New
New
Investment building in Psyri with Acropolis view
€1,650,000
- 12 Bedrooms
- 12 Bathrooms
- ~485 m² Total surface
- ~485 m² Living area
- ~134 m² Plot surface
Description
Located in the historic center of Athens, in the heart of the vibrant Psyri district, this four-storey building offers a unique redevelopment opportunity in one of the capital's most sought-after locations. The property comprises 485 sqm of built area, complemented by a 107 sqm semi-basement and 104 sqm of outdoor spaces, including terraces and balconies.
Constructed in 1959 with a solid reinforced concrete structure, the building is offered fully vacant and ready for complete renovation, providing the ideal foundation for a high-end development tailored to the new owner's vision.
Its layout and configuration offer exceptional flexibility, making it suitable for a boutique hotel, apart-hotel, luxury residential apartments, a private townhouse, or a mixed-use development, in line with the evolving demands of the Athens real estate market.
One of the property's most distinctive features is the unobstructed Acropolis view from the third and fourth floors. Combined with 104 sqm of terraces and balconies, these outdoor spaces become a true extension of the living and hospitality experience, thanks to Athens' Mediterranean climate and approximately 300 days of sunshine each year. The 64 sqm rooftop terrace offers exceptional potential for the creation of an exclusive rooftop lounge or bar with breathtaking views of the Acropolis.
The property is located just 600 metres from the Acropolis and within walking distance of Monastiraki Square, surrounded by Athens' vibrant dining, nightlife, cultural, and entertainment scene. Psyri continues to experience strong growth as both a premier tourist destination and one of the city's most attractive real estate markets.
The property benefits from complete legal readiness, with clear title, no encumbrances, and no tenancy issues, allowing for an immediate transfer of ownership. It can be acquired either as a direct real estate transaction or through the acquisition of the Greek company that owns the property, offering additional flexibility in structuring the investment.
Combining a prime location, unobstructed Acropolis views, generous outdoor spaces, and outstanding redevelopment potential, this is an exceptionally rare opportunity to create a landmark project with significant long-term investment value in the heart of Athens.
BalconyBasementTerraceOpen view
Property details
- Object type
Apartment house
- Bedrooms
12
- Bathrooms
12
- Number of Floors
5
- Total surface
~485 m²
- Living area
~485 m²
- Plot surface
~134 m²
- Usable surface
~593 m²
Energy efficiency information
- Construction year
1959
- Energy efficiency class
D
- Energy certificate available
Yes
- Energy certificate type
Consumption certificate
Location: Athens, Attica
The area of Psyri 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 Psyri 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 Psyri (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.
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