Simulation of G Tel Aviv tower
TA: 2 luxury flats sold for NIS 19 million
G Tel-Aviv project's deputy marketing director says apartments sold for prices 25% higher than deals signed half a year ago
Gindi Holdings Ltd. has sold two apartments in its G Tel Aviv project for NIS 19 million (about $4.86 million).
One of the flats, located on the tower's eighth floor, measures 265 square meters (2,852 square feet) in size and was sold for NIS 9 million ($2.3 million) to a Manhattan resident. The second apartment, located on the 15th floor, measures 243 square meters (2,615 square feet) in size and was sold to a high-tech worker for NIS 10 million ($2.5 million).
"What we see here is a price increase of $500,000 – 25%, compared to deals signed about half a year ago," says project's marketing manager, Sharon Muman. "This deal basically completes the sales of the entire project, which has one last penthouse left."
The Tel Aviv G project is a 31-floor tower which is being constructed over nearly 1 acre on the corner of Ibn Gvirol and Hashoftim streets. The total investment in the project totaled NIS 450 million ($115 million). The tower will be 120 meters (393 feet) high and will include 37 apartments.
