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.

Tshuva to sell remaining stake in Bezalel Market

Yitzhak Tshuva's Elad Israel Residence Ltd has signed an agreement to sell its 50% stake in the Bezalel Market project in central Tel Aviv to Carasso Real Estate Ltd. for NIS 55 million. The agreement is still subject to approval by the landowner, the Tel Aviv-Jaffa Municipality. In 2010, Elad Israel Residence sold half of the project to ZMH Hammerman Ltd. for NIS 50 million, and it put the rest of its rights up for sale a year ago. According to ZMH, 50 of the project's 153 apartments have been sold already. The Bezalel Market project will include 153 apartments and 2,200 square meters of commercial space on a 16-dunam (four-acre) site between King George Street, Bezalel Street, Bethlehem Street, and Tchernichovsky Street. The project will also have a 640-space underground parking garage, including 200 spaces for the public. The plan was recently approved, after years of objections and changes, and the earthworks have begun. Bank Leumi is financing the project.