US Buyer Acquires $15 Million Tel Aviv Penthouse

Hagag Group has reported the sale of a penthouse in its Infinity Tower in Tel Aviv for 55.5 million shekels (approximately $15 million USD). The buyer is an American Jew who purchased the property for residential purposes. This penthouse occupies the 51st and 52nd floors of the tower, offering expansive views of the sea and the Gush Dan skyline.

The property spans approximately 293 square meters of interior space, complemented by about 158 square meters of balconies. The sale price reflects a rate of 150,000 shekels per square meter, but does not include finishing work, which the buyer will undertake independently. The Infinity Tower, designed by architect Moshe Zur and built by Electra, is located in the Sumail complex at the intersection of Ibn Gabirol and Jabotinsky streets. It stands 52 stories tall and contains 278 apartments, along with amenities such as a swimming pool, spa and fitness areas, a residents' bar, an internal garden, and a lobby.

Occupancy of the tower is anticipated in the first quarter of 2027. As of August, 221 of the 278 units, or about 80%, had been sold, with 57 remaining. Hagag Group's international department, established two years ago to attract overseas buyers, facilitated this transaction. Chen Dilmoni, Head of Marketing at Hagag Group, noted that foreign buyers are becoming a significant force in the Israeli real estate market, emphasizing the need to understand their specific requirements. He added that even amidst a slowdown in the broader housing market, rare luxury properties in prime locations continue to attract high prices due to their unique attributes like location, view, and floor level.