Property Description:
I. General Description

We are offering for sale the Haci Mimi Apartments, located on Mimikülhani Street in Galata, Beyoglu. The building is currently in construction phase, with the raw building of block A being completed. When finished, it will have 15 apartments – 8 one-bedroom and 7 two-bedroom with an office space. Construction is scheduled to continue until February 2010. The land plot is 433 m2. The total usable area is approximately 2,100 m2.

Location Description:
The project is located in Galata, a couple of blocks down from Serdar Ekrem Sokak. It is right across from the Crimean Church and within walking distance from the Asmali Mescit neighborhood and the Istiklal, Galata Tower and the Tophane tram stop. The Sishane/Istiklal Metro stop is within a 5 minute walk. This particular section of Beyoglu has been changing at a very quick pace. There have been a number of high-profile renovations such as the Camondo Han and the Dogan Apartments. The Rodeo art gallery is another notable neighbor down the street. Several shops, galleries, design studios, a theater, a fitness club and others have recently opened doors to serve the residents and visitors. There have been also a number of other restored houses that are being rented out, but there have been no new constructions as it is virtually impossible to find land to build in this city center location. The neighborhood is particularly popular with foreigners who seek to rent apartments short or long term. It is also increasingly popular among locals, which are seeking downtown apartments aside from their suburban homes. There is also an uncovered demand by singles who in a previous generation would have lived together with their parents until they got married but are now increasingly living on their own.

II. Parameters

The building is L shaped and is located on a slight incline both to the east and to the south. The east block has 2 basement levels and 3 above ground levels. The west block has 1 underground level with a separate exit on the side of the building and 5 above ground levels. It is directly facing the Crimean church. There are views of the Bosphorus from the ground floor of the east block and the two roof levels. Each block has a separate entrance. It will be equipped with elevators and a modern security system. The east block has 7 apartments. 5 of them are one-bedroom apartments. The other two have 2 extra rooms that can be used as guest bedrooms and/or office and/or children’s rooms. The west block has 8 apartments. 3 of them are one bedroom apartments. The other 5 are two-bedroom apartments with an office room. The apartment size varies between 75 m2 and 140 m2.

• Development Project with High Capital Gain Potential