Galei Tehelet Street in Herzliya Pituah, Israel's most expensive street, provides headlines about mega-prestigious deals once every few years. But even on this street there is expensive and less expensive. A house is now for sale in the street's most expensive part, the central section, where large elevated blocks reach to the cliff edge. There are only 12-13 houses in this section.
"Globes" has learned that Jacqueline Herzikovitch, mother of businessman Eilon (Lonny) Herzikovitch, and whose family owns Isfar, importer of Sony in Israel, is offering her house at Galei Tehelet 60 for sale at $21 million.
Despite the economic crisis and the downturn in luxury real estate, Herzikovitch hopes that she will obtain the asking price for the property. It has been in her family for decades, and extends over one-and-a quarter dunam (just over quarter of an acre) of which 350 square meters are built upon. The house is considered modest by the standards of luxury of the street. Herzikovitch's neighbors on one side are Dalia and Professor Joseph Prashker (Technion). Dalia Prashker was among the founders of New Dimension Software (now BMC Software Israel). On the other side is Irit Strauss, a shareholder in Strauss-Elite, who was formerly married to Leon Koffler.
It is expected that, as with previous deals in the street, the buyer will demolish the existing house on the block and build a new home double the size, in order to exploit fully the building rights attaching to the property.
Other neighbors on this part of the street are Zaki and Vivien Rakib, who bought the most luxurious house there for $22 million from Austrian businessman Martin Schlaff in 2005. Zaki Rakib is a high-tech entrepreneur. The US ambassador, another neighbor, lives on the largest block four dunams (one acre).
Jacqueline Herzikovitch confirmed the details to "Globes", saying she had decided to sell the house in which she has lived for thirty years because "the time has come to sell, and I'm moving to live beside Lonny in Tsahala."
Sources inform "Globes" that the sale is being handled by Rafi Kalina, an agent who specializes in luxury homes, and who dealt with the sales of other houses in Galei Tehelet Street. He is also currently marketing plots owned by Africa-Israel in Savyon. Kalina declined to comment on the details.
Published by Globes [online], Israel business news - www.globes.co.il - on April 20, 2009
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