Prime Real Estate Opportunity in Athens' Monastiraki: Ideal for Boutique Hotel or Service Apartments

€2,550,000

20 Rooms
10 Bedrooms
6 Bathrooms
946 m² Total surface
946 m² Living area
237 m² Plot surface

Description

Nestled in the vibrant heart of Monastiraki, within Athens' bustling commercial triangle, lies a remarkable four-story building that once housed a prominent bank. Boasting a generous 946 square meters of space, this property presents an unparalleled opportunity for visionary investors and developers. The building features two elevators, ensuring easy access across all floors, enhancing its suitability for a variety of commercial endeavors. Its strategic location amidst the historical and cultural tapestry of Athens city center makes it an ideal candidate for conversion into a boutique hotel or high-end service apartments. Guests or residents will be captivated by the rich history and dynamic atmosphere surrounding the property. Further enhancing its potential, the building offers the possibility to expand with an additional two floors of 65 square meters each. This expansion capability provides a unique advantage, allowing for the accommodation of more guests or the addition of luxurious amenities to elevate the property's appeal. Monastiraki's allure, with its blend of ancient landmarks, bustling markets, and vibrant nightlife, attracts tourists and business travelers alike. Transforming this building into a boutique hotel or service apartments will not only capitalize on the area’s high foot traffic but also contribute to the revitalization of this iconic district. Seize this exceptional opportunity to create a prestigious address in one of Athens' most sought-after locations. This property promises not only a lucrative investment but also a chance to become a part of the rich narrative of Monastiraki. *The Energy Performance Certificate is currently being issued.

Features

Air conditionBalconyElevator

Engel & Völkers MMC Greece

+302111055000

Your advisor: Konstantinos Dimas

Property ID: W-02VBZA

Location: Athens, Decentralized Administration of Attica

The area of Psyrri is one of the oldest in the city of Athens. Its first historical record dates back to 1687. It is located in the historical centre of Athens next to Monastirkaki. Like all city centre neighbourhoods, it has gone through many changes that are really reflected in its architectural character. Neoclassicism and Athenian Modernism coexist in a unique way, with buildings that were previously hosting small industries and shops. The contemporary district of Psyrri is a gathering point for all the creative communities of the city, like artists, musicians and fashion designers, who often run their studios here, and of course this along with its cafes, restaurants and bars is a big draw for tourists. It is a must in the Athenian nightlife with a variety of options. It is excellently connected by public transport to the rest of the city and airport. Monastiraki Metro Station is only 5 min walking distance from the main square of Psyrri (Plateia Iroon). No doubt the area has one of the highest investment returns in the real estate market of Athens and it attracts the interest of many investors either from Greece or from abroad.

Commission details

Availability upon agreement. This material is based upon information, which we consider reliable, but because third parties have supplied it, we cannot represent that it is accurate or complete, and it should not be relied upon as such. This offering is subject to errors, omissions, and change of price or withdrawal without notice. Taxes, notary and registration fees shall be paid by the purchaser. The commission shall be paid by the seller and /or the buyer depending on the brokerage agreements in place.