Notice according to § 12 (2) VermögensanlagengesetzThis investment involves considerable risk and may result in partial or total loss.
The project "Elsenstraße 74" is a residential and commercial building in the up-and-coming Berlin district of Neukölln, which is being renovated and extended with an attic conversion. In addition to the existing 20 residential and 2 commercial units, 2 exclusive penthouses with a breathtaking view over the district are being built not far from the city center. Not only the structural characteristics of the existing building are convincing here, but also the excellent location of the project in terms of transport.
Within the scope of the development project, in addition to an existing area of 1,290 m², an additional 231 m² of usable living space will be created, bringing the total usable area to around 1,521 m². The expansion is a 100 percent residential use. The apartments are accessed via two staircases and each has a balcony or loggia facing Elsenstrasse in the front building. The Issuer is selling the top floor of the subject project unfinished, but with building permits. A building permit for the attic conversion has already been obtained.
The purchase agreement has been concluded and the Issuer is already the owner of the property. Contracts for the construction measures for the renovation of the existing building have not yet been signed; preliminary negotiations are underway. The construction activities are expected to start in the 2nd calendar quarter of 2024 and should be completed by the 2nd calendar quarter of 2026.
Berlin is the capital and also a state of the Federal Republic of Germany. With around 3.8 million inhabitants, the major city is the most populous and, at 892 square kilometers, the largest municipality in Germany, as well as the most populous city in the European Union. The most important branches of Berlin's economy include tourism, the creative and cultural industries, biotechnology and health care with medical technology and the pharmaceutical industry, information and communications technology, construction and real estate, finance, trade, optoelectronics, energy technology, transport systems technology, and trade fairs and congresses. The city is one of the up-and-coming international centers for innovative company founders and start-up companies. Berlin records high annual growth rates in the number of employed persons as well as it is considered a world city of culture, politics, media and sciences. The local universities and research institutions, local sports and museums enjoy an international reputation.
Nothing is worth more than a good location. The project "Elsenstraße 74" is located in the middle of Berlin's trendy district Neukölln. Stores for daily needs, a variety of restaurants and cafés as well as cultural and public facilities such as theaters, cinemas, schools and kindergartens are in the immediate vicinity. Due to the proximity to the subway station Rathaus Neukölln (U7) and relevant bus lines, the location is excellently connected to the public transport network and the city center can be reached within 30 minutes. Spacious green areas such as Treptower Park and Görlitzer Park as well as small parks are within walking distance and invite to recreation and sports activities.
Where diversity meets innovation - this aptly describes the district of Neukölln and thus the location of the "Elsenstrasse 74" project. Neukölln is characterized by remarkable ethnic diversity, which fosters a pronounced openness to change and development among the population. The real estate market in Neukölln has also seen remarkable development in recent years. Due to its vibrant neighborhoods, multicultural atmosphere and proximity to other popular Berlin neighborhoods such as Kreuzberg and Friedrichshain, Neukölln has become a sought-after address for real estate investors and apartment seekers. The rising demand for housing has led to a significant increase in property values, especially in up-and-coming neighborhoods like Neukölln. Old industrial areas and vacant buildings are being converted into modern apartments, loft apartments and office space to meet the needs of the growing population and business community.
Treptower Park stretches along the banks of the Spree River over an area of about 88 hectares, making it one of the largest parks in Berlin. The park itself offers a wealth of recreational opportunities. There are extensive lawns, perfect for picnics and relaxation, as well as numerous hiking trails that lead along the riverbank and through dense forests. One of the most prominent landmarks in Treptower Park is the imposing Soviet Memorial. This monument was built in 1949-1954 and serves as a memorial to Soviet soldiers who died in World War II. The monumental ensemble impresses with a larger-than-life statue of a Soviet soldier protecting a German child and a long avenue of oak trees leading to a raised obelisk.
Görlitzer Park, colloquially known as "Görli," is one of the large parks and recreational areas in the adjacent Berlin district of Kreuzberg. It was created in the late 1980s and early 1990s after the demolition of the railroad facilities of the old Görlitzer Bahnhof. Since then, only the nearby Görlitzer Bahnhof subway station has borne the name Görlitzer Bahnhof. In the 14-hectare Görlitzer Park there is, among other things, a children's farm, several sports, play and football fields, two viewing mountains and a small lake. A special highlight of Görlitzer Park are the urban community gardens, where residents grow vegetables and herbs. These green oases give the park a unique atmosphere and promote community bonding.
Originally, Tempelhofer Feld Berlin was a parade and drill ground. On weekends and holidays - as soon as the military cleared the square - Berliners flocked from Berlin to Tempelhof in their thousands to spend their free time. In the early 1920s, Tempelhof Airport was built there. After the airport closed in 2008, Berlin reclaimed the 386-hectare open space and one of the world's largest centrally located buildings for public use. Today, the area offers a six-kilometer bike, skater and jogging track, two and a half hectares of barbecue area, a dog run of about four hectares and a huge picnic area.
The center is located on the historic grounds of the former Kindl brewery in Berlin-Neukölln, where it has been showing around five exhibitions a year since 2016. The ensemble of rooms, consisting of the machine house, brewhouse, tower and boiler house, is a hybrid cultural venue where architectural history and contemporary art come together in an exciting way. Monographic work shows and thematic group exhibitions by international artists of various genres are presented on the three floors of the listed engine house, which was remodeled on a private initiative. The location is also remarkable architecturally: with a ceiling height of 20 meters, the boiler house offers a unique setting for site-specific works that engage with the spatial situation.
The Hufeisensiedlung in the Britz district of Berlin's Neukölln borough is a social housing estate built between 1925 and 1933. It has been a UNESCO World Heritage Site since 2008. It was built according to the plans of the architect Bruno Taut, the architect and later Berlin city architect Martin Wagner and the garden architect Leberecht Migge. It is one of the first projects of social housing and is considered an icon of modern urbanism and New Building. It is characterized by its clean lines, flat roofs and colorful facade design. The Hufeisensiedlung was a pioneering experiment in social housing and still demonstrates the importance of modern, functional design in urban environments.
Fourreal meets the challenge of contemporary space creation with the new construction or revitalisation of high-quality residential properties. When it comes to real material assets, Fourreal is the right contact. Since its foundation, the focus has been on project realisations in inner-city areas as well as on the development of living space in locations with a special quality of life. In addition to project development of upmarket residential properties, Fourreal concentrates on investments in properties for its portfolio. Precise property research and direct, compact planning enable the elimination of intermediate interfaces and thus maximum cost efficiency. Good creditworthiness and financial resources enable quick and flexible decisions.