Ehud Barak buys NIS 8-10m apartment in Tel Aviv project

Labor Party leader and Minister of Defense Barak is offering his existing apartment in the Akirov Towers for NIS 30 million.

Minister of Defense Ehud Barak has bought an apartment in the prestigious "Assuta Bauhaus Village" project on Tel Aviv's Jabotinsky Street. As leader of the Labor Party, Barak was the subject of sharp criticism over his apartment in the Akirov Towers development in the city, and even said in a television interview that he regretted buying it.

Barak will be a be a neighbor of some of the leading lights in Israel's business world, whose daily routines may well be disrupted by the heavy security that will envelope the building. Among them are Bank Leumi CEO Galia Maor, Mizrahi-Tefahot Bank CEO Eli Yones, Rami Kalish, one of the founders of venture capital fund Pitango, and the project's architect, Moshe Zur.

Sources informed "Globes" today that apart from Yones, the people named will live in the 26-storey tower blocks to be constructed on the site. Yones himself has bought an apartment in one of the two Bauhaus buildings on the site, which are scheduled for preservation and will be converted to residences.

The "New City" group, which is organizing a buyer group for the construction of 155 apartments on the site of the old Assuta Hospital, confirmed the report.

Barak's 31st floor apartment in the Akirov Towers is for sale for NIS 30 million, after it was first offered for NIS 40 million in August 2008. Apartments in the Assuta project range in price from NIS 2-3 million for a small apartment to NIS 15 million for a penthouse. According to sources close to the deal, Barak has bought a 200 square meter apartment on one of the higher floors of the tower, at a price estimated at NIS 8-10 million.

Published by Globes [online], Israel business news - - on February 18, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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