Aviv Group Acquires Lieber Tower for NIS 200m

The Lieber Tower project situated at 39 Pines Street right next to the Neve Tsedek tower and that became a symbol of the struggle between the residents of Neve Tzedek and luxury tower developers has just changed hands. Aviv Group, controlled by Doron Aviv and Dafna Har Lev, announced today that it has signed an agreement to acquire the complex from Moshe Gavrieli of Intercolony Investments. Aviv will pay about 200 million shekels upfront with a potential extra 10m if flat sales to June 2011 reach NIS 512m.

The current approved plan is a tower of 28 floors with up to 150 apartments. At this point however, the company only plans to bring 105 apartments to market. In May 2009, the local planning and building committee approved construction of a high-rise on the site of the former Lieber chocolate factory south of Neveh Tzdek. Preliminary plans for the project were developed by world-famous architect Daniel Libeskind in collaboration with local architect Rani Zis. The planning for the project has since been taken over by architect Avner Yashar who is also overseeing the Rothschild Ehad and White City Residence projects. Apartments in the tower have been selling so far at prices ranging from NIS 40,000 to NIS 60,000 depending on location.

Aviv Group reports that even before signing the deal 80 apartments totaling NIS 480 million had already been sold. The company estimates that revenues from the project will reach over NIS 560 million. Doron Aviv, Aviv Group Chairman, commented: "Aviv's real estate activity is concentrated in areas where there is high demand. I believe that Tel Aviv, especially in the south, presents us with great business potential and I have no doubt that the area's strategic location will generate great interest among potential buyers as evidenced by the early sales".

Source The Marker

Aviv Rothschild Center, a new luxury office project

Work has now started on Aviv Rothschild Center, 22 Rothschild Boulevard at the corner of Nahalat Binyamin Street.

Aviv Rothschild Center sets new standards in office buildings. "Recently we saw a new trend developing with the building of luxury residential apartments. That trend has now extended to office buildings because of an increase in demand for luxury offices as well" said Daphne Harlev, CEO of Aviv Group. The complex is made of two buildings, the new business tower and "Baker House" that was designed by legendary architect Yehuda Leib Magidovich -- the first city engineer of Tel Aviv. The Barker will be renovated and connected to the tower thanks to a modern glass atrium. Architects leading the project are Moshe Tzur Amnon Bar Or.

The tower will offer between 30 floors in addition to seven underground parking levels and will extend over an area of 22,500 sqm. Construction is scheduled to last three years and rent per square meter in the tower is expected to stand at about NIS 130-150 on average. Aviv Group has also applied for permission to build a hotel after receiving permission from the Tel Aviv Planning and Building Commission to increase the number of floors to 29.

Aviv group founded by the late Moshe Aviv, is one of the oldest and largest construction companies in Israel, and has extensive experience managing complex engineering projects for residential and commercial purposes, in Israel and abroad. The company recently completed the construction of the new Assuta Hospital, the largest and most advanced private hospital in Israel. Since its inception in 1963, is has been involved in many Israeli landmarks like the Aviv Gimel project in Ramat Aviv, the Weizman Center in Tel Aviv, the Weizmann Institute particle accelerator, the seawater desalination facility at Palmahim beach, the Diamond Exchange complex in Ramat Gan and many others.

More pictures of the construction are available there.