Home News Tel Aviv luxury apartments set new price records

Tel Aviv luxury apartments set new price records

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A new price record for luxury apartments in Tel Aviv was just set this year at David Promenade Residences, where two units sold for around $26 million each.

According to Holland Real Estate and Neot Shiran, the two families who bought them each paid 88 million NIS for 438 square meters (4,715 square feet) of living space and a 145 square meters (1,561 square feet) terrace that fits a swimming pool. i paid. , Tel Aviv, Discontinued Distributors.

The two-story penthouses are located on the 24th and 25th floors and offer panoramic sea and city views from the 6-meter (20-foot) high ceilings in the living room. They were purchased in shell condition, and the family finishes them to their own original specifications, the agency said.

The total price of both units was NIS 176,000,000 ($51,187,000).

The price represents the cost per square meter of construction for NIS 200,000, excluding finishing and purchase costs, easily surpassing previous prices. “Normal luxury price” This year it’s NIS 130,000 to NIS 140,000 set by The Residence at Mandarin Oriental, Tel Aviv, next door to what was once the Dolphinarium.

The 28-story David Promenade Residence on Tel Aviv’s waterfront is right next to the 5-star David Kempinski Hotel. opened earlier this year, Right across from the waterfront. Residents enjoy benefits offered by the hotel next door, including restaurants, spas, and room service to the apartments.

David Promenade Residences in Tel Aviv Beach (Courtesy of Holland Real Estate)

With the support of the Nahal Group, the David Promenade Residences were designed by Feigin Architects, an Israeli firm that has been in business since 1963 and has a long list of notable projects. These include the David Intercontinental Hotel in Tel Aviv, the Waldorf Astoria in Jerusalem, the King David Tower in Tel Aviv, the David Dead Sea Resort & Spa Hotel, the Grand Court Hotel in Jerusalem, the Royal Beach Hotel in Eilat and the parks and malls in Eilat.

The recently sold apartment in the building is more than just two units.

Holland Real Estate and Neot Silang, which brokered the tower’s sale, said four homes in the tower had sold for a total of $72,700,000 in the past few months.

For those looking for a more affordable price, since June the completed 208 sqm and 70 sqm balcony (2,239 sq ft and 753 sq ft) apartment sold for 30 million NIS ($8,725,000) at 158 Another sqm apartment (1,701 sq ft in shell state) sold for nearly 22 million NIS ($6,400,000).

Penthouse Terrace at David Promenade Residences Courtesy Holland Israel

Two-story penthouse with 680 square meters of living space (7,319 square feet) and a full terrace on the 20th and 21st floors of David Promenade Residences for NIS 180 million ($31,410,000) in 2021 in Shell condition Sold. This equates to “just” NIS 158,824 ($46,191) per square meter of living space. And still for sale on this block is his 180-square-meter (1,938-square-foot) three-bedroom and 62-square-meter (667-square-foot) balcony apartment on the 13th floor, priced at his NIS 33,000,000 ($10 million).

David Promenade Residences 13th floor apartment for sale by Holland Real Estate and Neot Shiran (Courtesy of Holland Real Estate)

It is also rapidly rising on behalf of potential luxury apartment owners in Tel Aviv. Port Tel Aviv in the Old North is a 76 sqm (818 sq ft) NIS 8,275,000 ($2,406,671) one bedroom apartment with a 13 sqm (140 sq ft) balcony (140 sq ft) designed by star architect Ilan Pivko We offer a starting price of

On Rothschild Boulevard, a new Kempinski-linked apartment is being completed Villa Rothschild ProjectA property under development that combines traditional low-rise design with luxury villas Sde Dov Airport It also promises to offer a range of luxury homes in the coming years.

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