The building used to house the Karlstor cinemas, but today there is, among other things, a store for the “My Shoes” chain. Now the building at Neuhauser Straße 47 has a new owner: The Grünwald company Rock Capital announced on Wednesday that it had taken over the property, which also goes by the name “Monachia House,” from a private ownership group. The specialist media “React News” had previously reported and quoted a purchase price of around 150 million euros.
The building has around 8,000 square meters inside, which is used for retail, catering as well as office and practice space. Rock Capital says it plans to “reposition the ensemble.” So there is likely to be a renovation and new rentals. However, it can be assumed that there will continue to be retail on the lower floors and offices above. But no more “My Shoes”: The Deichmann Group wants to close all branches of this brand by the end of 2024.
The neighborhood is also changing: A few buildings away, a C&A will soon be moving in instead of Sport Scheck, and opposite, the renovation of the former Karstadt Sports is on the home stretch. Diagonally, the future of the Alte Akademie, a bankrupt project from René Benko’s Signa Group, is uncertain.
Despite the crisis on the real estate market, this is the second sale of a city center building for a three-digit million sum within a short period of time. Last week it became known that a private individual had bought the complex at Maximilianstrasse 12 to 14 for 250 million euros.