SYT - SYLA Technologies Announces Sale of Condominium Development Site in Shimo-Meguro Tokyo | Benzinga
TOKYO, Aug. 30, 2023 (GLOBE NEWSWIRE) -- SYLA Technologies Co., Ltd. (NASDAQ:SYT) ("SYLA" or "the Company"), operator of Japan's largest membership real estate crowd-funding platform, Rimawari-kun, announced its subsidiary, SYLA Co., Ltd. ("SYLA Co.") has sold a condominium development site in Shimo-Meguro 3-chome, located in Meguro-ku, Tokyo, Japan, on June 30, 2023.
As part of SYLA Co.'s real estate development and management strategy, it undertakes third-party projects and provides a comprehensive service for condominium development, leasing, and building management. In September 2021, SYLA Co. obtained a license for its Special Construction Business, which allows it to contract construction for other third-party condominium projects. Following the market strategy, SYLA Co. provides construction contracting services for new properties and planning proposals utilizing its condominium development capabilities and expertise.
Property Information and Sale Details
- Summary of the Land Sold
Location: 3-chome, Shimo-Meguro, Meguro-ku, Tokyo
Access Point: 10-minute walk from Meguro Station (JR Yamanote Line)
6-minute walk from Fudomae Station (Tokyu Meguro Line)
Site Sizing Area: 652.68 m2 (measured area) (including road setbacks)
Zoning: Commercial zone; 80% Building-to-land ratio; 500% Floor-area ratio - Buyer and Sale Price
Due to a confidentiality agreement with the ...