Luxury building to take last non-high-rise space on Brazil’s Rio de Janeiro Leblon beachfront

RIO DE JANEIRO, BRAZIL – The wealthy, bohemian and sophisticated Leblon, a neighborhood in southern Rio de Janeiro, lost its last unoccupied area to a waterfront building.

The site was highly disputed by real estate developers for its position at an address where the sea is the horizon and the surrounding area features good bars, restaurants, and a wide sophisticated service network.

After much dispute, perseverance, and a R$50 (US$9.4) million investment, Gafisa (GFSA3), a construction company founded in Rio de Janeiro, acquired 360 m2 of the site, which for decades was home to two two-story semi-detached houses.

The houses were built in the 1930s by a miner from Juiz de Fora, when Leblon was still just a fishing neighborhood. They have now been demolished, and the land is currently occupied by the sales stand of the new building.

It is on these 360 m2, at 558 Delfim Moreira Avenue, that Gafisa promises to develop an “architectural project with a blank sheet of paper,” says João Paulo Matos, CEO of the company in Rio.

Before this sheet was scribbled on to create the exclusive apartments, Gafisa set itself the challenge of erecting the luxury building in the smallest area ever acquired by the company.

“Once the construction limits are overcome, owners can do anything they want. They can place the kitchen in the living room, increase and decrease the number of bedrooms [there are four in total in the original concept], add an exclusive elevator to the penthouse,” the executive says.

To do so, the building’s supporting pillars are placed at the structure’s extremities, as well as the plumbing and wiring openings, leaving the interior area of apartments free for any layout.

The high-end building was launched this month, and given its price and the number of units available, it will be affordable by few.

The 5 apartments – one per floor – comprise 285 m2 of usable floor area. There is also a duplex penthouse that covers 500 m².

The price per m² for each unit is around R$100,000. Doing a quick calculation: apartments will cost R$28.5 million, and the penthouse will amount to some R$50 million.

Matos said that demand is high: 2 units have already been sold, and a third one is under advanced negotiation. The stand can only be visited by appointment, to ensure a more exclusive service.

People interested in the project are tycoons from different areas who already live in Leblon or in other regions of Rio and are looking for a bolder, more technological environment that reflects what it means to live well nowadays.

“We are also looking for foreign buyers. The property price is very attractive when converted from Euros into Brazilian real,” Matos says.

According to FipeZap, an indicator that calculates the sale price of real estate properties in capitals, Leblon is the most expensive neighborhood in Rio de Janeiro. In August this year, the average price per m² was R$21,710.

Named “Tom Delfim Moreira” the building seeks to blend in with the sea, the people who walk along the waterfront, and the Rio mountains. But once completed, it will stand out from the neighboring buildings, which have a more traditional façade.

Signed by Gensler, an American architecture firm, the new building’s façade creates the sensation of the motion of the ocean waves, from the large, curved-shaped balconies.

The ESG agenda is also addressed in the construction. A system will collect rainwater, the height of the building complies with local legislation to prevent shading over the beach and the apartments will feature a glazed façade to allow natural light in, which should reduce electricity consumption.

Another attraction is the building’s lobby, conceived as an art gallery. The space will feature works by artists Vik Muniz and Ernesto Neto. On the sidewalk there will be a sculpture by Iole de Freitas, and in the back of the building a work by Irmãos Campana.

The development will also include a garage, gym, valet parking, meeting room, and a space to store surfboards, bicycles, and to receive orders.

The monthly condominium fee will be R$9,000. Construction will begin in March 2022, and the building is scheduled for delivery in late 2023.

Gafisa had not launched any new projects in Rio de Janeiro for at least 5 years. Last year it returned with a high-end building in Barra da Tijuca. According to Matos, 2 more high-end projects will be launched in October, also in Botafogo and Barra.