Two Luxury Tel Aviv Apartments Sell for Combined $19 Million
Translated & summarized from Ice by baba
Two luxury apartments in northern Tel Aviv sold for a combined NIS 20 million (approximately $5.4 million USD). Gabai Group sold a penthouse for NIS 10.35 million, while Ben Shalom Yizmut sold a four-room apartment for NIS 9.25 million. These sales highlight continued demand for high-end properties in desirable Tel Aviv locations despite a broader market slowdown. Northern Tel Aviv remains a sought-after area due to its amenities and ongoing urban renewal.
The story in 5 lines · by baba
- Two luxury Tel Aviv apartments sold for a combined NIS 20 million (approx. $5.4 million USD).
- Gabai Group's penthouse in Yehuda Maccabi 47 sold for NIS 10.35 million.
- Ben Shalom Yizmut sold a 100 sqm apartment at Vitkin 28 for NIS 9.25 million.
- The buyer of the Vitkin 28 apartment is a new immigrant from England.
- Northern Tel Aviv remains a prime location for high-value real estate transactions.
Two high-end apartment sales in northern Tel Aviv have generated approximately NIS 20 million (about $5.4 million USD), underscoring the continued demand for luxury properties in the city despite a general market slowdown. Gabai Group sold a penthouse in their Yehuda Maccabi 47 urban renewal project for about NIS 10.35 million (approximately $2.8 million USD). The 138-square-meter penthouse, located on the seventh floor, features an 18-square-meter balcony and a private rooftop with a swimming pool. The Yehuda Maccabi 47 project is a boutique building with 32 units replacing 17 existing dwellings, located near Milan Square and Ibn Gabirol Street.
In a separate transaction, Ben Shalom Yizmut sold a 100-square-meter, four-room apartment with a 14-square-meter balcony at their Vitkin 28 project for NIS 9.25 million (approximately $2.5 million USD). The apartment, situated on the fourth floor, includes a robotic parking space. The buyer is a new immigrant from England who has been living in Israel for several years and purchased the unit for personal residence. The Vitkin 28 project, designed by "Ha'Cheder" architects, is a seven-story building with 11 apartments and is expected to be occupied within two years.
Northern Tel Aviv is considered a highly desirable residential area due to its established urban fabric, quiet streets, proximity to Hayarkon Park, beaches, and central business districts. The area is undergoing urban renewal, with new construction replacing older buildings while aiming to preserve the neighborhood's character. Limited land supply and sustained demand contribute to the high property values.
Orit Gabai-Tirrer, Sales and Marketing Deputy CEO of Gabai Group, commented that the Tel Aviv real estate market shows disparities between property types and demand areas. She noted that unique properties in sought-after locations continue to attract interest, even as buyers become more cautious. Gabai-Tirrer highlighted the Yehuda Maccabi penthouse as an example of a property combining a prime location with desirable features.
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