For years there has been almost a standstill on one of the most famous construction sites in Berlin. The 120 meter high “Steglitzer Kreisel” residential building from the 1970s in the southwest is actually to be converted into a modern building made of glass, steel and aluminium. “29 floors of living experience with breathtaking views over the city” promises a real estate agent on his website. 330 condominiums are planned.
But the Berliners see nothing but a scaffolded construction framework that has become a symbol for false speculation in construction and the return dreams of a listed real estate group: the owner is the Adler Group, which has gotten into turbulence. A homebuyer now has enough.
