Tel Aviv Penthouse With Private Pool Sells for $11.5 Million
Translated & summarized from Globes by baba
A penthouse in Tel Aviv's Shde Dov neighborhood sold for NIS 43 million, featuring 324 square meters, three balconies, and a private pool. The sale price reflects approximately NIS 109,000 per square meter, significantly above the area's average. Appraisers and developers note that unique features drive the price in the luxury market. The Shde Dov area is undergoing major development, with thousands of new apartments planned.
The story in 5 lines · by baba
- A penthouse in Tel Aviv's Shde Dov sold for NIS 43 million, featuring a private pool and sea views.
- The sale price reflects approximately NIS 109,000 per square meter, significantly above the area's average.
- The Shde Dov area is undergoing extensive development with over 30 projects planned.
- The luxury housing market remains strong despite a weaker overall Tel Aviv market.
- Unique features like a full floor, large balconies, and a private pool command a premium price.
A penthouse on the 33rd floor of the Utopia project in Tel Aviv's Shde Dov neighborhood has been sold for NIS 43 million (approximately $11.5 million). The luxury apartment spans 324 square meters, features eight rooms, and includes three balconies totaling 144 square meters with open sea views. The main balcony boasts a private 28-square-meter swimming pool. The project is by Nachmias Group, and the buyer is an Israeli businessman.
The Shde Dov area, formerly an airport, is undergoing extensive development with over 30 planned projects, including around 16,000 apartments. The southern "Eshkol" section is the most advanced, with seven projects underway from developers like Dan Real Estate, I.H. Demri, and Israel Canada. Apartment prices in the area average around NIS 80,000 per square meter.
The Utopia project, located in the Eshkol complex, will consist of 337 housing units across several buildings, with completion expected around mid-2029. Prices in this project average approximately NIS 85,000 per square meter, with some high-floor units reaching NIS 90,000 per square meter.
Appraiser Erez Cohen described the sale as exceptional, even for Shde Dov's high prices, reflecting about NIS 109,000 per square meter. He noted that for ultra-luxury properties, unique features like the penthouse's full-floor occupancy, extensive balcony space, private pool, and sea view significantly influence the price, especially given the limited pool of potential buyers. Cohen added that such premium is achievable even amidst existing uncertainties in the area.
Bar Nachmias, Deputy CEO of Nachmias Group, stated that despite a generally weaker Tel Aviv housing market recently, the luxury segment remains robust. He observed rising buyer expectations for specifications and customization, noting that this sale includes a high-end finished apartment with customizations made during construction in consultation with the buyer.
Mentioned
