The Herzliya Local Planning and Building Committee says there is no adequate infrastructure for the 1,940 homes and commercial and office space that would replace the airport.
A selection of recent real estate deals in Israel including in Jerusalem, Tel Aviv, Hod Hasharon, Pardes Hanna-Karkur, and Beersheva.
Average office rent in Tel Aviv rose 4% to NIS 101 per square meter monthly in the second quarter, after falling 11% in 2020.
Tel Aviv District Court judge Hadas Ovadia found that the Tel Aviv-Yafo Municipality's criteria for the project did not amount to illegal discrimination.
The tower is one of two planned for the new industrial and residential zone on the site of Quarry 4.5 in Nesher.
The tower, at 33-37 Hayarkon Street on Tel Aviv's seafront, will contain both a hotel and residential apartments.
The parking lot under Tel Aviv's Kikar Atarim was bought by Sefi Tzvieli, a fierce objector to the plan to build 25-floor towers on the beachfront site.