Stef Wertheimer sells huge house for bafflingly low NIS 4m

Wertheimer's Kfar Vradim house Photo: Paul Orleib

Wertheimer invested an estimated NIS 50 million in the Kfar Vradim property, which includes 1,400 square meters of buildings on 3,300 square meters of land.

Israeli billionaire has sold his huge house and large grounds on Kfar Vradim in the Galilee for the bafflingly low price of NIS 4 million to a buyers group, sources close to the matter have told "Globes." The buyers group will undertake minor renovations before reselling it at a far higher price.

Wertheimer sold the house in Zavitan Street about a year ago. The property is built on 3,300 square meters of land in the southwest of the town, on an amalgamation of five former lots and commands a view of the Mediterranean and Rosh Hanikra.

There are three buildings on the land. The main house covering 560 square meters, designed by architect Ilan Pivko, was built 20 years ago and has a 60 square meter uncovered verandah and spacious underground parking. There are 840 square meters in two other buildings - one described as a library, and the other as workers quarters. The full building rights for the land have been used.

Wertheimer was ranked by Forbes in April as Israel's wealthiest person and the world's 432nd most wealthy person with a fortune of $6.2 billion. He invested an estimated NIS 50 million in building the Kfar Vradim home and estate.

All this begs the question as to why Wertheimer sold the property for a 'paltry' NIS 4 million. There is no clear answer but Wertheimer who is almost 95 has anyway been living in Tel Aviv in recent years and clearly has no interest in recouping the true value of the home. It is also known that as the house was being completed Wertheimer began acrimonious divorce proceedings with his second wife Yael and this may also influence the sale. There are those in Kfar Vradim who claim that to the best of their knowledge nobody in the family has ever actually lived there.

Published by Globes, Israel business news - en.globes.co.il - on July 7, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Wertheimer's Kfar Vradim house Photo: Paul Orleib
Wertheimer's Kfar Vradim house Photo: Paul Orleib
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