A development and asset management company has closed the purchase of a residential building in the Chamberí district (Madrid) from a family office. The total investment reached 9 million euros, according to Brainsre.news. TC Gabinete Inmobiliario advised on the off-market transaction.
The asset has a surface area of 2,400 square metres and 28 two- and three-bedroom flats, with areas of 60 m2 and 90 m2, respectively. The property has an approved refurbishment project and licence, which, once completed, would increase its value.
The building is located at Calle Donoso Cortés 21, in the Arapiles neighbourhood in Chamberí. According to Brains Real Estate’s big data platform, the average listing price of a property is 4,863 euros per square metre. Considering that it is 2,400 square metres in size, its market value could reach over 11 million.
