The transaction is valued at around $11 million. General Manager Ezer says: "I estimate that the deal at Beit Perl-Drali will not go ahead."
Bank Mishkan is negotiating the purchase of 4,000-4,700 sq.m. office space in one of three buildings in Tel Aviv, after a deal to buy Perl-Drali House on the city’s Rakevet Street encountered difficulties, and is more than likely not to go ahead. In any event, the deal is valued at around $11 million. The bank is examining the following three offers:
- Floors 5-8 in the Levinstein tower blocks, at 23 Derech Petah Tikva, an overall area of 4,000 sq.m. The proposed price is $2,700 per sq.m. Levinstein promises a separate entrance. The building is due to be ready for occupation at end 1998.
- The central building out of three owned by Moscovitz and Kahtan in Yad Eliyahu, 4,710 sq.m., for sale at $2,350 per sq.m.. Occupation is scheduled for March 1999. Moscovitz is conducting drawn out negotiations for renting out the building to the Government Housing Administration, at $16 per sq. m. Moscovitz recently demanded a 15-20 year lease contract, instead of the 10 year contract in the deal in the adjacent tower block, which has already been concluded. The Housing Administration rejected the proposal and announced that if negotiations are not completed within two weeks, there will be no deal. Recently Moscovitz offered the building to Bezek, but as reported in "Globes," the latter preferred to rent 4,700 sq.m.in Ramat Gan’s Beit Avgad. There is also a possibility that Beit Bavli-Broide will be put up for sale.
Published by Israel's Business Arena July 5, 1998.