FAQ
What is 4955 Charcas?
4955 Charcas is luxury condominium-hotel development located in the heart of Palermo Hollywood designed with the most thoughtful approach to detail. The project was planned to provide the owner maximum flexibility. The units can be used to live in full time, used as a vacation rental, or a combination of both.
Owners will have the ability to place their unit(s) in the rental pool in order to receive income. The project was structured to provide maximum investment return and income potential.
Who designed the project?
The developer Grupo EMR, contracted Altuna, Bullrich, and Cecchi, one of Argentina’s leading architectural firms to design the project. Careful thought was placed to insure maximum investment return while maintaining the project’s luxury and style.
Can I rent my unit?
Yes, the project was designed to function as a full service hotel for those deciding to join the pool. Owners have maximum flexibility as they can live in their units, or either join the pool full time or part time. By joining part time they can occasionally use their unit and be in the pool when unoccupied by them.
We offer complete property and hotel management through our affiliate Grupo EMR Management Co. Homeowners have the option to sign a contract with us, manage their own property, or contract with another company. Please contact us for more information.
Does the nightly rental option provide good income potential?
Yes, we believe the nightly rental option offers the best investment potential. Based on 30% occupancy, owners would receive a net return of approximately 10% annually. With an occupancy rate of 70% returns should exceed 25%. These returns are net of management fees, property taxes, utilities, and condominium association dues. Please see the pro-forma for more information.
Do you allow pets and smoking?
Individual homeowners will determine their own policy with respect to pets and smoking.
Do you offer a furniture package?
Yes, we will offer furniture packages within 3 months from the completion date of the building. The packages will be designed with hotel management in mind in order to maximize efficiencies for a consistent and high quality hotel operation.
Those who choose to be part of the hotel pool would be encouraged to purchase the package. Each homeowner may certainly elect to furnish their unit as they wish.
How do I purchase and unit and why buy from Grupo EMR?
While in pre-sale, the schedule calls for a 40% down-payment followed by 15 equal monthly payments with no interest. This is the standard pre-sale process in Argentina. We sell at a fixed price while most developers in Argentina sell at an open price with annual adjustments based on inflation. This does not give you piece of mind as you are never sure what you will actually pay.
We are American developers specializing in selling to foreign buyers. We will provide you with complete guidance with respect to the process, obtain the necessary TAX ID number (CDI) for you, and handle all stamp tax payments. We take the bureaucracy out of the process. Argentine developers usually require cash for payment, we however accept payment via check or wire transfer to our US corporate accounts.
We then aggregate and send the money to Argentina which eliminates the difficulty and costs associated with getting cash into the country. Furthermore, we do everything via the central banking system in Argentina which makes the entire transaction proper and legal. Buying in Argentina is very simple and safe if done properly. Please contact us with any questions that you might have regarding this process. You can reserve your unit by contacting us.