The unfinished concrete shell at 198 Paseo de la Castellana is being reborn as a high‑end residential tower.
- Originally planned as a five‑star hotel, the project stalled after the 2008 property crash, leaving a stark skeleton for more than a decade.
- Spanish investment firm Drago now owns the site and has hired Swiss‑Austrian architect Christina Seilern to redesign it.
- The new plan features 62 luxury apartments, including five duplex penthouses on the tenth floor.
- Units will command prices up to €10 million, targeting Madrid’s ultra‑wealthy buyers.
When completed, the building will turn a once‑forgotten eyesore into one of the city’s most exclusive addresses.