Aco City Sells Luxury Penthouse for Nearly 25 Million Shekels Near Tel Aviv's Yarkon Park

Aco City announced a significant luxury real estate transaction in its flagship SOZO project located on Bnei Dan Street, directly adjacent to Yarkon Park in Tel Aviv. The deal involved the sale of a penthouse at Bnei Dan 22 for approximately 24.9 million shekels. This price equates to about 100,000 shekels per square meter, notably higher than the recent average of 76,000 shekels per square meter on the same street. SOZO consists of two new six-story buildings designed by Aco City's in-house architectural firm, Grosbard Wingcister Architecture, situated in the highly sought-after District 4 of Tel Aviv.

This transaction adds to a series of luxury sales by Aco City in the Bnei Dan area this year, including two penthouses sold for around 28.2 million shekels and two combined apartments sold for about 15.2 million shekels. The project recently received demolition permits, with demolition scheduled to begin on August 30, after which Aco City will commence construction of the new buildings as both developer and contractor.

Aco City highlighted that the ongoing luxury market activity in Tel Aviv reflects sophisticated buyers seeking properties that meet precise demands for boutique projects in prime locations offering privacy, meticulous architecture, and urban integration. The company's combined development and construction capabilities provide buyers with confidence amid market uncertainties. Aco City specializes in urban renewal with over 15 years of experience, having completed 32 projects, currently executing 12, and advancing 50 more in advanced planning stages, offering comprehensive services from initiation to construction under one roof.