United Mizrahi Bank has purchased from Crystal Lake Executive Park, owned by the Michaeli family of New York, 550 sq.m. on the ground floor of the Jaffa Courts residential and commercial project on Jerusalem Boulevard, corner of
Salame Street. The bank will pay $1.5 million, at $2,700 a sq.m. The relatively low price is due to the fact that the bank bought the property as a shell, which the bank will use to open a branch.
Published by Israel's Business Arena on 23 July, 2000