Sources inform ''Globes'' that developer Yair Eini is offering a 900-square meter penthouse on the 27th floor of in his project at 30 Rothschild Boulevard in Tel Aviv for $18 million, reflecting a price of $20,000 per square meter. Construction of the high-rise has just began and is scheduled to be competed in two years.
Eini's partner, Yoram Avner, bought the 26th floor of the building on which he is offering 394-square meter apartment with a 68-square meter balcony for $3.4 million. The price is almost the same as the price at which he bought the five-storey building at 32 Allenby Street at Mograbi Square in Tel Aviv, 400 meters from the beach. After renovations and the addition of two floors, apartments in this building will mainly be offered to French Jews.
The 1,342-square meter lot for the high-rise at 30 Rothschild Boulevard was bought by a SYY Properties Ltd., joint venture of Afik Hayarden Holdings (2006) Ltd. (TASE:AFYR.B1), owned by Yair and Shomo Eini, and Yoram Avner (SYY stands for the initials of the developers), for $10.2 million in January 2006 from the private parties who owned it.
The high-rise follows similar luxury projects launched by Habas HZ Investments Ltd. (TASE: HABS) at 1 Rothschild Boulvard and Berggruen Residential Ltd. (TASE:BRGN.B1), which is building the Meier on Rotshchild.
Published by Globes [online], Israel business news - www.globes-online.com - on September 7, 2008
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