One of the first buildings in Tel Aviv, on Lilienblum Street, has been sold to a buyers group for NIS 15.5 million. The preserved building has been owned by 17 Lilienblum Street House Ltd. since 1943. The building, on a 567-square meter lot, has a ground commercial floor, occupied by two well-known entertainment spots, the Shesek and the Mishmish (the Logquat and the Apricot), topped by an empty residential floor.
The building was built in 1909 by the Tolchinski family, one of Tel Aviv's first settlers. The backyard, shared by a eucalyptus tree that still stands, was the site of Tel Aviv's first stock market, and the front held a cafe. The tree will be kept under the property's preservation plan.
Sources inform ''Globes'' that the buyers group represents a company of urban developers and redevelopers. Under the building's urban development plan and preservation plan, the commercial floor will be renovated, a basement will be added, as well as a second residential floor and attic. A five-storey residential building with a basement will be added to the rear of the lot, bordering a building facing Rothschild Boulevard. The two buildings will have 16 apartments altogether.
Published by Globes [online], Israel business news - www.globes-online.com - on October 3, 2012
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