Beit Sokolov will be preserved and a 17-floor high-rise will also be built.
The Israel Journalists Association has put Beit Sokolov (Journalists House) in Tel Aviv up for sale. The building at 4 Kaplan Street is slated for preservation but the 3,600 square meters lot also has building rights for a 17-floor building with 14,000 square meters of space including 10,000 square meters for apartments as well as commercial and office space. The building rights also include an underground car park. The rights to construct the new high-rise also include the building on the corner of Itamar Ben-Avi street, which houses of the offices of the IDF spokesman and the military censor.
The Journalists Association decided to sell the building now after resolving a dispute with the Israel Land Authority about various fees and debts. The Journalists Association will keep offices in the new building and says it preferred selling to a specialist real estate development company rather than building the project itself.
"Globes" estimates that the existing buildings and lot are worth NIS 150 million.
Published by Globes [online], Israel business news - www.globes-online.com - on August 13, 2014
© Copyright of Globes Publisher Itonut (1983) Ltd. 2014
Beit Sokolov