Tuesday, June 15, 2010

Flat sold at a price approaching those in London...

Shari Arison, chair of Arison Group, has bought an apartment in the "King David" building on Tel Aviv's Hayarkon Street. Arison paid NIS 16.6 million (USD 4.3 million) for the renovated, furnished 190 square-meter apartment on the sixth floor of the building. The price translates to NIS 87,000 per square meter, among the highest prices recorded in the residential real estate market recently. That converts to $23,000 per square meter, a price similar to what people pay for prime location in London!

The deal was signed a month and a half ago. The building, next to the Dan Hotel, was built in the 1990s by a group of developers headed by the Federman family. Its closeness to the sea, the attractiveness of Hayarkon Street, and the low supply of apartments there, have made it one of the most sought after apartment buildings in the city.

About four years ago, when she was still married to Ofer Glazer, Arison bought a triplex apartment in the G Tower project on Ibn Gvirol Street in Tel Aviv for NIS 55 million. The tower is currently under construction. Arison also owns a house in Moshav Bnei Zion in the Sharon, but most of the time lives in an apartment in the Bavli neighborhood of Tel Aviv.

Source Globes

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