Korsörerstr. 17

The Building

Korsörerstr. 17, Berlin Prenzlauer Berg – Prime Location Apartments for Sale in The Heart of Berlin  

• 1-4 room Apartments in a Great location just near Mauer Park
• Discount prices below market average – from 45,000 EUR equity
• Inspiration’s Complete Management Suite with financing available for international investors.
• The Altbau property is being renovated by Inspiration.

The property

This 34 apartments Altbau property was built in 1900, and is currently being renovated by Inspiration Group. The modernization of the building includes the renewal of all the property’s facades, common areas and stairwells.
A modern central gas heating system has been installed in the property in 2009.

The Building’s image gallery:

The Area

Korsörerstr. 17 is The Centrally located neighborhood of Prenzlauer Berg, adjacent to Mitte, is one of the most popular neighborhoods in the city, attracting young affluent residents. A large number of restaurants, coffee shops, galleries, pubs and boutique stores create the unique life style characteristic of this chic neighborhood.

Part of the micro neighborhood of Gleimkiez, Korsörerstr is located on a cul-de-saq, between the Kopenhagener and Galiemstr- streets which are dotted with many caffee shops and leisure venues.

The property is located right next to the entrance of the famous Mauer Park, which hosts especially during the summer months an array of vibrant cultural happenings. In the area of the park just adjacent to the building there is a charming animal farm, ideal for daily activities for children and on the other direction the Green Falk Platz.

The popular street Schonhauser Allee is situated just 5 minutes’ walk from the building, with S- Bahn and U- Bahn metro stations and the shopping mall Schonhauser Arkaden. Fashion buffs will be happy to hear that Zalando’s headquarters are situated just round the corner from the property.

The Apartments

Apartments in the property range in sizes from 37 SqM studios to spacious 144 SqM, 3 bedroom apartments.

All units are being marketed at discount prices compared to the neighborhood. Four apartments out of the 34 units in the building are currently vacant.

Korsörerstr. 17 present a unique investment opportunity. Prices of vacant apartments in the immediate vicinity surpass 4,000 EUR/SqM, while apartments in the project are being marketed between 2,000 EUR – 3,000 EUR. This gap reflects the substantial capital-gain potential of the investment.

To view the floor plans click here

The Building’s image gallery:

Click here to download the Expose

Click here to view the area Map

Property Management

In Inspiration Group we believe that purchasing the property is only the first step in the investment. Managing it successfully and optimizing yields, independent of market conditions, is what determines the overall performance of the investment.

For this reason we offer our investors a complete management package, and have founded our own maintenance company:

We directly manage the apartments and the building, collecting from the tenants rent and taxes, and perform regular maintenance of the property.

• Supervision over the apartments and tenants.
• Locating new tenants in case of termination of lease. We will ensure the the quality of the tenants and the new lease.
• Raising of rents in accordance to legal regulations.
• Analysis of market trends, consulting investors concerning resale opportunities and strategies.
• Vacating of tenants in accordance regulations.
• Renovation of apartments.
• Marketing and reselling.
• Refinance services.

Financing

An initial payment of 20% of the purchase price will be deposited into a notary account within a week of signing the contract. The Additional 80% will be deposited in the account after the sale of all apartments, following a notice from Inspiration Group. In the case of taking a loan, the 2^nd deposit will determined according to the sum of the loan taken.

Loans
It is possible to receive a 40%-50% loan from a German bank. Our investment consultants will assist you in choosing the most suitable loan.

Additional Services
We have created a one stop management package for our investors which includes: re-renting apartments, brokaerage services, supervision of refurbishments, opening bank accounts, submitting tax returns, etc.