This is OM Palermo, a young premium residential complex developed by NorthBaires, and located where the old offices of the Polka production company used to be, on an extraordinary piece of land between Jorge Newbery, Maure and Álvarez Thomas and Córdoba avenues.
The NorthBaires developer, owner of the prestigious OM building brand, launched a project in the heart of Palermo that promises to revolutionize the property market as it has as a differential the possibility of buying a unit financed in 80 fixed installments, which almost represents the monthly rental value.
It is OM Palermo (www.northbaires.com.ar/emprendimientos/om-palermo), a residential complex conceived financially and architecturally for the young premium segment, located where the old offices of the production company Polka used to be, on an extraordinary piece of land between Jorge Newbery, Maure and Álvarez Thomas and Córdoba avenues, with 35 meters of frontage on both exits.
With an innovative extended financing tool, the developer allows the purchase of residences in the complex in such a way that those who purchase a unit end up paying for it in 40 prorated monthly installments in the 40 months after moving in, with a format that is practically unique in the world. current market.
The model is simple: with an advance payment of 30% of the unit’s total, a payment plan is accessed that consists of 80 installments payable over 6 and a half years (80 months) in two installments. The first 40 installments are paid during the development of the complex, which is already under construction and will be completed in 36 months, and the second 40 installments are paid after the delivery of the unit, already living in the acquired residence.
The units, mostly one and two rooms, start at $77,000 (a studio apartment of 33 m2, with a balcony). In that case, the advance would be $23,000, and in the first 40 months the fee would be $580 per month. The owner takes possession of his unit and after moving into his own home, he will pay 40 installments equal to $880 per month.
“We thought of it to boost access to properties for a specific sector of the market, which usually has the possibility of making an accessible advance and paying the balance in many financed installments, with values in accordance with their income levels,” summarizes Andrés Valenzuela, NorthBaires commercial director.
The company even developed a virtual calculator and uploaded it to the project site (https://northbaires.com.ar/calculadora/) so that interested parties can estimate the installments they would pay based on the unit they are interested in.
The complex is unique, and consists of two 10-story buildings located in the middle of a lot of unthinkable dimensions for the area. The land occupies a third of the block. It has 35 meters of frontage on both exits and 68 meters of depth, offering a total of 270 apartments and exclusive services, a landscaped garden, swimming pools, rooftops and a huge internal coworking space. With the works already started, the completion period is scheduled for within 36 months. The commercialization of the units began more than a year ago and more than 50 percent of the departments have already been sold.
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by CEDOC
