Subscribe to Print Edition | Fri., July 25, 2008 Tamuz 22, 5768 | | Israel Time: 06:16 (EST+7) web haaretz.com   Back to Homepage Rosner's Domain Diplomacy Defense Jewish World Opinion National Print Edition Car Rental Books Haaretz Magazine Business Real Estate Easy Start Travel Week's End Anglo File

The $34-million apartment. Last update - 14:57 31/03/2008 For sale: Tel Aviv's most expensive flat, a steal at $34 million By Guy Lieberman Tags: real estate, Tel Aviv  The elite Tel Aviv real estate market is sailing to unrecognizable heights these days, at least as far as contractors can see. The Gindi Group, which holds construction of the G Tower in central Tel Aviv, recently announced that it would be selling one of its apartments for $34 million - the highest-priced flat in the city. The cost is nearly twice that of Israel's currently highest-priced apartment, purchased by Idan Ofer on Rothschild Boulevard 1 for $17.1 million. Advertisement The question now is whether anybody will actually be willing to pay the demanded amount. The apartment in question is a triplex flat combining a former duplex and penthouse apartment on the 24th, 25th and 26th floors, just under the triplex purchased more than a year ago by the holder of controlling interest for Bank Hapoalim, Shari Arison, for $13 million. This new triplex sits at 1,500 square meters and has a 360 degree panoramic view of the city. The demanded price includes a value of more than $22,000 per square meter. On the one hand, the price indicates that the sellers are sure someone will pay up. But on the other hand, the whole matter seems an issue of compulsion, or just a gimmick that will not be able to yield any kind of real deal. "After all the noise, Gindi admits that they have not managed to sell the two apartments and are creating a buzz around the possibility of connecting them. That's it," said one real estate market man in Tel Aviv. Indeed, in the eyes of most real estate agents in Tel Aviv, the rising prices are not reasonable. A few months ago, the Oranim Group - which owns the Sea One Project on Hayarkon Street - decided to abandon their plans of selling a penthouse facing the sea for $25 million, after they were unable to sell it after a few years of trying. If Ofer's $17.1 million apartment ranks the measure of prestigious apartments in Tel Aviv, then real estate agents say there is no justification for doubling the price Bookmark to del.icio.us   The bigger apple Study shows Tel Aviv is more expensive to live in than New York. When bedbugs bite After 40 years' absence, Israel braces for return of the bedbug.   1.   Sounds unreal to me but hey the rich can afford anything I suppos 12:13  |  Sara 31/03/08   2.   Any pic? 13:55  |  Andrea 31/03/08   3.   TO ANDREA. NO 2. 19:24  |  DANNY. 31/03/08   4.   Outrageous! Accompanying story of 1/3 of Israelis going hungry... 19:25  |  bat yam 31/03/08   5.   DOH 19:39  |  zionist forever 31/03/08   6.   overrated and overpriced 01:02  |  noa cohen 02/04/08   7.   Where? 18:55  |  Mexi 24/07/08   8.   expensive flat 23:39  |  Albert 24/07/08

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