Friday, February 13, 2015

Meier on Rothschild sales top ₪1bn

Meier on Rothschild tower which is expected to accept its first occupants within the next 6 months has reportedly sold 130 apartments for not less than NIS 1.028 billion. According to the developer of the tower, Berggruen Residential, an additional 10 flats and 4 penthouses, worth a total of NIS 450 million, are left for sale.

"This is a new Israeli record in terms of revenue for a single building - the previous record being held by Canada Israel for the Midtown residential tower and that raised NIS 900 million", explained a representative from the company. He also indicated that in the last month they witnessed very high sales topping more NIS 60 million. The tower, which sits on Rothschild Boulevard at the corner of Allenby has 42 floors and 140 apartments in total.

When it comes to prices, luxury apartments classified as "normal" are around NIS 9-12 million and duplex penthouse apartment located on floors 41-42 costs about NIS 70 million. There is also a penthouse apartment on floors 38-39 listed at no less than NIS 170 million, and that has been waiting for an owner since 2011. Maintenance costs will be about NIS 17 per square meter.

Read the rest at Ynet

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