A European Jew has bought a 150-square meter three-room apartment with a 12.5-square meter balcony on the 22nd floor of the 42-storey Meier on Rothschild tower in Tel Aviv for NIS 10.5 million. The price amounts to NIS 70,000 per square meter (excluding the balcony).
75% of the apartments in the Meier on Rothschild tower, owned by Berggruen Residential Ltd. (TASE:BRGN.B1) and Hagag Group Real Estate Development Ltd. (TASE: HGG), have been sold, since marketing began in 2008. According to Berggruen Residential, three of the building's six penthouses and twenty apartments are still unsold.
The Meier on Rothschild tower is under construction at the corner of Rothschild Boulevard and Allenby Street. The asking price for the 1,418-square meter duplex penthouse in the building for NIS 170 million, making it one of the most expensive homes ever offered for sale in Israel.
Published by Globes [online], Israel business news - www.globes-online.com - on December 4, 2013
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