Two-Room Apartments in Tel Aviv’s Landmark Tower Sell for Up to 3.85 Million Shekels
Recent transactions in the Landmark Tower at Sarona, Tel Aviv, highlight public willingness to live in mixed-use high-rises combining offices and residences. A two-room apartment of 53 square meters on the 33rd floor sold for 3.85 million shekels, while a similar unit on the 34th floor sold for 3.6 million shekels. These prices translate to approximately 70,000 shekels per square meter, with slight variations explained by differences in views and air directions.
Sarona is a relatively new neighborhood developed near the historic Templars area, which was transformed from government and military use into a modern urban district following a 34-year planning process. The Landmark project by Melisron and Afikim Properties includes two towers at the intersection of Da Vinci and HaArbaa streets. Tower A, already completed and occupied, houses commercial, office, and public spaces, including Meta (Facebook). Tower B, still under construction, will feature two commercial floors, 27 office floors, and residential units from the 31st floor upwards, totaling 116 apartments.
The initial building permit was granted in 2019, with occupancy expected by the end of 2024. The apartments are priced higher than nearby projects such as Basar Sarona and Gindi Towers, which average around 60,000 shekels per square meter, partly due to newer construction and higher floors in Landmark. Real estate appraiser Tamar Avraham noted that buyers do not necessarily pay a premium for higher floors or open views, indicating personal preference rather than market-driven price differences.
Overall, the transactions suggest that Tel Aviv buyers accept living in upper floors of mixed-use towers, with location and potential rental income playing key roles in pricing. The Landmark project exemplifies the city’s evolving real estate market, blending residential and commercial uses in a prime urban setting.
