Defense Minister Ehud Barak who was vastly criticized for his ostentatious home in the Akirov Towers has recently signed a contract to purchase an additional luxury apartment, this time in the Assuta compound in northern Tel Aviv.
The new luxury compound houses apartments which are sold for up to NIS 50,000 (roughly $13,500) per square meter. The apartment purchased by Barak is smaller than the Akirov asset but no less luxurious as it is set in a 26-floor building where penthouses are sold for roughly NIS 15 million (approximately $4 million). The new building is slated to be completed within three years.
The minister's Akirov property has been on sale for the last year going for more than NIS 30 million (approximately $8 million). It occupies half a floor stretching over 540 sq. meters (5,812.488 sq. foot) and considered to be one of the most beautifully designed apartments in the building.
Barak recently received a NIS 27 million ($7.24 million) offer for the asset but has yet to accept it.
Some 90% of the Assuta building has already been sold and purchasers include Bank Leumi President Galia Maor and Mizrahi-Tefahot Bank CEO Eli Yunes.