Overview of Esutagaaden (エスタガーデン)
Esutagaaden (エスタガーデン) is a 25-year-old condominium located at Sumidaku Oshiage 2 Choume 16-2 (墨田区押上2丁目16-2), Tokyo, Japan. Built in 2001, it comprises 193 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Taisei , Toubu Yachida Kensetsu (大成、 東武谷内田建設).
Pricing & Floor Plans
Based on 44 past listings, prices have ranged from 2,580〜13,800万円 (approx. $172,000–$920,000 USD at ¥150/$).
Unit sizes range from 38.3–90.4 sqm (412–973 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 1SLDK (1-bedroom w/ living-dining-kitchen + service room), 1LDK (1-bedroom w/ living-dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen), 4LDK (4-bedroom w/ living-dining-kitchen), 2LDK (2-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥157.0万/sqm (approx. $10,467/sqm or $972/sqft).
Location & Neighborhood
The property is located at Sumidaku Oshiage 2 Choume 16-2 (墨田区押上2丁目16-2), Tokyo, Japan. It is a 1-minute walk to the nearest station. This is considered excellent station access in Japan, where most daily errands are done on foot or by train.
Investment Perspective
Building depreciation: In Japan, buildings depreciate significantly over time. Wood-frame houses depreciate to near-zero value at around 22 years, while RC structures depreciate more slowly but still lose value. At 25 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 193 units, this is a relatively large condominium. Larger buildings typically benefit from lower per-unit maintenance and repair reserve costs.
Key cultural note: Unlike the US where properties typically appreciate over time, Japanese buildings depreciate while the underlying land tends to hold or gain value. This means buyers should evaluate the land-to-building value ratio carefully.
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