Exclusive: US billionaire Sheldon Adelson is in advanced talks to buy the US Ambassador to Israel's residence in Herzliya Pituah north of Tel Aviv for about NIS 300 million, sources inform "Globes." This would be the most ever paid for a home in Israel.
For the past three weeks, senior US officials in Israel have known that the deal is close to being signed. The US administration is eager to fast track the deal so that it is completed before the US Presidential elections in November to emphasize that the transfer of the US Embassy from Tel Aviv to Jerusalem is a 'fait accompli.'
In other words any new US administration would not be able to relocate a new US Ambassador to Israel back to live in Herzliya Pituah so that he could serve his country from the former US Embassy to Israel in Tel Aviv's Hayarkon Street. The current US Ambassador to Israel David Friedman works and lives in the Jerusalem region and does not use the Herzliya property.
The US Ambassador's residence is located at 40 Galei Tachelet Street in Herzliya Pituah in a 1,000 square meter house on a 5,000 square meter lot. The house, which was built in the 1960s, is built on the eastern part of the lot with sloping gardens to the west and a sea view.
Since "Globes" first reported in June that the house was for sale, Sheldon Adelson was tipped as a potential buyer. Very few people have the wealth to buy the home and Adelson is a major donor to both President Trump and Israel and has close connections to Israel. In previous years, Adelson was often seen on the lawns of the US Ambassador's home in Herzliya to celebrate American Independence Day on June 4
The US Embassy in Israel has previously confirmed that the Herzliya Pituah home is for sale. It said in a statement, "Following discussions about moving the Embassy to Jerusalem it was decided to sell the property in Herzliya. Many of the Embassy's activities have been transferred to Jerusalem and the Ambassador has based himself in an official home in the region. We expect that the sale of the property will take place in the coming months.
Israel's most expensive street
Galei Tachelet Street in Herzliya Pituah is considered Israel's most expensive residential street with some of the country's wealthiest individuals. The street is in the western part of the town and runs along a cliff overlooking the sea.
Earlier this year, Russian-Israeli billionaire Roman Abramovich paid the most for an Israeli home to date when he bought a house several streets away in Herzliya Pituah from British hedge fund manager Alan Howard for NIS 226 million.
No comment has been received from the Adelson family.
A US Embassy official in Jerusalem said, "The sale of the Chief of Mission residence in Herzliya has nopt yet been finalized. The State Department does not comment on ongoing real estate proceedings."
Published by Globes, Israel business news - en.globes.co.il - on August 31, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020