The developers of the Meier on Rothschild tower in Tel Aviv have sold four more apartments in the building for NIS 30.76 million altogether. The building at the corner of Allenby Street and Rothschild Boulevard is owned by Berggruen Residential Ltd. (TASE:BRGN.B1), owned by Nicholas Berggruen, and Hagag Group Real Estate Development Ltd. (TASE: HGG).
Two of the apartments were sold a few days ago: a 197-square meter three-room apartment, with a 12.5-square meter balcony, on the top 37th floor, was sold for NIS 9.3 million to a foreign Jewish businessman who owns a German real estate company; and a similarly sized apartment was sold for NIS 9 million to a French national.
In two other sales, an Israeli businessman who operates in Miami bought a 130-square meter apartment with a 12.5-square meter balcony on a low floor for NIS 5.74 million; and a French Jew bought a 197-square meter apartment with a 12.5-square meter balcony on the same floor for NIS 6.73 million.
Berggruen Residential CEO Yigal Zemach said, "With the rapid progress in tower's construction, we are sensing a pick-up in the pace of sales and prices are also rising."
Published by Globes [online], Israel business news - www.globes-online.com - on October 17, 2012
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