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Tel Aviv seafront penthouse sold for NIS 108m

Two months ago a huge deal was signed for a penthouse in the David Promenade Residences at 51 Hayarkon Street, overlooking Tel Aviv seafront, a source close to the deal has informed "Globes." The deal has yet to be listed by the Israel Tax Authority.

The penthouse apartment on one of the project's upper floors was sold for NIS 108 million, before interior design, to a foreign resident. The 680 square meter apartment also has 330 square meters of balconies. The deal reflects a cost of NIS 130,000 per square meter.

Also in the David Promenade Residences project, a 360 square meter apartment on the 18th floor was bought last month for NIS 54 million, including VAT.

This latest deal for the penthouse surpasses the NIS 84 million paid last year for an 850 square meter apartment in the Arlozorov 17 project.

David Promenade Residences includes two towers with a hotel and apartments. The residential tower has 28 floors and is being marketed exclusively by Samuel Van Kot of Neot Shiran together with Eyal Hartogs of Holland Real Estate. The hotel in the second tower will be managed by the Kempinski chain and it will also provide services to residents of the apartments.

The two towers are on a 2 acre lot with the apartments in the western tower overlooking the sea. Occupation of the apartments began several months ago.

Published by Globes, Israel business news - en.globes.co.il - on April 1, 2021