The company will pay $2 million less than the assessor’s valuation and will build 105 apartments on the lot.
Construction company Kfir has purchased the Ben-Ari Hadar Site in Bat Yam, near the sea, for $7.5 million. The site is designated for the construction of 105 apartments. This is the first big real estate deal in the area for months and is subject to the approval of the Tel-Aviv District Court.
The lot is situated at the corner of Josephtal, Masaryk and Noiklen streets in Bat Yam, the second row from the sea. Divided into two adjacent parcels, the lot is 6.47 dunam (1.6175 acres) in area. Mizrahi & Sons built 28 apartments on part of the lot in the past, and building rights remain for 105 apartments, at 180%, of which 170% will be residential and 10% commercial. The location is considered one of the best in Bat-Yam.