Złota 44
Złota 44 is a residential skyscraper in central Warsaw, Poland. It was designed by Polish-American architect Daniel Libeskind, in association with Polish architects Artchitecture. It was developed by US real estate investment manager Amstar and Warsaw developer BBI Development, which bought the topped-out but unfinished building from its initial developer, ORCO. The building is sometimes referred to as Żagiel although the skyscraper's architect drew inspiration for Złota 44 from the shape of an eagle's wing symbolizing changing Warsaw, Poland and freedom.
Design
The building's name comes from its address on Złota Street. Złota 44 is located next to Varso Tower, the tallest building in the European Union, the Palace of Culture and Science, the second tallest building in Poland, and the Złote Tarasy shopping center. At 192 meters, Złota 44 is one of the tallest residential buildings in Poland and the European Union. The luxury 52-story skyscraper contains 287 apartments. All of these are equipped with the home management system, facilitating control of the air conditioning, roller blinds, heating, illumination, and allowing online restaurant orders and other services. All residents receive a security card, which only allows them to reach the floor their apartment is located on.Residents have access to a wine cellar which accommodates up to 10,000 bottles and includes a tasting room. In addition to a 25-meter swimming pool, the recreational floor has a hot tub, massage rooms, a Finnish sauna, a steam room and outdoor terrace. The floor also features a private movie theater with a golf simulator, children's playroom and conference rooms. A dedicated concierge is at the disposal of residents.
Apartments
The apartments are located between the 9th and 52nd floors. Fully finished apartments were offered in nine interior design variants and four sizes: one-bedroom units, medium-sized units, larger apartments and penthouses.On 16 April 2015, the sale of apartments officially resumed. Depending on location, size, layout and finishing standard, the price per square meter ranged from 24,000 to 40,000 PLN.
History
Due to financial problems experienced by the developer, as well as invalidation of the construction permit and disputes with the inhabitants of the surrounding buildings, Złota 44's construction was put on hold in 2009, but resumed in January 2011. On 3 February 2012, the building was topped out.In December 2013, ORCO terminated its contract with general construction contractor Inso. By the end of the year, ORCO was calling the investment a "major financial failure for the group in the fall of 2013". It announced a €121 million write-down of the value of the building, and went on to announce its intention to sell it as quickly as possible. One of the banks financing the skyscraper's construction terminated its contract and wanted its 250 million PLN loan refunded. ORCO also disclosed that the high apartment prices were artificially inflated to generate media coverage.
On 28 August 2014, ORCO's sale of Złota 44 was finalized; the skyscraper was acquired by American real estate investment company Amstar and Polish property developer BBI Development for €50 million, a fraction of the estimated €163 million construction cost.