Exclusive: Israeli billionaire Teddy Sagi has recently completed the purchase of a house at 56 Galei Techelet Street in Herzliya Pituah for NIS 100.8 million. The 870 square meter, seven room house is on a 1,000 square meter lot with a swimming pool. The land registry says that a NIS 50 million mortgage was taken from Bank Leumi to purchase the house.
Galei Techelet Street has the most expensive homes in Herzliya and the entire country. The street runs along cliffs overlooking the sea making the even-numbered homes (35 out of 60) on the coastal-western side of the street especially expensive. Homes on the western side of the street, usually on 1,000 square meter lots, with an open view of the Mediterranean, fetch double the price of the homes on the eastern side.
The street has the most expensive home in Israel at number 40, which was bought by the late Sheldon Adelson in 2020 for NIS 230.35 million from the US government. The unique 1,000 square meter house on a 5,000 square meter lot previously served as the residence of the US Ambassador to Israel.
Sagi himself already owns 46 Galei Techelet Street, which he bought in 2010 from tech entrepreneur Zaki Rakib for NIS 145 million. Rakib himself had bought the house from Austrian businessman Martin Schlaff for NIS 101.3 million in 2005.
In 2021, Sagi also bought 13 Galei Techelet - a 650 square meter house on a 1,500 square meter lot on the eastern side of the street for NIS 43.5 million from Michel Taman.
Published by Globes, Israel business news - en.globes.co.il - on February 5, 2023.
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