Tuesday, December 20, 2016

Penthouses in White City Residence officially on sale

After a soft launch that lasted almost a year, penthouses in White City Residence are now officially on the market. One such penthouse (there are 7 of them) which has been put on sale for NIS 100m occupies 360 m² of the 29th floor and features a 120-m² terrace. That's more than $55,000 per square meter if you account for the terrace at 50% if its surface like it's the market practice.

It will be decorated and accessorised by the Armani studio. White City Residence is located on Yitzhak Elkhanan St. at the edge of the Neve Tzedek neighbourhood, adjacent to Rothschild Ave. Until several years ago, Yitzhak Elkhanan St. near the Carmel Market was considered a neglected area with a relatively low real estate value. But over the last decade, the face of the neighbourhood has changed to the point that it now boasts many luxury developments such as this 161-apartment project. In practice, most of the buyers purchased multiple apartments and connected them, therefore, the current number of apartments totals about 95.

The project entrepreneurs report that 92% of the apartments have been sold for a combined revenue of 820 million NIS. Negotiations are currently underway for a number of available penthouses that start at 40 million NIS. Who is buying these apartments? Company figures indicate that 48% of the buyers are Israeli while the rest live abroad but intend to move to Israel within the next few years. The smallest apartment purchased measures 63 m², while the largest occupies a full 525 m². According to Haim Feiglin, President of Zemach Hammerman Ltd., “When we decided to go into the ultra-luxury market, we wanted to do something different, something that has not yet been seen in Israel, so we could give buyers a product comparable to luxury properties in Manhattan, London or Miami. That is why we partnered with Armani Casa and created a unique product that has been received with excitement by buyers of premium apartments in Israel and internationally.”

Armani Casa Milan designed and furnished the atrium and lobby of the project, a space with 10-meter-high ceilings as well as the conference room, model apartment – down to the dishes and cups – and will soon design and furnish the most expensive penthouse in the project for sale for 100 million NIS. “We’re talking about something you don’t encounter in a typical luxury project,” explains Zemach Hammerman Ltd. Vice President Ran Ben-Avraham. “Intense thought went into the smallest details, down to the weave of the upholstery and the cabinet handles. Not a single corner went without attention from the designers.”

Beyond the pampering design, project residents will benefit from a heated swimming pool, gym, spa floor, aerobics studio, massage and other treatment rooms and a hair design studio. Personal concierge services will also be available to residents, which will offer supermarket shopping and taxi-ordering services and even a private chef or chauffeur.

Project architect Avner Yashar attested that one of the significant challenges was to create a prestigious residential tower that does not seem out of place in its surroundings: “Usually, we encounter anti-tower rhetoric; the challenge here was to find a way to integrate the tower that would not only do no harm to the vicinity but would actually contribute to it. While all the apartments face the sea, it does not look like it turns it back on the street.”

Source Jerusalem Online

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