Two Los Angeles Families Purchase 11 Apartments in Netanya for $11 Million

Two Jewish families from Los Angeles have collectively purchased 11 residential units in the STORY Glei Yam project in Netanya, in a deal valued at approximately 40 million shekels (about $11 million USD). The acquisition includes nine apartments on the 15th and 18th floors, along with two penthouses on the 26th and top floor of the tower, developed by the David Azulai Group. According to the developer, some of the apartments were bought as investments, while others are intended for family members who already reside in Netanya. All 11 units offer sea views. The nine apartments are four or five rooms, ranging from 104 to 122 square meters, each with a 20-square-meter sun balcony. The two penthouses, each 150 square meters with five rooms, feature a 60-square-meter roof terrace and an additional 15-square-meter balcony off the master bedroom. This significant purchase follows a recent deal in the same project where social media star and businesswoman Elin Cohen bought a 122-square-meter, five-room apartment on the 19th floor. The STORY Glei Yam project, located on Ben Zvi Boulevard in Netanya, comprises three residential towers, two of which are 26 stories high and one is 20 stories, totaling around 300 units. The towers incorporate green building elements and large curtain walls for sea views from the sixth floor upwards. A neighborhood commercial center of approximately 2,000 square meters, including shops and cafes, is planned for the ground floor. Businessman David Becher and lawyer Moshe Raz represented the buyers in the transaction. David Azulai, owner of the David Azulai Group, stated that the purchase reflects "the deep desire of Diaspora Jewry to establish its foothold and presence in Israel, and proves once again the resilience and strength of the local market. The need for a significant Israeli anchor is present today more than ever."