17 Rothschild Blvd. project
Foreign billionaire buys Tel Aviv flat for NIS 25.5M
Apartment located on 17th floor of 17 Rothschild Blvd. project, measures 600 square meters in size
Tel Aviv's luxury towers continue to attract wealthy people from all around the world. A Jewish billionaire living abroad has purchased an apartment measuring 600 square meters (6,458 square feet) in size at the 17 Rothschild Blvd. project in Tel Aviv for NIS 25.5 million (about $6.9 million), reflecting a price of about $11,000 per square meter.
The apartment stretches over 75% of the 17th floor of the project, which is slated to include 20 floors.
The 17 Rothschild Blvd. project is being constructed by Pangaea Israel and Acro Group. It stretches over a plot of more than half an acre between Tel Aviv's Rothschild Boulevard and Ahad Ha'am Street. The compound includes two buildings for preservation which will be connected to the tower.
The tower will include 64 apartments measuring 220-874 square meters ((2,368-9,408 square feet). It is currently in the final stages of receiving its permits, and the digging for its parking lots is expected to begin in the coming weeks. The project's apartments are slated to be handed over to their buyers within three years.
The land was purchased in February 2008 from the Banin family and the Alrov company for $53 million. The entire deal, including the land purchase and the cost of construction, is valued at NIS 450 million ($121 million).
