Real Estate

Bosphorus’ landmark red mansion sold for 200 million liras

The Mehmet Emin Ağa Mansion, distinguished by its red color on the Bosphorus, has been sold to a Turkish businessman for 200 million Turkish Liras ($7.5 million) at the end of May, local media has reported.

The mansion, located in the Kanlıca neighborhood, had initially been listed for sale at $25 million by one of the leading real estate firms in the Bosphorus. However, since no buyer was found, the price was lowered to $17.5 million. The sale of mansion also attracted the attention of a Russian and an Iranian customer.

Daily Hürriyet reported that Ahmet Faruk Karslı, the owner of digital payment platform Papara, became the new owner of centuries-old mansion in May.

The mansion, built in 1846 by Ottoman senior official Mehmet Emin Ağa during the Ottoman Sultan Mahmud’s era, was completely reduced to ashes in a fire in 1905.

After the fire, the land the mansion stood on was used as a parking lot for a long time.

The reconstruction of the mansion, which was brought back to life with a project by architect Emrah Ünlü, started in 2013 and was rebuilt in its original form. The construction was completed in 2017,as its garden was designed to host various cultural events.

Mehmet Emin Ağa Mansion became one of the most prominent structures along the Bosphorus with its ochre painted color.

Containing an elevator and a 20-meter-long pier, the Mehmet Emin Ağa Mansion recently hosted the works of well-known artist Taner Ceylan during the 17th Istanbul Biennial.


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