US couple buys Tel Aviv apartment for NIS 84m

Dan tower Tel Aviv Credit: Guy Lieberman

An American couple planning to immigrate to Israel has bought the entire 28th floor of the Dan Tower on Arlozorov Street.

In one of the country's biggest real estate deals in 2020, an American couple planning to immigrate to Israel bought the entire 28th floor of the Dan Tower on Tel Aviv's Arlozorov Street for NIS 84 million. According to Israel Tax Authority figures, this is one of the largest amounts ever paid for an Israeli apartment.

The Dan Tower was completed in 2019 and is considered one of Tel Aviv's most luxurious residential projects. The 29-floor high rise is located at 17 Arlozorov Street, one block from the seafront, on the form Dan Cooperative bus depot.

The property was sold by Dan Bus Cooperative unit AMD Development Real Estate and Investments. The 730-square meter apartment was originally designed as two units of 360 and 370 square meters. The amalgamated apartment has two 60 square meter balconies and no interior fittings or fixtures. The agents in the deal were Eran and Shai Alayof of the Alayof Group together with Talia Weitz.

Previous big deals for Tel Aviv apartments include NIS 40 million paid in 2018 for a 360-sq.m. mini-penthouse with a 50 square meter balcony by Tadiran chairman Moshe Mamrud, and in 2019 a 377 square meter apartment was sold for NIS 38 million. Russian Israeli billionaire Valery Kogan is currently trying to sell the 23rd floor 1,200 square meter Sea 1 seafront apartment on Herbert Samuel Street in Tel Aviv, which he bought for NIS 110 million for twice that amount.

The American immigrants new neighbors in the Dan Tower will reportedly include former Israel Air Force commander General (res.) Eitan Ben Eliyahu and the Barcelona soccer player Sergi Roberto and his wife the Israeli model Coral Simanovich.

All the apartments in the Dan Tower have been sold except for the 870 square meter (including balconies) 29th floor penthouse which is on the market for NIS 200 million. Market sources believe that this is an unrealistic price, which explains why it has not yet been sold, even though the seller is prepared to lower the asking price.

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

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

Dan tower Tel Aviv Credit: Guy Lieberman
Dan tower Tel Aviv Credit: Guy Lieberman
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