Neuhauser Str. 8-10, 80333 München | 16th century | 6,055 m²
16th-century landmark in Munich’s main pedestrian zone. Heritage-listed, four courtyards, planned for mixed-use retail, gastronomy, and apartments. Completely gutted, construction halted.
Chronicles of this site
The Alte Akademie in Munich was built in the late 16th century by the Jesuit Order and used as a college. Later the Bavarian state transformed it into a library. After various uses over the centuries, including military and administrative functions, it was heavily damaged in World War II and subsequently rebuilt. Today, it is a listed and protected historic building undergoing redevelopment for mixed commercial use.
The SIGNA-Deal
The Alte Akademie is owned by the Free State of Bavaria and has been leased to a Signa subsidiary until 2097 for a sum of €230 million. The leasehold agreement was signed in 2013; creditors include Stadtsparkasse, BayernLB, and Pfandbriefbank. Since 2016, plans have aimed to redevelop the historic site into a mixed-use complex with retail, restaurants, and housing including a lease from the pharmaceutical company Novartis for 9,000 m² of office space, which has now been terminated. After Signa’s bankruptcy the construction plans – including a complete gutting of the historic building – were halted, leaving a vacant facade held together by steel constructions at the heart of Munich’s pedestrian zone.
Why should you own this piece?
Become part of this unparalleled symbol of misspeculation, condensing whole dynasties of risky trades into one, single artwork. Since Signa’s bankruptcy in 2023 the Alte Akademie has been a construction ruin at the heart of Munich’s financial center – without any floors in it, nor clear plans how to proceed. What makes the site a risky investment for real estate donors literally transforms it into a veritable goldmine for collectors of digital assets.
While the Alte Akademie – being a Renaissance landmark at the heart of Germany’s most promising city – was a feasible investment even before Signa’s spectacular crash, the collapse of Benko’s ambitions finally skyrocketed the object to the center of public interest.
With its striking façade and four inner courtyards being still intact, the prospects for further public engagement and cultural prestige looks more than promising.
*By owning this NFT, you are entitled to 0.000001% of the associated property. This NFT does not represent legal ownership of real estate or securities, but rather a digital collectible tied to the project’s vision.