Units For Sale:

 

[Canada Goose]

Wow! Looks incredible! Thanks for sharing! Is that penthouse still for sale? How many units are on the penthouse level? That street looks nice. I like that the building is all up already. Will they really finish by August 2024?

 

[Che Vos]

I agree with your assessment of Palermo Soho as "Disneyland". It is nice for a dinner or drinks with my friends but everything is over priced in that area. I had an ice cream the other day and it was very expensive. The same thing in other neighborhoods is much less expensive. Even for tourists I don't understand why they want to stay in an area with only foreigners and over paying for the same thing in other areas that is much less expensive.

I know the area of this property. It is a fantastic area near Universidad de Palermo and not far from Alto Palermo shopping mall. I love that area!

 

[Betsy Ross]

I agree with your assessment of Palermo Soho as "Disneyland". It is nice for a dinner or drinks with my friends but everything is over priced in that area. I had an ice cream the other day and it was very expensive. The same thing in other neighborhoods is much less expensive. Even for tourists I don't understand why they want to stay in an area with only foreigners and over paying for the same thing in other areas that is much less expensive.

I know the area of this property. It is a fantastic area near Universidad de Palermo and not far from Alto Palermo shopping mall. I love that area!

This is a great area. There is a hospital right around the corner that is excellent. My best friend had to take her child to the doctor and they did a CT scan on the spot. That area is very good and close to public transport and not too busy. A good area.

 

[Gringo]

I love those floor plans! They help visualize the lay out and what the room will look like. I'm not sure why more people don't use 3d floor plans. That place looks fabulous. When will that place be ready? Do you have pricing for it you can share?

 

[Howard Stern]

I'm not sure where that is but the apartments look beautiful!

 

[earlyretirement]

Wow! Looks incredible! Thanks for sharing! Is that penthouse still for sale? How many units are on the penthouse level? That street looks nice. I like that the building is all up already. Will they really finish by August 2024?

Thanks everyone for the nice comments. Yes, it's a great building. It's constructed by one of my long term 21+ year partners GyD Developers. I am planning on building my first luxury residential tower and I plan on using them to construct it. It's been a 21 year dream of building my own building. I've spent over $100 MILLION dollars financing other people's properties. I thought it was finally my turn to build one.

I bought several units in this building for myself and I also purchased many others for investors of mine. The building is zoned with the by-laws as a short-term rental building. I am creating a branded website for the building and I'll most likely manage the entire building for clients that retained me to purchase for them.

Both penthouse units are already purchased. Yes, they will finish by August 2024. Most developers are always late but this entire structure is all up. They have 2 show rooms built. There aren't too many units left. ALL of them will make amazing luxury Airbnb units.

I love those floor plans! They help visualize the lay out and what the room will look like. I'm not sure why more people don't use 3d floor plans. That place looks fabulous. When will that place be ready? Do you have pricing for it you can share?

Yes, I think it should be a requirement for all owners to get 3D to scale floor plans. In fact, I'm planning on building a new real estate portal in Argentina in 2024 and it's going to be amazing. It will have video walk throughs, 3D floor plans, 2 D floor plans with measurements, Google Street Map view, drone views from the apartment, multi-currency, multi-language. It's going to be pretty awesome!

All the existing real estate websites suck.

 

[BuySellBA]

Although they are still building the building and have yet to finish the inside of the building, the entire structure is up. The building will definitely finish on time by August 2024.

You can see the massive amount of construction that has already been completed here. We have been watching and waiting and assembling photos like we always do with every project that we buy into: https://photos.app.goo.gl/nP3fcjzmseEyhryF9

They also have 2 beautiful show room apartments done so you can get an idea of the fit out of it.

Showroom Studio Unit:

Showroom 1 Bedroom Unit:

GyD Developers (https://www.gddevelopers.com/home) have been a trusted @BuySellBA partner for the past 21+ years. We have purchased several millions of dollars of properties with them and they are one of the most trusted developers in Buenos Aires. They have been around for 41 years. We are friends with the owners, Gabriel Mayo and Daniel Mintzer for 21+ years.

As always, you are more than welcome to contact the developer directly but BuySellBA gets special volume discounts as we are purchasing so many properties with them. They know the BuySellBA team well and we can more than save you money retaining our firm. We are the true experts on Buenos Aires real estate for over 21 years. Contact us at info@buysellba.com for more information.

 

[Starfish]

I bought an apartment with GyD Developers back in 2006 in the Palermo Uno Tower (Uriarte 2349). That is one of the tallest skyscrapers in Palermo. The apartment was great. I rented it on Airbnb for many years. I sold it in 2019 for almost 3 times what I paid. I know from my experience buying that unit they are very honest people. The inside of these model apartments looks like the same as the inside as my old apartment. I never had any issues at all with my apartment. I will take a look at this property next week.

 

[earlyretirement]

I bought an apartment with GyD Developers back in 2006 in the Palermo Uno Tower (Uriarte 2349). That is one of the tallest skyscrapers in Palermo. The apartment was great. I rented it on Airbnb for many years. I sold it in 2019 for almost 3 times what I paid. I know from my experience buying that unit they are very honest people. The inside of these model apartments looks like the same as the inside as my old apartment. I never had any issues at all with my apartment. I will take a look at this property next week.

Ha, ha. My company was the largest buyer of Palermo Uno. At pozo stage before they even broke ground in that building, we purchased up much of that building. I personally owned 5 units in Palermo Uno. I bought up much of that building. I sold ALL of my units in 2018/2019 at the high. What price did you sell your unit @Starfish ? You can DM me if you don't want to post publicly. Which floor plan did you own? I bought the E and F units. I sold all my F units for around $200,000 @.

 

[Starfish]

Ha, ha. My company was the largest buyer of Palermo Uno. At pozo stage before they even broke ground in that building, we purchased up much of that building. I personally owned 5 units in Palermo Uno. I bought up much of that building. I sold ALL of my units in 2018/2019 at the high. What price did you sell your unit @Starfish ? You can DM me if you don't want to post publicly. Which floor plan did you own? I bought the E and F units. I sold all my F units for around $200,000 @.

@earlyretirement Wow. I never lived in this unit. I also rented it out. I had a property manager that rented out many in this building. You probably know him. I was charging $120 USD per night and my apartment was rented about 21 days each month. I probably had a blended nightly rate of $85 per night. I bought it for about $58,000 and I sold it for $187,000 in April 2019. It had already paid for itself a few times while I was the owner.

I moved back to Miami right before Covid and thankful on my timing. Now I am back living in BA but my lease ends in March 2024. So I will buy something else now before my lease ends.

 

[earlyretirement]

@earlyretirement Wow. I never lived in this unit. I also rented it out. I had a property manager that rented out many in this building. You probably know him. I was charging $120 USD per night and my apartment was rented about 21 days each month. I probably had a blended nightly rate of $85 per night. I bought it for about $58,000 and I sold it for $187,000 in April 2019. It had already paid for itself a few times while I was the owner.

I moved back to Miami right before Covid and thankful on my timing. Now I am back living in BA but my lease ends in March 2024. So I will buy something else now before my lease ends.

Congrats! You sold at the peak of the market too. That was after the Macri tax amnesty and a LOT of local Argentines were bringing in tons of their cash and had to buy something with the funds. Most Argentines wanted high yielding ROI % and all of my properties I could show how much net income it made. I kept very clean books with all the full records. It was beautiful. But I figured that was peak and I wanted to invest the funds in Mexico. So the properties I bought in Mexico in 2018 have more than doubled since I bought there.

My personal investment thesis/philosophy is I don't sell an investment property unless I can yield a better total ROI somewhere else. My property in the USA that I bought at the bottom in 2011 has 3X and I sold all of it off earlier this year and now I'm deploying those assets in Buenos Aires again.

It sounds like you sold your apartment as an "investment" with all the furniture, etc. If you sold it at that price it had to be fully furnished. I did that as well. Plus I had something like $15,000 US in future bookings already so it was a discounted price for the owner.

Here is the F units that I sold. Mine were on high floors. I owned several on 21st floor and 22nd floor - https://es-l.airbnb.com/rooms/11807..._TWqUHLwfjs9l3CZK&modal=PHOTO_TOUR_SCROLLABLE

@Starfish you are very wise for buying now at the bottom. It's going to go straight up again after a few years so we're just doing it all over again. This time around for a little over $200,000 I'm getting a full 2 bedroom 2 bathroom in a brand new building. I aim to charge $200 US per night on the rentals.

 

[Canada Goose]

Congrats! You sold at the peak of the market too. That was after the Macri tax amnesty and a LOT of local Argentines were bringing in tons of their cash and had to buy something with the funds. Most Argentines wanted high yielding ROI % and all of my properties I could show how much net income it made. I kept very clean books with all the full records. It was beautiful. But I figured that was peak and I wanted to invest the funds in Mexico. So the properties I bought in Mexico in 2018 have more than doubled since I bought there.

My personal investment thesis/philosophy is I don't sell an investment property unless I can yield a better total ROI somewhere else. My property in the USA that I bought at the bottom in 2011 has 3X and I sold all of it off earlier this year and now I'm deploying those assets in Buenos Aires again.

It sounds like you sold your apartment as an "investment" with all the furniture, etc. If you sold it at that price it had to be fully furnished. I did that as well. Plus I had something like $15,000 US in future bookings already so it was a discounted price for the owner.

Here is the F units that I sold. Mine were on high floors. I owned several on 21st floor and 22nd floor - https://es-l.airbnb.com/rooms/11807..._TWqUHLwfjs9l3CZK&modal=PHOTO_TOUR_SCROLLABLE

@Starfish you are very wise for buying now at the bottom. It's going to go straight up again after a few years so we're just doing it all over again. This time around for a little over $200,000 I'm getting a full 2 bedroom 2 bathroom in a brand new building. I aim to charge $200 US per night on the rentals.

Wow that is SOME view! Congrats on that flip. It sounds like a great rental apartment. I saw many units in that building. Is that the building with the blue glass facade? I am trying to rent there for my last few weeks.

@BuySellBA are there any more 2 bedroom units in this building listed above on this thread?

 

[earlyretirement]

Wow that is SOME view! Congrats on that flip. It sounds like a great rental apartment. I saw many units in that building. Is that the building with the blue glass facade? I am trying to rent there for my last few weeks.

@BuySellBA are there any more 2 bedroom units in this building listed above on this thread?

Hi Canada Goose,

Yes, the ones that I sold are in a building called Palermo Uno located at Uriarte 2354. I bought many units in that building. Many of my clients still own in that building and the rentals are rock solid. I just figured that the peak was 2018/2019 and I correctly predicted it. DM me, I have some friends that own many units in that building and I can see if there is anything for you.

In this MEET Palermo building I just purchased another 2 bedroom unit yesterday on the 6th floor. I believe there is only one more 2 bedroom unit available and that is on the 5th floor. That's the last 2 bedroom left. I purchased up many units. The 2 bedrooms should be the most desirable from an ROI standpoint on luxury rentals. There aren't too many of them on the Airbnb market compared to studio and 1 bedroom units. So there is a lot less competition.

The list price was $218,900 on that 2 bedroom unit but contact me and I can get discounted pricing as I'm buying up so many in that unit. Cheers.

 

[Canada Goose]

Hi Canada Goose,

Yes, the ones that I sold are in a building called Palermo Uno located at Uriarte 2354. I bought many units in that building. Many of my clients still own in that building and the rentals are rock solid. I just figured that the peak was 2018/2019 and I correctly predicted it. DM me, I have some friends that own many units in that building and I can see if there is anything for you.

In this MEET Palermo building I just purchased another 2 bedroom unit yesterday on the 6th floor. I believe there is only one more 2 bedroom unit available and that is on the 5th floor. That's the last 2 bedroom left. I purchased up many units. The 2 bedrooms should be the most desirable from an ROI standpoint on luxury rentals. There aren't too many of them on the Airbnb market compared to studio and 1 bedroom units. So there is a lot less competition.

The list price was $218,900 on that 2 bedroom unit but contact me and I can get discounted pricing as I'm buying up so many in that unit. Cheers.

Ok thanks! I will go and see it. Are there any high floor 1 bedroom units left on the high floor? Is that unit left still from that video next to the 2 that you own? You can DM me. Thanks. I'm looking forward to our consultation tomorrow.

 

[BuySellBA]

Ok thanks! I will go and see it. Are there any high floor 1 bedroom units left on the high floor? Is that unit left still from that video next to the 2 that you own? You can DM me. Thanks. I'm looking forward to our consultation tomorrow.

I don't believe there are any higher floor 1 bedroom units besides a resale unit that the developer has already sold and now the owner is flipping it. It was great chatting with you on the phone this week. Let us know if you have any questions. Thanks for your trust and business. It's valued and appreciated.

 

[Billy Goat]

Hi Canada Goose,

Yes, the ones that I sold are in a building called Palermo Uno located at Uriarte 2354. I bought many units in that building. Many of my clients still own in that building and the rentals are rock solid. I just figured that the peak was 2018/2019 and I correctly predicted it. DM me, I have some friends that own many units in that building and I can see if there is anything for you.

In this MEET Palermo building I just purchased another 2 bedroom unit yesterday on the 6th floor. I believe there is only one more 2 bedroom unit available and that is on the 5th floor. That's the last 2 bedroom left. I purchased up many units. The 2 bedrooms should be the most desirable from an ROI standpoint on luxury rentals. There aren't too many of them on the Airbnb market compared to studio and 1 bedroom units. So there is a lot less competition.

The list price was $218,900 on that 2 bedroom unit but contact me and I can get discounted pricing as I'm buying up so many in that unit. Cheers.

That Palermo Uno was a very popular unit! My American friend owns an apartment in this building. It rents VERY well. I'm envious that he bought one for very cheap prices. He has many tourists that have offered to buy it from him. At prices much higher than he paid. He said something like almost 3 X what he paid for it.

 

[Post-it]

Haha, I bought a small unit in Palermo Uno, piso 22, 'en pozo' through BuySellBA in 2007/8. Still have it and use it 4-5 months per year since my retirement. The rest of the year it's rented. Very easy to rent; according to guests: 1. location 2. view 3. gym 4. pool. More or less as Michael told me 15 years ago!
Considering the location, the new building will be brilliant for rentals. I stayed this year a few days in an apartment in a brand new building fully dedicated to AirBnb short term rentals. Clean, quite spacious, fully equipped etc, but crazy cheap (usd 28/day). Cheap and not well rented....My conclusion: wrong location (next to Tunnel del Libertador). Location is still king.

 

[earlyretirement]

Haha, I bought a small unit in Palermo Uno, piso 22, 'en pozo' through BuySellBA in 2007/8. Still have it and use it 4-5 months per year since my retirement. The rest of the year it's rented. Very easy to rent; according to guests: 1. location 2. view 3. gym 4. pool. More or less as Michael told me 15 years ago!
Considering the location, the new building will be brilliant for rentals. I stayed this year a few days in an apartment in a brand new building fully dedicated to AirBnb short term rentals. Clean, quite spacious, fully equipped etc, but crazy cheap (usd 28/day). Cheap and not well rented....My conclusion: wrong location (next to Tunnel del Libertador). Location is still king.

Now I'm VERY curious to know who you are @Post-it ! I will send you a DM. I bought several on the 22nd floor so that doesn't even narrow it down! Ha, ha.

Yes, Palermo Uno was great. I think I ended up buying almost 20% of that building at the beginning. It was crazy! I knew it was too good of a deal and should have purchased the entire building. I also bought up many units at Guatemala 4551 which was VERY good but that building ended up restricting short-term rentals! Thank God I sold my unit as now the clients ONLY can do long-term rentals which aren't nearly as lucrative.

That is why it is VERY essential to buy in a building dedicated to short-term rentals so the HOA rules are established from the beginning like that. I can NOT emphasize that enough. Even newer buildings keep in mind that if they don't allow short-term rentals in the building it can be restricted later. It's essential that it's allowed in the beginning. In many nice newer buildings, the issue is wealthy locals move in and they do NOT want short-term rentals. GyD also developed Guatemala 4551 which was very nice and I used to own 4 units personally in that building as well. I purchased up many units for investors and some still own there but their ROI these days isn't as good renting long-term. They restricted Airbnb rentals I think in 2019 or so. I bought up many units in that one including the Penthouse too. https://buysellba.com/palermo-soho-4-br-ph

I also found a wealthy buyer to purchase that unit. It set a record at that time for the most expensive apartment sold in Palermo Soho at that time.

ALL of the 1 bedroom units that I used to own and that I purchased for clients were this model - https://buysellba.com/palermo-soho-1-bedroom. (I got an INSANE price at the top of the market in 2019 for them. I sold all 4 of my personal units).

Here is the 2 bedroom units that I purchased. Several of my investors still own it as they stay in it several months a year and rent out on longer term contracts when they aren't using it - https://buysellba.com/palermo-soho-4551

 

[Colin]

Bummer Guatemala 4551 isn't available for short-term. I stayed in that tower before COVID. I think some owners are still renting short-term on the down low. My friend definitely stayed there less than 6 months. He was here for 1 month and rented a 1 bedroom unit.