Record Tel Aviv Deal: Two Floors in Daniel Tower Sold for 119 Million Shekels
Translated & summarized from Mignews by baba
A French tech entrepreneur has purchased two floors in Tel Aviv's Daniel Tower for 119 million shekels, setting a new record for the building. The deal, which closed recently, involved the 14th and 16th floors, with the unfinished spaces costing an average of 59.5 million shekels each. This transaction highlights a significant rise in luxury property prices, with per-square-meter costs exceeding 145,000 shekels. The Daniel Tower project, developed by Yossi Avrahami Group, is a 24-story mixed-use building that includes residential units and a boutique hotel.
The story in 6 lines · by baba
- A French tech entrepreneur bought two floors in Tel Aviv's Daniel Tower for 119 million shekels.
- The 14th and 16th floors were sold for an average of 59.5 million shekels each.
- The price per square meter in the deal surpassed 145,000 shekels.
- The transaction reflects a continued rise in Tel Aviv's luxury real estate market.
- The Daniel Tower project includes 57 apartments and an 81-room boutique hotel.
- The deal was brokered by Yehuda Marciano and developed by Yossi Avrahami Group.
A French tech entrepreneur residing in Paris has purchased two full floors in Tel Aviv's Daniel Tower for 119 million shekels. The deal, brokered by Yehuda Marciano, involved the 14th and 16th floors of the Yossi Avrahami Group project, located at 7 Hayarkon Street near the coast. Each floor was valued at 59.5 million shekels, with the buyer acquiring the spaces unfinished, anticipating several million shekels in additional renovation costs. The price per square meter in this transaction exceeded 145,000 shekels, reflecting a significant increase in the luxury real estate market. For comparison, a four-room apartment on the 15th floor of the same building is listed for 32 million shekels, with a per-meter price reaching 173,000 shekels. Earlier appraisals in spring 2026 for the Pie Siam hotel company indicated sales in the complex ranging from 90,000 to 120,000 shekels per square meter.
The 24-story Daniel Tower, designed by Yashar Architects, will feature 57 residential apartments and an 81-room boutique hotel. Residents will have access to hotel amenities like a spa, rooftop pool, and concierge services, as well as a gym, pilates studio, lounge, and cinema. The development, situated in the Kerem HaTeimanim neighborhood, began after the demolition of old structures in early 2025. The developer acquired the land in summer 2019 for 250 million shekels and received updated project approval in August 2023. As part of the approval, the developer will donate nearly 500 square meters for public use and eight parking spaces to the city.
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