Matthew Bronfman buys Tel Aviv apartment for NIS 50m

Matthew Bronfman Photo: Shai Sadeh

The IKEA Israel controlling shareholder is selling his Manhattan home and is expected to move to Israel.

The final apartment in the Meier on Rothschild luxury tower in Tel Aviv has been sold to American Jewish billionaire Matthew Bronfman, sources inform "Globes." Bronfman is paying NIS 50 million for the duplex apartment on the 38th and 39th floors of the high-rise residential tower at the corner of Allenby Street and Rothschild Boulevard. The 540 square meter apartment has its own internal elevator and faces south and west.

New York born Bronfman is the controlling shareholder in IKEA Israel and is the former controlling shareholder in Israel Discount Bank (TASE: DSCT) and Israel's Blue Square Real Estate.

In April 2017, Bronfman married an Israeli, Melanie Lavie and they have a son James Raphael and the family are now expected to make their permanent home in Israel. Bronfman, who has seven children from his three ex-wives, has reportedly put his current home at 400 Park Avenue South in Manhattan on the market for $12.5 million. At the beginning of 2018, "Globes" reported that Bronfman was renting the Rothschild 17 apartment of ad executive Eyal Chomski for an estimated NIS 30,000 per month.

Developed by Berggruen Residential Ltd. (TASE:BRGN.B1), Meier on Rothschild has 100 apartments, including six penthouses and duplexes, on 42 floors in the heart of Tel Aviv. Berggruen bought the land in 2006 for NIS 126 million and marketing of the high-end luxury residential project began in 2007 and with the sale of the final unit has now been completed.

Published by Globes, Israel business news - - on May 14, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

Matthew Bronfman Photo: Shai Sadeh
Matthew Bronfman Photo: Shai Sadeh
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