Millionaire Sheldon Adelson will pay $4 million for the property.
Millionaire Sheldon Adelson of the US, is in advanced negotiations to buy a 1,000 sq.m apartment located in a luxury apartment tower to be built in Tel Aviv. The news was told to "Globes" this morning by one of the project developers. Adelson will pay $4 million for the property.
The project will be built by Africa-Israel (25%), Lumir (25%) and private owners Ramat Aviv properties (50%), on the site of the old Hotel Ramat Aviv. Construction will begin shortly, as soon as building permits are issued by the Tel Aviv municipality. The apartment in question occupies floors 19-21 of the 22 story building, and will include a swimming pool.
The Residence Ramat Aviv tower will have a total of 77 apartments, of which 20 have already been sold. Apartments are being sold at some $4,110 per sq.m, including VAT. This is the highest price ever for non-beach-front apartments in Tel Aviv.