Bat Yam seafront lot sells for NIS 24m

Bat Yam beachfront

The 550-sq.m. lot  has construction rights for a five-floor building with 11 apartments, and 80 sq.m. of business space on the ground floor. 

A group of investors headed by businessman Amos Maiman has won a pricing procedure for the purchase of a lot at 101 Ben Gurion Street near the Bat Yam beach promenade for NIS 24 million. Several companies competed in the procedure, including the Reality fund, Sasson Hugi, and Nissim Eliahu. Land appraiser Yosef Ben-Yonah assessed the lot's worth at NIS 16 million.

The 550-sq.m. lot, located south of the Leonardo Hotel, is currently used as a public garden. It includes construction rights for a five-storey building with 11 apartments, 999 sq.m. of residential space, and 80 sq.m. of business space on the ground floor. The lot belongs to several private owners, including Hashava the Holocaust Restitution Company. The lot was sold in a receivership proceeding by Advocates Kinneret Bar-Lev and Yossef Moadim Le Simcha, and the sale requires approval from the Family Court.

Maiman is a diamond trader who began dealing in real estate in recent years. His most prominent deal to date was also in Bat Yam, when he bought the "Ma'ariv" daily newspaper's printing house in 2012 for NIS 65 million. Shortly after this acquisition, Maiman sold the printing house to the Sheldon Adelson-owned "Israel Hayom" daily newspaper for an estimated NIS 75-80 million.

Published by Globes [online], Israel Business News - www.globes-online.com - on February 8, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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Bat Yam beachfront
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