Luxury building to take last non-high-rise space on Brazil’s Rio de Janeiro Leblon beachfront

Apartments will cost between R$28.5 (US$5.3) million and R$50 million (penthouse); the onstruction marks Gafisa's return to Rio de Janeiro's real estate market, the company's birthplace.

RIO DE JANEIRO, BRAZIL - The wealthy, bohemian and sophisticated Leblon, a neighborhood in southern Rio de Janeiro, lost its last unoccupied area to a waterfront building.

The site was highly disputed by real estate developers for its position at an address where the sea is the horizon and the surrounding area features good bars, restaurants, and a wide sophisticated service network.

After much dispute, perseverance, and a R$50 (US$9.4) million investment, Gafisa (GFSA3), a construction company founded in Rio de Janeiro, acquired 360 m2 of the site, which for decades was home to two two-story semi . . .

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