Private investor from the US acquires residential and retail building in Berlin

Acting on instructions from a listed real estate company, Winters & Hirsch has brokered the sale of a mixed-use residential and retail building on Gotzkowskystraße in Berlin’s Moabit area (Mitte district) to a private investor from the United States.

The fully occupied building dates from 1907 and has 21 residential units distributed over 911 sqm and two commercial units on the ground floor with approximately 143 sqm. The rental space in the building amounts to 1,054 sqm approximate. The property has around 452 sqm of outdoor space.

The parties have agreed not to disclose the purchase price. The multiplier is 18.3 plus purchasing costs.

The property forms part of the Turmstraße conservation area created in 2011. An up-and-coming neighbourhood in the sought-after Moabit area, Gotzkowskystraße connects Moabit with the swank Charlottenburg area.

The notary Michael Ch. Bschorr of the Berlin-based law firm Wollmann & Partner has notarised the contract.