Tel Aviv Residential Building Sold to Sefi Tzviaeli Returns to Market After Approval Denied

A large residential building on HaGdud HaIvri Street in the Neve Shaanan neighborhood of Tel Aviv, previously sold to real estate investor Sefi Tzviaeli in July 2025, has been put back on the market. The building, owned by public real estate company Netanel Manivim, was initially purchased by them in October 2019 for 18 million shekels, demolished, and rebuilt into a 1,700 square meter property with commercial space and 21 residential units. After redevelopment, its value was appraised at 51.3 million shekels.

Netanel Manivim intended the property for long-term rental investment and received approval from the Investment Authority and the Ministry of Economy at the end of 2023 under the Capital Investment Encouragement Law, granting tax benefits. The sale to Tzviaeli was conditioned on obtaining new approvals for converting the building into a long-term rental property under his name, including VAT exemptions on residential units valued at 56 million shekels.

However, in November 2025, the Ministry of Economy informed that Tzviaeli did not receive the required recognition, leading to the cancellation of the sale agreement and the building returning to the market. Netanel Manivim has recently reported several other projects, including approvals for commercial and residential developments in Ariel, Holon, Yokneam Illit, and Ashkelon. Over the past year, Netanel Manivim’s stock has fallen 7%, trading at just over 100 million shekels in market value, while the TA-Maniv Israel Index rose 8.4%. Tzviaeli declined to comment on the matter.