Foreigners pay NIS 34m for 3 flats in Meier on Rothschild

Berggruen Residential reports that it sold three apartments in its Meier on Rothschild luxury high-rise in Tel Aviv for NIS 34 million. The three apartments were sold to foreign residents during a housing fair in Paris.

A 393-square meter apartment with two 12-square meter balconies on the 18th floor was sold for NIS 17 million. A 273-square meter apartment with a 12-square meter balcony on the 18th floor was sold for NIS 11.3 million. A three-room apartment on the second floor was sold for NIS 5.5 million.

Berggruen Residential CEO Yigal Tzemach said, "The apartments sold this week gave an average price of $13,000 per square meter, $2,000 more than the average price per square meter in 2010. I believe that, as construction progresses - it is currently at stage of the underground parking garage - prices will continue to climb. The pace of sales in the building is definitely satisfactory, and more than half of the 121 apartments have been sold."