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Recoleta: What is being built in an emblematic building located on Las Heras, meters from La Isla - La Nacion Propiedades
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Recoleta: qué se construye en un emblemático edificio ubicado sobre Las Heras a metros de La Isla
La exclusiva zona de La Isla en Recoleta recibe la construcción de un nuevo proyecto que tendrá vistas a la Biblioteca Nacional y a la Plaza Francia; los diferentes precios de las propiedades en el barrio según las calles, las cuadras y manzanas
www.lanacion.com.ar
April 9, 2024
The exclusive area of La Isla in Recoleta receives the construction of a new project that will have views of the National Library and Plaza Francia; the different property prices in the neighborhood according to the streets, blocks and blocks.
By Candelaria Reinoso Taccone
The Costanera Building, on the corner of Las Heras and Agüero avenues, is being converted into a residential project that adds to the La Isla area in Recoleta
Located in just eight blocks between the Recoleta cemetery and the imposing National Library, embraced by Las Heras, Libertador, Pueyrredón and Agüero Street avenues , is La Isla de Recoleta , a microzone of great real estate value in the capital of Buenos Aires. Its location is mainly composed of cobblestone streets , wide sidewalks and its typical houses and buildings of classical architectural style .
This place, which today is mostly made up of imposing apartment buildings and embassies , has a history that dates back to the 19th century.
In its early days, Recoleta Island was populated by exclusive residences of the petit hotel type and mansions surrounded by parks. However, with the passage of time and the enactment of the condominium law in the 1940s, many of these luxurious houses were demolished to make way for high-class apartment buildings , which stand today as true icons. of the place.
The Island is mainly made up of cobblestone streets, wide sidewalks and its typical classic architectural style houses.
It has some stairs over a ravine that overlooks Avenida del Libertador.
Despite the changes over the years, Recoleta Island still retains its charm and elegance, becoming an exclusive and high-class residential area characterized by a quiet and wooded environment.
However, just a few blocks away, on the corner of Las Heras and Agüero avenues , passersby will have noticed the large signs surrounding the Costanera Building, the tower where until 2021 the Telecom offices were located . This 22-story, 72-meter-high building, which was built in 1979 with brutalist architecture typical of the time, is today being transformed into an emerging project that challenges the neighborhood's tradition.
Telecom used to have offices in the Costanera Building, on the corner of Avenida Las Heras and Agüero.
Currently, the tower is being transformed into an emerging project under the name Atrium La Isla
In front of Plaza del Lector and next to the Church of San Agustín, this iconic building is planned to be converted into a residential complex called Atrium La Isla, developed by ByB. Unlike the austere concrete structure that the tower currently presents, the new building will stand out for its modern and minimalist style, offering units from one to four rooms, with sizes ranging from 38 m² to 200 m². The approximate price per square meter starts at US$3000, while the sales values of the units start at US$163,000.
In addition to five commercial premises on the ground floor, Atrium La Isla will have 1,000 m² of amenities, including a spa with sauna, a terrace with a pool and views of the river, plus a complete gym, among others. Its location is another key factor, not only because of the views of the National Library and Plaza Francia, but also because of its accessibility to the main avenues: the project is located just 200 meters from Avenida del Libertador and 300 meters from Figueroa Alcorta .
The building will offer units from one to four rooms, with sizes ranging from 38 m² to 200 m².
It will have views of the river, the National Library and Plaza Francia.
Atrium La Isla will offer more than 1000 square meters of amenities
A tower in a petit hotels neighborhood
Although Recoleta does not escape the real estate transformations of CABA, the neighborhood is notably less saturated with developments compared to other traditional areas of the city , such as Palermo or Belgrano, and even with more recent areas such as Núñez and, in recent years, Little horse . “The scarcity of available land is a determining factor,” argues Gabriela Goldszer, director of Ocampo Propiedades, exclusive marketer of Atrium La Isla.
This phenomenon is due in part to the fact that Recoleta maintains its reputation as the “ Paris of America ”, thanks to the mansions and small hotels built between the end of the 19th century and the first decades of the 20th. “Although many of these traditional residences were demolished starting in the 1960s, today there is significant activism , similar to that seen in other parts of the city, aimed at preserving what remains and preventing future demolitions ,” he mentions. Martín Pinus, director of the homonymous real estate company. However, the expert assures that modernization cannot be completely stopped, which is why new real estate and hotel projects are expected to respect the classic style of existing mansions.
Recoleta maintains its reputation as the “Paris of America”, thanks to the mansions and small hotels built between the end of the 19th century and the first decades of the 20th century.
Specific examples of new projects that made a place for themselves in the Recoleta neighborhood are Callao Clásico and Decó Recoleta . The first, which will begin to be delivered at the end of 2024, is located between Alvear and Quintana avenues. This 15-story building will offer one- to four-bedroom apartments and even penthouses, with an average value per square meter of US$5,400. On the other hand, Decó Recoleta, recently completed, is a project by ABV Arquitectos located in front of the cemetery. This building offers units from one to three rooms, with total surfaces that vary from 38 m² to 226 m² and values around 5000/m². Both projects are marketed by Ocampo Propiedades.
Despite the persistent resistance to blurring the traditional imprint of the neighborhood, which remains in high demand for both housing and investment , Pinus points out a double movement with respect to new real estate projects. “New constructions that do not conform to the architectural style of the area usually arise on land previously occupied by restaurants or other less relevant buildings in terms of architectural heritage . These projects are usually high-end - due to the high cost of land -, driven by the scarcity of available space and growing demand, both in comparison with other neighborhoods in the city of Buenos Aires and within the northern corridor of the Federal Capital. , Explain.
Decó Recoleta, recently completed, is a project by ABV Arquitectos located in front of the cemetery and La Biela
The impact of land in Recoleta is significant . This neighborhood has one of the highest prices per square meter, which is directly reflected in the final price of the properties that are marketed. “The quality of the land and its exact location are determining factors,” says Damián Tabakman, president of the Chamber of Urban Developers (CEDU). “In Recoleta, the valuation varies depending on whether the land is located on an avenue or on a corner. The incidence is around US$800/m² on average, and can reach up to US$1,200/m² in especially attractive land ,” he adds.
“Although some land may have potential for construction, the associated costs and uncertainty in the market make developers cautious,” Aníbal Montes, director of RGM Propiedades. However, he mentions that in less exclusive areas, commercial activity is observed, suggesting a prospect of stabilization in the real estate market as prices and sales adjust .
In addition, the low availability of supply naturally allows for stronger prices per square meter to be maintained. “Despite the current context, this premium segment can sustain higher prices due to its unique characteristics, such as its extensive amenities spaces and its triple front, which makes it an attractive option for buyers,” says Montes. “The values vary depending on the age, condition, size and location of the department. Brand new units can exceed US$3,500/m²,” adds Pinus.
Who wants to live in Recoleta
The demand for apartments in Recoleta comes from families and couples who want to stay in the neighborhood, as well as from the public from the interior of the country looking to settle in the Federal Capital.
Goldszer maintains that there is a market segment that has always been loyal to Recoleta and Barrio Norte and points out: “Any project carried out in these neighborhoods is highly appreciated by a more conservative public, which values stability and proximity to theaters, universities and schools. , as well as the city center . Given the lower number of new constructions, each development in these locations generates great interest and attraction, even if their prices are somewhat higher.”
On the other hand, Pinus highlights that the demand for apartments, both traditional and new, in Recoleta comes from families and couples who want to stay in the neighborhood, as well as from the public from the interior of the country who seeks to establish themselves in the Federal Capital , either for permanent residence, temporary rental or tourism. “In this sense, Recoleta retains its strategic position due to its security, easy accessibility and proximity to the main cultural and tourist attractions of the city,” adds the expert.
The streets near the Duhau Palace, the Jockey Club, the Alvear Hotel and those that surround Plaza Vicente López are highly sought after for their prestige and real estate convenience
A no less important fact is that the location in this neighborhood plays a crucial role in determining the final sale price . The disparity between a French-style apartment on the distinguished Alvear Avenue and a similar one on the busy Santa Fe Avenue is evident. “Prices fluctuate significantly depending on the street and even the specific block, as is the case with the coveted locations in Alvear, Schiaffino, Posadas and Ayacucho. Likewise, the streets near the Duhau Palace, the Jockey Club, the Alvear Hotel and those surrounding Plaza Vicente López are highly sought after for their prestige and real estate convenience,” explains Pinus.
The difference in prices between different locations in the Recoleta neighborhood is notable. For example, the building where Bioy Casares and Silvina Ocampo lived on Posadas, in front of Plaza San Martín de Tours, offers 600 square meter apartments for around US$4.7 million, which raises the price per square meter in the heart of the city. from Recoleta at US$7800 . On the other hand, in Posadas and Ayacucho, a 274 square meter apartment is sold for US$1.5 million, estimating the value per square meter at US$5,400, well above the neighborhood average.
In contrast, in Guido and Montevideo , where the buildings do not boast a distinctive style, the price per square meter is significantly lower, around US$2,800 . Meanwhile, in Laprida and Juncal , the value drops even further, reaching approximately US$2,100 per square meter. Finally, in less exclusive locations such as Santa Fe and Callao , the price drops even further, with an estimated value of US$1900/m².
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