Overview of Nyuukoopo Mei Minami 1 Ban Kan (ニューコーポ名南１番館)
Nyuukoopo Mei Minami 1 Ban Kan (ニューコーポ名南１番館) is a 38-year-old condominium located at Nagoyashi Minatoku Kiba Machi 2-8 (名古屋市港区木場町2-8), Aichi, Japan. Built in 1988, it comprises 233 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Arai Kumi (新井組).
Pricing & Floor Plans
Based on 64 past listings, prices have ranged from 650〜1,999万円 (approx. $43,333–$133,267 USD at ¥150/$).
Unit sizes range from 70.0–87.0 sqm (753–936 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 1LDK (1-bedroom w/ living-dining-kitchen), 4LDK (4-bedroom w/ living-dining-kitchen), 2LDK (2-bedroom w/ living-dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥19.4万/sqm (approx. $1,293/sqm or $120/sqft).
Location & Neighborhood
The property is located at Nagoyashi Minatoku Kiba Machi 2-8 (名古屋市港区木場町2-8), Aichi, Japan. It is a 13-minute walk to the nearest station. In Japan, station proximity significantly affects property values and daily convenience.
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 38 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 233 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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