The Pangu Plaza, a well-known landmark building in Beijing, has once again put its top-floor "sky compound courtyard" properties up for auction. Two such courtyard units are being offered, one measuring 889.83 square meters with a starting bid of 49 million yuan, and another at 1,006.30 square meters with a starting bid of 57 million yuan. When these two properties were first listed for auction in July 2024, their starting bids were approximately 73 million yuan and 82 million yuan, respectively.

Located in Chaoyang District, Beijing, Pangu Plaza sits adjacent to the Olympic Park, just 500 meters from the Bird's Nest and 180 meters from the Water Cube. The project has a total floor area of 420,000 square meters and includes super 5A-grade office space, international apartments, and a seven-star hotel. It was once a filming location for the movie "Transformers: Age of Extinction."

The auction targets two properties: Unit 2301 in Building 3, Entrance 1, and Unit 2301 in Building 3, Entrance 2. The public bidding will take place at 10:00 AM on November 15, and viewing appointments have recently begun quietly. According to the auction announcement on the JD.com auction platform, Unit 2301 in Entrance 1 has a floor area of 889.83 square meters with a starting bid of 49 million yuan and a deposit of 9.8 million yuan; Unit 2301 in Entrance 2 has a floor area of 1,006.30 square meters with a starting bid of 57 million yuan and a deposit of 11.4 million yuan. Calculated at the starting bids, the unit prices are approximately 55,000 yuan per square meter and 56,700 yuan per square meter, respectively.

The two properties have already been physically connected, and the buyer must pay 240,000 yuan to a designated unit appointed by the auction entrusting party. This fee covers water, electricity, and the restoration of the original layout. If this payment is not made, the transfer procedures will not be processed. A staff member from the JD.com auction platform explained that both units currently belong to the same owner and are used as a combined space. If they are sold separately, the fee is required to restore them to their original state.

This marks the second time the properties have been listed for auction. In July 2024, during the first "sale" attempt, the starting prices were approximately 73 million yuan and 82 million yuan, with appraised values reaching 130 million yuan and 147 million yuan at that time. Despite attracting over ten thousand views, the auction ultimately failed due to no bids. By comparison, the current starting prices have been reduced by about 30%, with per-square-meter prices dropping from over 80,000 yuan to over 50,000 yuan.

According to an appraisal report obtained by the reporter, the building housing the properties has 21 floors above ground. Floors 1 to 3 are designated for commercial use, while floors 4 to 20 are for apartments. The apartment section is divided into 12 entrances, with two elevators per unit and a total of 204 units. Floors 20 and 21 are compound apartments, namely the sky courtyards. The flat-floor apartments feature square layouts with east-west ventilation, floor-to-ceiling windows on both sides, good natural lighting, and beautiful views. Each entrance has access control, a public area, and a lounge area on the ground floor, staffed with reception and security personnel, offering a closed and highly secure environment. According to on-site inspection by appraisers, the interior decoration is in good condition. The building was completed in 2011, and the property rights expire on October 8, 2076, with a planned use as apartments.

An auction manager from Hanhai Foreclosure told the reporter that such large-scale assets are very suitable for conversion into private clubs, and compared to the previous listing, the current auction price is actually on the low side. In fact, Pangu Plaza-related assets have appeared on auction platforms multiple times. The most widely known transaction occurred in August 2019, when Beijing Yucheng Real Estate Co., Ltd., a wholly-owned subsidiary of BBMG Corporation, won the bidding for Building 5 of the project at approximately 5.2 billion yuan, setting a record at the time for online judicial auction of real estate in Beijing and nationwide, with over 260,000 viewers.

According to previous reports, in August 2018, Pangu Plaza was listed for auction for the first time, with 41 residential units and 19 office properties, with a total market value of nearly 8 billion yuan, but the auction failed due to no bids. In the concentrated auction in July 2024, Unit 2301 in Building 3, Entrance 3, was sold for approximately 76 million yuan, with the winning bidder being the Beijing office of Inner Mongolia Mengfa Coal Co., Ltd. According to Tianyancha, Mengfa Coal has a registered capital of 120 million yuan, was established in 1998, and its legal representative is Shang Jianqin.

Currently, auction platforms still list many Pangu Plaza assets. For example, Unit 1001 on the 9th floor, Entrance 9 of Building 3, which failed to sell in a second auction on September 30, is marketed with phrases such as "two elevators for one unit, large flat floor with private theater, 70-year residential property eligible for household registration, direct views of the Water Cube and Bird's Nest from home." The price is 49 million yuan, with a floor area of 671.35 square meters. On November 16, Unit 1801 on the 15th floor, Entrance 7 of Building 3, along with indoor movable property, will also go to a second auction, with a starting bid of approximately 36 million yuan and a unit price of around 55,000 yuan per square meter. The auction announcement notes that the property includes an elevator connecting Units 1801 and 1901. The buyer may remove the elevator and seal the shaft. From the living room of this property, the Bird's Nest is clearly visible. On the Beike platform, two large flat-floor units at Pangu Plaza are listed for sale, both with an area of 671 square meters and a maximum total listing price of 49 million yuan.