Haim Katzman Lists Luxury Apartment in Tel Aviv’s Akirov Towers for 40 Million Shekels

Haim Katzman, a prominent Israeli real estate investor, has put his luxury apartment in the Akirov Towers in Tel Aviv up for sale, seeking approximately 40 million shekels. The apartment spans about 400 square meters, including a large balcony that covers nearly a third of the space. Katzman has lived in this half-floor unit, located in the middle tower of the three Akirov Towers, for around 25 years. He originally purchased it shortly after the project’s completion in 2006, although the first building was occupied as early as 2002. Katzman resided there with his first wife, who passed away from illness.

Katzman has engaged a real estate brokerage to handle the sale. Sources close to him indicate he plans to buy another residence in Israel near the sea, dismissing rumors that he intends to relocate his primary residence to Miami. Currently, Katzman divides his time between Israel, where he stays three to six months annually, and Miami, where he lives most of the year.

This move follows Katzman’s recent decision to sell part of his controlling stake in G City, a real estate company held by Norstar, which he controls. Norstar’s board announced plans to seek strategic investors for some of its 54.3% stake in G City, aiming to eliminate a controlling shareholder and convert G City into a first-tier public company under Israeli concentration laws. This restructuring would facilitate public offerings of G City’s subsidiaries, including Gazit Israel, which owns 12 shopping centers in Israel, and its operations in Poland.

Katzman owns about 30% of Norstar alongside Itzik Sela, while Israel Canada holds 14.5%. Norstar has hired Discount Capital Underwriting to assist with the transaction but emphasized there is no certainty the sale will be completed. Market sources say Katzman is demanding a price roughly double the current market value. G City was valued at about 1.92 billion shekels at the announcement and currently stands at 1.86 billion shekels. Norstar’s market cap rose from 490 million to approximately 506 million shekels following stock fluctuations.

Potential buyers include Shlomi Nahaisi, a commercial center owner who recently acquired the Planet Rishon Lezion complex for around 300 million shekels. G City, formerly Gazit Globe, is one of Israel’s largest real estate firms, focusing on acquiring, developing, and managing commercial centers and office buildings in densely populated urban areas. Despite returning to profitability in 2025, its stock trades at a low price-to-book ratio of about 0.4. The company has faced market concerns over its high leverage, causing its share price to drop by roughly 50% in recent years, with only partial recovery in the past year.