The State of Berlin is reportedly in talks to buy the Quartier 207 building, also known as Q207, from Tishman Speyer for a price believed to be around €589 mln.
According to press reports, this figure was recently mentioned by Culture Senator Joe Chialo (CDU) in the Culture Committee of the House of Representatives, who supports the acquisition and said the deal would be a 'once in a century' opportunity for Berlin.
In his view, Quarter 207 will house the Central State Library of Berlin (ZLB), which is currently divided into two locations. The asset, providing 35,000 m2 over seven storeys, would offer the right size for the library, and the head of the ZLB, Volker Heller, is said to have commented positively on the senator's proposal. Construction of a new building on Blücherplatz would be more expensive in comparison, with total cost estimated at around €640 mln.
Q207 currently houses the Galeries Lafayette department store which is moving out at the end of next year.
