The offer is $7 million higher than the surveyor's valuation for the Zameret Park lot.
A group of London investors is offering $30 million for a lot in Tel Aviv’s Zameret Park neighborhood. The offer is $7 million higher than the surveyor's valuation of $23 million, or $140,000 per apartment.
The lot is owned by 12 private parties, who filed to liquidate their partnership with the Tel Aviv Magistrates Court two months ago. The court appointed Adv. Gad Frankel as receiver for the lot. The lot for sale is lot 11: a 3.7-dunam (0.925-acre) lot, zoned for 164 apartments in a 38-storey high-rise with 30,000-sq.m. in gross space.
Frankel decided to publish a tender for the lot. The tender is considered one of the hottest on the market. The London consortium is incorporated as a private investment company.
Published by Globes [online], Israel business news - www.globes.co.il - on January 5, 2006