Luxury Tel Aviv Tower Sells $50 Million in Apartments Before Official Launch

The ASSEMBLY TEL AVIV luxury project, located opposite Bograshov Beach in Tel Aviv, has finalized significant deals totaling approximately 180 million shekels ($50 million USD) with both Israeli and international buyers. These transactions include the sale of an entire floor for about 64 million shekels ($17.5 million USD) and a half-floor for approximately 37 million shekels ($10 million USD).

Among the buyers are individuals from France, Monaco, and Mexico, alongside an Israeli family from the high-tech sector and a young American Jew planning to immigrate to Israel. The largest transaction involved a family from Paris purchasing the entire first residential floor, spanning around 476 square meters, for roughly 64 million shekels.

A businesswoman residing in Monaco acquired a half-floor of about 246 square meters for approximately 37 million shekels. An Israeli high-tech family also bought a half-floor, approximately 250 square meters, for 35.5 million shekels. Smaller units were also sold, including a 120-square-meter apartment for 16 million shekels to a French family, a 111-square-meter apartment for 15.5 million shekels to a Mexican entrepreneur, and an 80-square-meter apartment for 11.5 million shekels to a young American Jew planning to move to Israel.

The ASSEMBLY TEL AVIV project, a 20-story tower with residential apartments and a five-star hotel, represents an investment exceeding 800 million shekels ($218 million USD) and is a partnership with the Nakash brothers. The tower will feature 10 hotel floors with 230 luxury suites and 67 residential apartments above them. The project, designed by Moshe Tzur Architects, includes amenities like an infinity pool and is being built by Electra Construction.

According to the development group, approximately 60% of the residential units have been sold even before the official marketing campaign began, primarily through personal connections and recommendations. The company emphasized that many buyers intend to reside in the apartments rather than purchase them solely for investment purposes.