Argencons Secures Prime Belgrano Land in $46.5 Million Auction Win
A coveted 10,000 m² property in Belgrano, formerly under the jurisdiction of the Argentine Federal Police, has been acquired by Argencons for $46,568,000 – more than double the initial asking price. The acquisition marks a significant milestone for the developer, particularly as it embarks on a new phase following a majority stake purchase by Consultatio.
The land, strategically located between Echeverría, Cazadores, Juramento, and Artilleros streets, began at a base price of US$21.3 million, but fierce bidding from three competitors drove the final sale price significantly higher. “We are ecstatic,” stated a company spokesperson immediately following the auction’s conclusion.
A Premium Residential Project Planned for Belgrano
Argencons intends to develop a high-end residential complex on the site, tentatively named “Quarter Residence.” The project will feature spacious units, offering three and four bedrooms, all oriented towards a central 3,000 m² garden. The developer envisions a “premium product” catering to the ultra-residential profile of the surrounding neighborhood, emphasizing modern amenities and a connection to nature.
This purchase is particularly symbolic for Argencons, representing the first project undertaken in collaboration with Consultatio after Eduardo Costantini acquired a 51% stake in the company in mid-2025. According to a senior company official, the team immediately recognized the potential of the site, recalling a similar successful venture with the Quartier del Bajo project. “When the previous management of the AABE showed us the total available land, we looked at Quartier del Bajo and said ‘this is it’, and it was a success. Now, when we saw the range again, we said again: this is it.”
Competitive Bidding and Strategic Value
The auction process proved more challenging than anticipated. “It was very hard fought,” one representative noted. “It was the moment when we thought it was going to continue rising, but we kept it.” The strategic value of the land is undeniable, as the area’s zoning regulations make it exceptionally difficult to consolidate neighboring properties. This scarcity amplifies the appeal of a large, centrally located parcel like this one.
Argencons is simultaneously marketing its Quartier Brava 30 project in Punta del Este, demonstrating continued activity in both the Argentine and Uruguayan residential markets. The company’s commercial director, Carlos Spina, is already familiar with the Belgrano area, having previously developed Quartier Bajo Belgrano, a project representing over US$100 million in investment.
From Police Facility to Luxury Residences
The property currently comprises a mix of covered structures (4,322 m²), semi-covered areas (201 m²), and open space exceeding 5,500 m². Its prime location – 300 meters from Libertador Avenue, 600 meters from the Belgrano C train station, and 800 meters from the Lagos de Regatas – further enhances its desirability. The area is undergoing a transition, blending low-density residential areas with increasingly prominent high-rise developments.
Previously utilized by the Argentine Federal Police as an infantry vehicle repair shop, a fire division, and a forestry brigade division, the land’s availability stemmed from a Ministry of National Security request to relocate these agencies. In response, the AABE has already reassigned sectors of a building on Zepita Street in the Barracas neighborhood to the PFA for heavy vehicle maintenance and the Cadet Music Band. The Ministry of Security then formally approved the Belgrano property’s release for sale.
The successful auction and subsequent acquisition by Argencons signal a continued appetite for prime real estate in Buenos Aires, and a promising future for the development of a new luxury residential offering in the heart of Belgrano.
