Georgian tycoon buys Herzliya Ritz-Carlton penthouse

Yitzhak Mirilashvili paid NIS 13 million for the 12th floor, 103 square meter project.

Georgian-Israeli tycoon Yitzhak Mirilashvili, son of oligarch Mikhael Mirilashvili, has bought a penthouse in the Herzliya Ritz-Carlton project for NIS 13 million. The 12th floor penthouse was the last to be sold in the exclusive project above Herzliya's Arena mall adjacent to the marina.

The project was built by Tidhar. The 103 square meter project overlooks the marina and also has a 55 square meter balcony. The price reflects NIS 100,000 per square meter. By law, as this is defined as a vacation home, Mirilashvili can only live in the apartment for up to 180 days per year and must leave it empty or rented for the rest of the time.

Mikhael Mirilashvili, sometimes called the "Mark Zuckerberg of Russia," last April sold his 40% stake in VK, Russia's largest social network, for $1.12 billion.

Published by Globes [online], Israel business news - - on December 29, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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