Munich's Residential Luxuryfest
The Glockenbach neighborhood, or Glockenbachviertel, sits just south of the Bavarian capital's city center, alongside the Isar River. A center for millwork in the early 19th century, the neighborhood became home to factories, their employees and Munich's Jewish community. Albert Einstein attended high school there. In the 1980s, a gentrification wave turned the area into a party zone, but in recent years, nightclubs have given way to boutiques and skateboarders now make room for baby carriages. The neighborhood's most high-profile—and high-priced—new development is the Seven, a commercial, office and residential redevelopment of a decommissioned power plant on the northern edge of the Glockenbach. Reichenbach Street 22, one of four Glockenbach buildings by the developer Euroboden, is an award-winning revamp of a 19th-century apartment block. Designed by Thomas Unterlandstättner Architects, it was completed in 2007. Stephan Höglmaier is the founder and president of Euroboden and lives in the penthouse apartment of Reichenbach Street 22, though he plans to put it on the market early next year. He expects the 2,152-square-foot space to go for about $4 million. 'Glockenbach is where rich people live if they're also cool—or if they at least want to be cool,' Mr Höglmaier jokes.
The Wall Street Journal, 27. September 2013