The tenders committee of the Israel Lands Administration (ILA), at its August 18th meeting, rejected a proposal made by Rassco -Brachfeld to purchase lot number 1 at Machaneh Allenby, allocated for 112 apartment units. The group bid $8 million on the property. The tenders committee did not give reasons for its decision. The internal protocol stated that "the committee rejects discussion on bids for this property."
The Rassco group, together with brothers Marcel and Shmuel Brachfeld (25%), presented the highest bid on the property. Only one other bid for tender was made, by Jerusalem contractor Mordechai Aviv, who offered $6 million for the lot.
The rejection of the offer is surprising, as at the same meeting, the committee recommended selling Rassco-Brachfeld the adjacent lot number 2, also slated for 112 apartments, for $6.4 million, with the $500,000-700,000 in expenses, associated with vacating current tenants, at the buyer’s expense.
The unsold 2.26 acre property, intended for apartments measuring 208 sq.m. each, including service and parking areas. Lot number 2, which was sold, is a 1.84 acre area, intended for apartments measuring 196 sq.m each.
The price offered for lot number 1 is similar to that which will be paid for lot number 2.