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Showing posts with label rothschild ehad. Show all posts
Showing posts with label rothschild ehad. Show all posts

Monday, April 4, 2016

Nakash brothers to build another hotel on the 'tayelet'

Just a month after having announced that they plan to turn part of the Opera tower into a boutique hotel, the Nakash brothers announced that they are part of a partnership that has purchased a plot one block away from Opera building.

And they intend to build there yet another sea front luxury hotel, right on the Herbert Samuel promenade, the famous Tel Aviv 'tayelet'.

Minrav Projects, controlled by Avraham Kuznitsky, and a company controlled by the Nakash brothers and real estate agent Raz Oded have signed an agreement to establish an equal partnership to acquire 75% of a plot on Hayarkon Street for NIS 97 million. The 12-dunam (three-acre) site, located between Herbert Samuel, Hayarkon, Geula, and Yona Hanavi streets, is owned by developer Gabi Elbaz, whose personal wealth totals NIS 145.5 million.

Elbaz will retain 25% of the plot. The lot includes 3,500 square meters in construction rights, and the companies plan to promote a new 7,500-square meter urban building plan that will include residences and hotels as part of a luxury project. Minrav is focusing on the residential part of the project, while the Nakash brothers will concentrate on the hotel part. The companies have also agreed with Mizrahi Tefahot Bank on finance for the project.

Saturday, March 14, 2015

Klagsbald sells his Rotschild Echad flat for ₪44m

Dori Klagsbald recently sold his net 550 sqm 13th floor apartment in the prestigious Rothschild Ehad Tower in Tel Aviv to a foreign resident for NIS 44 million. Klagsbald bought the apartment, with its sea view and three patios, in 2008, before it was built, from Habas HZ Investments Lt that had constructed the tower. Klagsbald himself lives with his wife, Yael Tevet in Kfar Shmaryahu, and the luxury apartment in the tower, designed by architect Pitsou Kedem, has never been occupied. It is believed that Klagsbald made a handsome profit on the current deal. When the tower was marketed in 2008, apartment prices in the tower averaged $10,000-12,000 per sqm, while the current average price per sqm is double that.

Klagsbald's sale of his apartment follows former Bank Hapoalim chairman Shlomo Nehama's recent sale of his apartment in the tower for NIS 45 million. Owners of apartments in the tower, most of whom bought them in 2008, include businessman Idan Ofer and businesswomen Leora Ofer (his cousin), former Bank Hapoalim CEO Zvi Ziv, Fox-Wizel chairman Harel Wizel, former Electra CEO and former Azrieli Group CEO Shlomo Sherf, Colmobil chairman Dr. Shmuel Harlap, Jacob Shahar (owner of auto importer Mayer's Cars and Trucks), Saki Arnon (former wife of the late Adv. Yigal Arnon), and Apax Partners founder Sir Ronald Cohen, who is believed to be behind, together with a group of investors, the recent acquisition of the dolphinarium site from Josef Buchmann for NIS 200 million. In 2010, Iscar chairman Eitan Wertheimer, son of industrialist Stef Wertheimer, purchased an apartment covering all 800 sqm of the 29th floor of the tower, and billionaire Patrick Drahi, the controlling shareholder in Hot Telecommunication Systems, joined the list of those who have purchased an apartment in the tower.

Thursday, January 1, 2015

Top ten Israel property deals of 2014

"Globes" looks back at 2014 and ranks the ten most expensive homes sold in Israel over the past year. Six of the homes were in Tel Aviv, two in Jerusalem and one each in Herzliya Pituach and Ramat Hasharon.

Here is the list starting with the house of Arik Vardi that reportedly used to belong to Baroness Batsheva Rothschild and which is located in the Ramat Aviv neighbourhood:

  • NIS 130.1 million - Check Point Software Technologies Ltd. (Nasdaq: CHKP) founder chairman and CEO Gil Shwed, and "Globes" businessperson of 2014, bought a 560-sq.m. house in the Tel Aviv neighborhood of Afeka in August from ICQ founder Arik Vardi, who had bought the home in 2000 for just NIS 20.8 million.
  • NIS 110 million - Ofer Investments controlling shareholder Leora Ofer bought a penthouse in January in the Herbert Samuel project on Tel Aviv seafront from her own company. The 690-sq.m. apartment covers the 20th and 21st floors and also has a 300-sq.m. patio.
  • NIS 70 million - DEKA, controlled by Jacky Safra bought the 1,700-sq.m. Sherover House in Jerusalem's Talbieh neighborhood in December from the estate of Gita Sherover. Located by the Jerusalem Theater at the junction of Pinsker, Marcus and Dubnov streets, the house sits in a 1.1 acre lot and has building rights for an additional 1,120-sq.m.
  • NIS 45 million - PokerStars CEO Mark Scheinberg bought a 588-sq.m., 10-room apartment in Tel Aviv's Rothschild 1 project in February from former Bank Hapoalim (TASE: POLI) chairman Shlomo Nehama.
  • NIS 43.5 million - Canadian-Jewish businessman Moti Maximoff bought a 13th apartment in Tel Aviv's Meier-on-Rothschild Tower in March. The 800-sq.m. apartment has 48-sq.m. of balconies on the 31st floor of the 42-floor building. He bought the apartment through his company, Ironstone Capital.

Monday, February 24, 2014

Former Hapoalim chairman sold flat in 1 Rotschild

Shlomo Nehama has sold a 700-square meter apartment covering the entire 16th floor in the 1 Rothschild Boulevard tower in Tel Aviv to a foreign resident for NIS 45 million. The former Bank Hapoalim chairman owns another apartment on half of the building's 15th floor, where he reportedly intends to reside.

According to sources, at least five apartments in the project have been sold in the past three months by owners who had bought them on plan from the developer Habas HZ Investments Ltd in 2008-10. The sellers have made handsome profits.

Most of the other sales were of 300-square meter apartments for NIS 20-27 million, depending on the floor, and whether the apartment was sold in shell or completed condition. The average price is NIS 84,000 per square meter (ie. $24,000).

Saturday, March 17, 2012

A room with a view...

As the White City Residence project continues to rise, and as the developer still awaits for the final authorization to build floors 30 to 37, here are some pictures taken from the 15th floor of the tower and from apartments types A, B and C.

Enjoy the view of Neve Tzedek, Yaffo and the sea!

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Saturday, January 21, 2012

White City Residence January Update

The White City Residence Tower, now up to floor 15, continues to go up, with Shalom tower in the backgroud and the recently complete Rothschild Ehad on the right.

Check the slideshow below for more pictures of the work in progress...

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Sunday, March 20, 2011

More pictures from White City Residence

Just check the slideshow below for more pictures of White City Residence as well as the other skyscrapers going up in the neighbourhood.

Hat tip Ran Moneta.

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Sunday, March 13, 2011

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

Wednesday, March 9, 2011

Controversy over highrise plans for Neve Tzedek

The website of the Residents for Neve Tzedek non-profit shows a simulation of what the historic Tel Aviv neighborhood would look like surrounded by high-rises. Although the developers of the new projects are the ones in the media spotlight, each of them has the services of an architect, a professional who is supposed to be capable of controlling the impact of proposed projects on adjacent areas, particularly low-rise neighborhoods like Neveh Tzedek. Tall buildings are frequently the focus of controversy, not only from area residents who see themselves deprived of light and air, but also among architects.

There are those who argue that high-rises near Neveh Tzedek will solidify the urban fabric of the area and bring a more well-off population to working class south Tel Aviv. Others contend, however, that construction of tall buildings in the area damages the neighborhood both aesthetically and environmentally and imposes a particular burden on the area's infrastructure, which can barely support the neighborhood's current population.

In May of 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. Yashar was involved in the planning of three of the towers in the area, so his take on the construction of tall buildings in the area is especially significant. He says the debate should focus on whether the buildings are planned well and not whether they should be built. "It's true that any opinion of mine on the issue is suspected of a lack of candor, but I think the magic of the city is the interface among opposites: large and small, dilapidated and well-tended, poor and rich," he said. "I believe that in another 15 years or so, Tel Aviv will triple its number of residents and all of them will have to be housed. There will be high-rises and in my view that's good and they should be embraced lovingly."

Each of the towers Yashar is designing in the area is on an unusual building site, creating variations in planning. The One Rothschild Tower is near the northern end of Neveh Tzedek. The Elhanan East Tower, which has come to be called Neve Tzedek by the Sea, is to the west. The third high-rise, the Lieber Tower, is on an expansive site to the neighborhood's east, in an area that once housed factories. Yashar said the Lieber Tower was approved about 20 years ago as a 17-story office building covering a large area. Newer city plans called for a higher building on a smaller plot of land. The Lieber Tower project sits on an isolated building site, unconnected to its surroundings. Yashar said the tower would be cut off from the surrounding urban area in any event and that a park, through which a future light rail line is to run, is planned between the tower and Neveh Tzedek.

Not all of the high-rises Yashar has planned are divorced from their settings, however. The One Rothschild Tower meets the ground with a kind of glass box, which Yashar says is integrated into a stretch of Ahad Ha'am Street. At Neveh Tzedek by the Sea, the architect's office planned what it calls a pavilion along the length of the street, a four-story building, with commercial space on the ground floor and loft apartments on the upper stories. "It's clear that, in its size, the tower is a divergence from the street, but that is how we attempted to integrate it into the setting and not just to focus on the height [of the project]," Yashar said.

Some of the buildings on the neighborhood activists' list of threats to the neighborhood aren't high-rises at all. Though higher than Neveh Tzedek's historic abodes, a 13-story building is not really a skyscraper. Nonetheless, the 13-story Elifelet Towers at Elifelet and Shlush Streets would have gotten shot down if proposed today. In August city hall announced a ban on construction taller than three stories in Neveh Tzedek itself. The Elifelet project is comprised of ground floor commercial space, two floors of offices and another 10 of apartments.

Project architect Gidi Bar Orian says the lowest 15 meters of the building is designed to fit in with the other buildings in the area, creating the impression, from the perspective of the pedestrian, that the building is simply an extension of existing construction in the area. "We chose not to build with glass, but rather to preserve the look of the construction in the area and its simplicity," he explained.

The Gvulot ("Border" ) Tower on Eilat Street is also on the action committee's list of high-rises, but it is just 11 stories tall. Architect Moshe Tzur, whose office designed the project, said they used the criteria of existing plans for the site and the architecture features unbroken frontage and emphasizes the low streetscape. Architect Shlomo Gertner, who is planning the Elhanan West project, says his design turns the adjoining street into a green boulevard and an extension of Tel Aviv's other boulevards. "We have reduced the area that the buildings occupy by constructing upwards. The buildings along the length of Elhanan Street create the feeling of continuity on the street because the lower floors have a similar design [as other buildings on the street]. The edge of the building is planned with a uniform height, relatively low, with correct spacing between the buildings, creating views of the sea," he says.

Gertner maintains that Tel Aviv is becoming more dense and Neveh Tzedek is becoming a low-density island in an urban ocean. "Residents of Neve Tzedek enjoy low-rise construction, but they cannot force themselves on the entire city. To preserve spaces and nature around the city, one has to create density and therefore turn the relatively low-rise construction of the past into taller building," he said.

Read the rest on Haaretz

Sunday, February 13, 2011

Migdal buys Rothschild One

Globes is reporting that Migdal Insurance and Financial Holdings Ltd. has bought the Rothschild 1 Tower luxury residential and office building in Tel Aviv for NIS 40 million from A. AMN Investments Ltd., which bought it from Habas HZ Investments Ltd. a year ago. Migdal did not buy the building's 650-square meter commercial floor.

In August 2010, Bank Leumi rented 3,000 square meters in the building. The space was reportedly leased at NIS 70-100 per square meter in a four-year contract with two three-year options to extend. Habas sold the Rothschild 1 Tower to AMN for NIS 58 million in December 2009. Habas nevertheless remained responsible for leasing the property in order to maintain the building's character by choosing the tenants.

The 32-storey Rothschild 1 Tower has 37 apartments. Gross proceeds from the apartment sales were NIS 800 million. Eitan Wertheimer, the richest man in Israel, and a foreign businessman bought the last two apartments, each 700 square meters in area, on the 28th and 29th floors, for NIS 46.5 million in May last year. That's $12.6 million each which translates into a cost per square meter of $18,000.

Sunday, November 14, 2010

Tel Aviv Master Plan


The Tel Aviv skyline is due for some big change in the coming years. You can see from this simulation how the landscape will change: existing building are in blue and new ones are in purple. The map which shows the south of Tel Aviv includes such new developments as the White City Residence, the Rothschild One or the David Promenade.

More details on the Tel Aviv master plan can be found here and there.