The Siri brothers bought a plot in Ramat Gan for $524,000. The Haifa Federation of Workers bought a building in Haifa for $850,000.
Mekorot Shlita, controlled by Roni Ben-Yehuda and Moshe Salem, has bought the Labor Party's Tel Aviv region building on Ben Ami Street, corner of Beilinson Street. Mekorot will pay $1.72 million, almost the same price as evaluated by appraiser Yermiyahu Aloni two years ago. The building comprises 1,210 sq.m., and Mekorot will therefore pay $1,420 per sq.m. The relatively low price stems mainly from the lack of parking facilities in the building, and the fact that 260 sq.m. of the space is a basement, albeit for commercial use.
The Labor Party is selling all its properties through tenders. Seven companies submitted bids for the property on Ben Ami Street, and the highest bid was for $1.6 million. The Party conducted a pricing auction, in which the Aharon Rubinstein company and a group represented by an attorney participated.
The Labor Party has recently sold properties totaling $4.85 million. The main deals were:
- Tel Aviv: Five apartments in North Tel Aviv were sold for $970,000.
- Haifa: The Histadrut 1,230 sq.m., three-floor building at 2 Houri Street was sold to the Haifa Federation of Workers for $850,000, i.e. $690 per sq.m., in a deal that illustrates the city's weak real estate market. It was evaluated at $700,000.
- Ramat Gan: A 700 sq.m. plot at 115 Uziel Street, containing a 250 sq.m. building, was sold to the Siri brothers building contractors for $524,000, 6% less the evaluation price. At the pricing auction, Siri beat Mekorot Shlita and local contractor Rami Shebiru.
In addition, negotiations are underway for the following sales deals:
- A 2,620 sq.m. building in Tel Aviv for $2.4 million.
- A building at 44 Harakevet Street for $1 million.
- A 1.23 dunam plot at 12 Ha'Ma'apilim Street in Ashdod (containing a 650 sq.m. building) for $400,000.
The Party has just published tenders for the sale of another eighteen properties, most of which it owns, for an estimated $5 million or more.
Published by Israel's Business Arena on 20 February, 2000