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The new area of Palermo that is growing with high-rise housing projects and promises to become the most trendy in the neighborhood - La Nacion Propiedades
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La nueva zona de Palermo que crece con proyectos de casas en altura y promete convertirse en la más trendy del barrio
Los emprendimientos sumarán unidades amplias, oficinas, un rooftop y hasta podría incluirse un hotel con vistas panorámicas a la ciudad: cuánto cuesta un departamento
www.lanacion.com.ar
February 27, 2024
The developments will add spacious units, offices, a rooftop and could even include a hotel with panoramic views of the city: how much does an apartment cost
By Mercedes Soriano
The new Palermo, the aerial view and the new projects
It changes its name and buildings but maintains its essence. The blocks that at some point were designated as dividing Palermo Hollywood and Palermo Soho had their identity rebranded and the real estate sector renamed them Palermo Green . This is an area where new premium projects are flourishing, some of which embrace the new concept of “high-rise homes.”
Future new homes and offices will benefit from the wave of changes that transforms this new Palermo epicenter. In that sense, the area consolidates its reputation as a trendy hub with the viaduct works that add new gastronomic offerings and revalue the area.
“The Palermo spill was quite consolidated towards Niceto Vega Avenue and towards Córdoba, added to the fact that the Córdoba and Juan B. Justo bridge was eliminated , which makes that area much more attractive and open for developers to begin to appreciate it. and look to build there,” says Rodrigo Saldaña, commercial manager of Oslo Propiedades.
The area today stands out among others in development in the city of Buenos Aires because it concentrates all the fashion concepts that are aspirational and sought after when buying an apartment.
The area today stands out among others in development in the city of Buenos Aires because it concentrates all the housing concepts that are aspirational and sought after when buying an apartment.
The projects that unite the two Palermos
Passersby of Juan B. Justo can easily spot one of the new projects that adds to this union of the two Palermos. The façade departs from the traditional line and simulates cubes stacked one on top of the other. This is Qiub Humboldt , a 16,000 square meter project in which the developer BW Group will invest a total of US$50 million.
The 29-story tower will not only mark its presence in height, but its construction also leaves a green footprint in the city: it will provide an urban-scale public space at the intersection of Juan B. Justo and Honduras and will create an interior street that links that new public space with Humboldt Street. Without a doubt, the proximity to large green spaces is one of the keys that promise the prosperity of the new Palermo projects.
The Qiub project will have the highest roofbar in PalermoGonzalo Colini
Another key that is already strong in the area of influence is the presence of commercial avenues . In this case, the same project will have its own street dedicated to this activity: it will be formed in this interior road that will serve as a “neighborhood solution” for the new neighbors. “Thus, the tower appears as a reference point and meeting space , located at the entrance to Palermo Hollywood, with its offer of restaurants and all the activity of the audiovisual district,” details Ariel Wasserman, president of the developer.
Views of avenues in Palermo and Colegiales booming for the real estate market
“The project has a particular characteristic which is that it faces three streets , each with different characteristics. While Humboldt and Honduras are closely linked to the activity of the neighborhood fabric - with a gastronomic commercial imprint and its activity within the audiovisual pole -, Juan B. Justo Avenue, with its Metrobús line, is a quick connection route," he details. the president of BW Group.
A submarket that is trending in the real estate sector is temporary rentals , which gained popularity due to the effects of the Rental Law, now repealed . In the building marketed by the Interwin real estate company, different activities will coexist and among them there will be space for these units. In addition, there will be an abundance of offices, homes with up to four rooms and commercial premises.
“On the one hand, the tourist neighborhood face will be in perfect harmony with the residences, commercial premises and the possible hotel destination of the highest meters and rooftop . On the other hand, the face on Juan B. Justo Avenue, with the connectivity with the rest of the city, will dialogue with the corporate profile of the offices and garages of the central body of the building," says Lorenzo Raggio, general manager of Interwin, real estate agency that markets the project.
“For residences, we think of a young public and, in terms of offices, according to our own surveys, there are many companies interested in leaving the old corridors like Catalinas to move north ,” Wasserman completes, highlighting the proximity to trains, subways and Metrobús.
Juan B. Justo Avenue on the corner of Honduras, an area in full transformation
To serve this new community, the building that estimates delivery of assets by early 2025 will have five underground parking spaces for offices. This takes away the thorn in the side of those who work in the area and cannot find a place to park easily.
As for values, the one- and two-bedroom apartments measure between 36 m² and 73 m² and tickets are sold in a range between US$120,883 and US$253,107. For their part, the smallest offices start at 80 m² with a value that is close to US$265,000, while the largest ones of 262 m² are sold for US$1.09 million.
The flowering of the area is latent and specialists in the real estate sector are betting that it will be reinforced with the gastronomic offer. “When we acquired the land and thought about the project, we did not know that the area was going to become what it will surely become when the viaduct plazas are developed and when the nightclubs that are still there finish moving , as happened with the wineries” , Wasserman points out and reveals that the original project, which included movie theaters, was rethought after the pandemic.
In fact, the real estate venture will have a sky bar on its rooftop at the top of its last cube , a space that is becoming increasingly fashionable around the world. “ There are interested parties and advanced conversations with different hotel groups to convert the last cube of the tower into a hotel and rooftop ,” says Raggio.
The development of Palermo Green is not limited to the avenue, but the surrounding streets are also thriving with new projects. For example, in the first quarter of 2025 the Sens Humboldt units would be delivered , a project named after the street on which it is built, parallel to the avenue.
The area has projects underway with multimillion-dollar budgets
This building will add large units to the market, another of the keys that already resonate in different parts of the city . The first four levels have three-bedroom duplex units; The fifth level has four rooms on a single floor; and finally, on the last three levels, there are five four-room apartments in triplex with their own terrace. The building, marketed by Ocampo Properties, is already 80% sold and in this instance the average price per square meter is US$3,500.
The developer has another project in its hands in this radius of influence: Sens Luxury Homes , which has access to Godoy Cruz Street and Soler Street and will require an investment of US$90 million. Ignacio Trabucchi is Commercial and Strategic Planning Director of ATV and purchased five plots of land totaling 5,000 square meters of land, on which the project will be located.
Aligned with the rest of the brand's projects, it seeks to add 95 “high-rise homes” to the market , which in this case range from three-bedrooms of 120 square meters to triplexes of 580 m². The average price per square meter is US$3,800.
“The delivery of units would take place in the second half of 2026,” anticipates Gabriela Goldszer, director of Ocampo Propiedades.
Some of the new projects add "high-rise houses" with units of up to 580 square meters
The project has a strong green imprint , a highly sought-after attribute after the outbreak of the pandemic. 65% of its masterplan includes public green spaces with other uses and will have an extensive central park that will nourish it with its own green spaces. From its conception, the project was designed around an internal park and an external park.
“60% are already sold and most of its buyers are attracted by the feeling of spaciousness and tranquility that they achieve through its large windows and the almost total absence of walls . With views of the squares and the extensive central park that surrounds the building,” details Goldszer.
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