Formart starts construction of 271 condominiums in Berlin-Mitte (DE)

As planned, formart GmbH & Co. KG, one of Germany’s leading residential real estate developers, has started construction of its project “The Mile!” at Chausseestrasse 37 in Berlin-Mitte.
The company will build 271 residential units, comprising a mix of highly-compact studios with areas starting at around 34 m², efficient apartment solutions, penthouse apartments of approximately 150 m², and duplex concepts. A further 7,300 m² will be earmarked for office and commercial space, and for car and bicycle parking.
“Following our successfully completed project ‘Chausseestrasse 121’, ‘The Mile!’ is a further highlight in the heart of Berlin and one of the biggest developments in the capital at the moment, with an investment volume of some €90 mln,” explains Benjamin Röhrborn, Manager of the formart Berlin-Brandenburg branch. “The Mile!” will close a further gap on the central axis between the two Berlin districts of Mitte and Wedding. “Completion of the four residential blocks is scheduled for fall 2016. A good 50% of the apartments have already been sold for an average price of €4,400 per/ m²,” Röhrborn says.
According to a market study by Bulwiengesa, Berlin-Mitte is one of the capital’s most dynamic locations. Apart from “The Mile!” project, there are currently 24 projects with over 1,600 residential units either in planning or under construction.
Source: formart