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

Two Jewish families from Los Angeles have collectively purchased 11 apartments in the STORY Galey Yam project in Netanya for approximately 40 million shekels (about $11 million USD). The deal, brokered by the David Azulai Group, includes nine apartments on the 15th and 18th floors, and two penthouses on the 26th and top floor.

The average price per unit in this transaction is about 3.6 million shekels, though prices vary by size and type. Some of the apartments are intended for investment, while others will serve as residences for family members, some of whom already live in Netanya. The families aim to create a familial compound in Israel where relatives can live near each other.

The purchased apartments are four- and five-room units ranging from 104 to 122 square meters, each with a 20-square-meter sun balcony. The two penthouses are 150 square meters each, featuring five rooms, a 60-square-meter roof terrace, and an additional 15-square-meter balcony adjacent to the master bedroom. All units offer sea views.

This significant purchase follows a recent acquisition in the same project by social media star and businesswoman Elin Cohen, who bought a 122-square-meter, five-room apartment on the 19th floor with a sea view. David Azulai, owner of the David Azulai Group, stated that the purchase "is much more than a real estate transaction; it is an expression of the deep desire of the Diaspora to establish its foothold and presence in Israel." He noted a growing interest from overseas Jews seeking both investment and residency in Israel.