Overview of Mandai Gureesu (万代グレース)
Mandai Gureesu (万代グレース) is a 48-year-old condominium located at Niigatashi Chuuouku Mandai 2 Choume 3-34 (新潟市中央区万代2丁目3-34), Niigata, Japan. Built in 1978, it comprises 55 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Fukuda Kumi , Asazuma Kumi (福田組、 朝妻組).
Pricing & Floor Plans
Price range: 情報なし.
Estimated price per sqm: ¥24.0万/sqm (approx. $1,599/sqm or $149/sqft).
Location & Neighborhood
The property is located at Niigatashi Chuuouku Mandai 2 Choume 3-34 (新潟市中央区万代2丁目3-34), Niigata, Japan. It is a 15-minute walk to the nearest station. In Japan, station proximity significantly affects property values and daily convenience.
Investment Perspective
Seismic standards: Built in 1978, this property predates Japan's 1981 New Seismic Design Standards (新耐震基準). Buildings constructed before June 1981 were built to older earthquake resistance codes. Buyers should consider seismic retrofit status.
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 48 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 55 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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