Istanbul Triplex Atop One of the City’s First Modernist Towers Hits the Market for €12.6 Million
A triplex penthouse in Istanbul with a pool and views of the Bosphorus Strait has hit the market asking €12.6 million (US$13 million).
It is one of several penthouses at the Ritz-Carlton Residences in the updated Yap? Kredi Bank building in the Ni?anta?? neighborhood of Istanbul, on the European side of the Bosphorus. The modernist black-clad building was co-designed by Turkish architects Do?an Tekeli and Sami Sisa in 1972 as part of a competition.
In 2014, developer BLG Capital purchased the building with plans to restore and repurpose it. The company, which previously overhauled a 19th-century American embassy building into the current Soho House Istanbul, is known for such historic and adaptive reuse projects, according to its CEO Sinan Temo.
“We’re known for redeveloping and restoring historic buildings, both structurally and commercially,” Temo said. “We give them new identities so they can survive into the next generation.”
The black-clad Yap? Kredi Bank building on Valikona?? Street has significance as one of the first modern high-rises in Istanbul.
“This particular building is modern architecture that we believed needed to be preserved because of the visionary and modernist architects,” Temo said. So they upgraded all the systems in the building, restored the facade, and developed a total of 121 residential units across the 22 floors. The majority of units were delivered and sold by the time the building opened in 2023.
The triplex penthouse is part of the final crop of residences, a mixture of penthouses and garden duplexes, to hit the market. The unit, which comes furnished and move-in ready, spans nearly 2,500 square feet and includes six bedrooms, a double-height great room and a third floor dedicated entirely to the primary suite, flanked by rooftop terraces on either side. One of the terraces includes a pool and sauna with views of the city and the Bosphorus below.
While the building is 24 stories, its perch on a hilltop gives it the relative height of a 40-story building, Temo said.
All residents in the development have access to the building’s suite of amenities, including a Turkish hammam, a cinema, an art gallery that’s open to the public, and a guest suite that’s available to book for visitors.
Ni?anta?? is an upscale shopping neighborhood in Istanbul, filled with high street retail, global brands and fine dining. It is the “Madison Avenue” of Istanbul, said Temo, and very close to a number of hospitals and health clinics frequented by medical tourists.
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