The Herzliya Local Planning and Building Committee has approved for deposit a plan promoted by Ackerstein Group (TASE: ACKR) in which Beit Ackerstein will be demolished and replaced by a mixed-use 30-floor tower with apartments Beit Ackerstein is at the northern entrance to the Herzliya Pituah industrial zone between Medinat Hayehudim Street and Hameda Street adjacent to the Coastal Highway (Road 2) The existing building has just five floors with 5,500 square meters of space The new tower will be built on a 2,360 square meter lot The new tower will include 59 small apartments including 12 apartments that will be leased for 20 years at a 20% discount Published by Globes, Israel business news - en.globes.co.il - on August 21 © Copyright of Globes Publisher Itonut (1983) Ltd. Two adjoining semi-detached houses in a new neighborhood in Herzliya Pituah on Hannah Meron Street were recently sold for NIS 16 million and NIS 17 million The new project is in the southern part of Herzliya Pituah east of the marina and includes the Marina Lee area spreading over 80 dunams (20 acres) on which planning was approved a decade ago for 232 housing units including 42 terraced and semi-detached houses as well as high-density housing the Ofer brothers sold stakes in the land to various companies they sold eight dunams (2 acres) with twelve lots to Rosengard Investments for NIS 89.6 million which includes all the lots on Hannah Meron Street between Wingate and Yiftach Streets Rosengard began construction of 24 terraced and semi-detached houses but before completing them sold the project in October 2021 to Neumann Investments and Properties for NIS 170 million The dynamics: the first house was sold for NIS 13.3 million Neumann Investments and Properties began marketing the houses at the start of 2022 and according to the Israel Tax Authority website 22 of the 24 houses have already been sold All 24 homes are similar semi-detached houses built on 330 square meter lots Each house has six rooms and is 310 square meters in size including a basement and a 220 square meter garden The first house in the project was sold in February 2022 for NIS 13.3 million but prices very quickly began to rise By June 2022 the average price for the houses being sold was NIS 13.5 million climbing to NIS 13.7 million by the t5hird quarter of 2022 with homes being sold for NIS 14.15 million in February 2023 In May and June 2023 homes were sold for NIS 14.6 million and by the first day of the war in October two more deals were completed at NIS 16 million and NIS 17 million the semi-detached homes Herzliyah Pituah's Hannah Meron Street have been bucking the national trend who specializes in financial support for construction projects "From comparable deals it turns out that in total the prices in the project have risen by about 20% since its purchase and most of the price increase took place over the last year The reasons for this: limited supply and demand for new land lots the location of the project near the sea and Herzliya's marina This is a closed project with a high level of construction "There are also a number of individual units left for sale which allows the developer to raise prices the buyers it was found have the ability to meet the high prices but it is impossible not to be impressed by the increase of NIS 2 million which was recorded over the last few months And what about the price difference of NIS 1 million between the two houses sold recently Yaacov explains that these are two adjoining houses because it does not border any neighbors." It turns out that even earlier semi-detached houses in similar positions fetched higher prices but the difference between the corner houses and houses on regular lots reached 'only' about NIS 500,000 Published by Globes, Israel business news - en.globes.co.il - on December 25 The US Ambassador to Israel's residence in Herzliya was sold for $67 million Earlier this week the Israel Tax Authority which has public records for all real estate deals in Israel posted that the house at 40 Galei Tachelet Street in Herzliya Pituah was sold on July 31 for NIS 230,353,536 or $67.6 million according to that day's exchange rate of 3.408 This figure slightly exceeds the previous record amount paid for a house in Israel when Russian-Israeli billionaire Roman Abramovich bought a home several streets away in Herzliya Pituah from British hedge fund manager Alan Howard for NIS 226 million The US Embassy in Israel only acknowledged the deal one month after it was completed but did not state the amount that it was sold for or the name of the buyer Sources informed "Globes" at the time that the buyer is US billionaire Sheldon Adelson who would continue to lease the house to US Ambassador to Israel David Friedman Adelson reportedly has a political motive for the purchase The aim is to make it more difficult for the Biden administration to reverse the outgoing Trump administration's decision to move the US Embassy in Israel for Tel Aviv to Jerusalem The property at 40 Galei Tachelet Street is a 1,000 square meter house on a 5,000 square meter lot is built on the eastern part of the lot with sloping gardens to the west and a sea view Published by Globes, Israel business news - en.globes.co.il - on December 30 © Copyright of Globes Publisher Itonut (1983) Ltd 250 houses are being offered for sale in Herzliya Pituah There were only 47 deals of NIS 5 million or more last year the fewest since at least 2010 and half the usual number in recent years and possibly also a change in buyers' tastes and trends the more modest luxury housing market for Israeli buyers that has been developing in eastern and central Herzliya in recent years remained stable A recent review published by the Ministry of Finance chief economist shows that the number of foreign residents buying housing in Israel has been on a downtrend for many years and has now reached 1,500 per year half of the number five years ago and a quarter of the number in the middle of the preceding decade The ones who are buying housing are doing it in Jerusalem and Tel Aviv "The market for housing in Herzliya Pituah is dead," says real estate appraiser Israel Yaakov "Activity here came to a standstill in 2017 after Kahlon raised the purchase tax and the Prohibition on Money Laundering Law went into effect Money laundering was involved in quite a few of the houses sold over the years." "Not many foreign residents are coming," says real estate agent Uri Tal it's usually for one of three reasons: immigration to Israel People don't buy vacation homes because they're selling their homes in London or Paris; they do it with their extra money Because of the crisis that began in 2008 and continued later people decided to keep their money close at hand "Israelis look more for bargains; they don't care so much about being close to the sea They can find much cheaper properties in Ramat Hasharon." Among the few deals this year in Herzliya Pituah this year are a 574-square meter house on Kidma Street sold for NIS 26.5 million; a 600-square meter house on a 760-meter lot on Levi Eshkol Street sold for NIS 27 million; and a 350-square meter house on Baruch Kamin Street sold for NIS 21 million "Many of the houses now being offered for sale in the western part of the city are old and built on 0.5-dunam (0.125-acre) lots They don't meet current planning and building standards; their prices reflect the prices of the land which are usually NIS 5-6 million for a half-dunam lot the buyers prefer to demolish the houses," says Yaakov Yaakov talks about developers who bought such lots but the depressed state of the market prevented it a developer bought a 600-square meter lot on Hanuriot Street for NIS 6 million "He planned to sell the house for NIS 18 million "It's a buyers' market; they set the price." the house remains for sale at a given price for years "Sometimes you see a seller suddenly willing to cut his price way down and that's when you learn that he's in a hot spot," Tal says there are quite a few houses empty or rented out whose owners have not lived in them for a long time The luxury in Herzliya Pituah is very different from what is happening in the eastern part of the city An independent and relatively modest luxury housing market has developed in recent years in the city center and on streets in the area around Interdisciplinary Center Herzliya New penthouses in these areas are being sold for NIS 4 million but a penthouse on Esther Raab Street sold for NIS 6.15 million and penthouses on Dori Street sold for NIS 5.8 million and NIS 5.5 million These are only a few examples of the high prices in deal in the city outside of Herzliya Pituah Published by Globes, Israel business news - en.globes.co.il - on March 18 The Tel Aviv District Planning and Building Commission in the Planning Administration has deposited two plans in the Herzliya Pituah industrial zone according to a policy document for the industrial zone approved by the Local Planning and Building Commission a three-storey building will become an 18-storey building and an eight-storey building will become a 30-storey building a three-storey building owned by Industrial Buildings located at the corner of Abba Eban Street and Arie Shenkar Street (the entry to the industrial zone) Existing construction rights for the site are for 20 storeys construction rights will be increased to 30 storeys with multiple uses: a commercial floor on the street façade The apartments are designed for individuals or couples The District Planning and Building Commission emphasized that permission to increase the rights from 20 to 30 storeys depended on removing restrictions by the Civil Aviation Authority and the Ministry of Defense The second plan concerns a lot at the corner of 16 Arie Shenkar Street and Hachoslim Street owned by Migdal Insurance and the Sirius investment company The lot contains two buildings of six and eight storeys Under the plan promoted by Migdal and Sirius an 18-storey building will be erected on the site with 175 apartments of up to 50 square meters each The plan also redefines the public space in the public square with commercial facades The plan relies on the existing parking lot on the site without adding any space for parking of private vehicles in order to encourage the use of public transportation and a future passageway to the Tel Aviv light rail Green Line the District Planning and Building Commission published an announcement that it was preparing an outline plan for the western Herzliya industrial zone based on a policy document approved by the Local Planning and Building Commission The purpose of this document was to examine various aspects of the dynamic needs of the industrial zone and propose a policy that would turn the industrial zone into an accessible The outline plan will include enhancement of construction rights while providing options of adding residential and hotel uses to the existing commercial and office uses The plan emphasizes the use of public transportation and gives priority to pedestrians and bicycle riders The Commission ruled that until the outline plan is approved detailed plans can be promoted according to the policy as long as they do not exceed the amount of space approved in the general deposited outline plan Published by Globes, Israel business news - en.globes.co.il - on March 31 Israeli real estate company Bayside Land Corp. Ltd. (Gav Yam) (TASE:BYSD1) announced on Friday that it has signed an agreement with Apple to lease an overall 44,000 square meters and 650 parking spaces in its O2 campus in Herzliya Pituah between Maskit Gaglaglei Haplada and Medinat Hayehudim Streets Bayside will build the office space alongside the existing building The seven year lease will begin from the completion of the building with an option to extend the lease for another 12 years The lease will yield Bayside annual net operating income (NOI) of NIS 49 million encompass 31,000 square meters above ground and 27,000 square meters underground upon which the new construction will be built The architect for both the existing campus and new construction is Avner Yashar Bayside is engaged in income producing property and plans Bayside's business and tech parks include MATAM in Haifa (in partnership with the Haifa Economic Development Company Published by Globes, Israel business news - en.globes.co.il - on November 21 The houses in Herzliya Pituah triumphed last year The most expensive residential deals in Israel in 2022 once again proved that with all due respect to Tel Aviv's luxury high-rise apartments there is no substitute for a large house and extensive garden There were three homes sold for more than NIS 100 million in Israel in 2022 - two of them were a stone's throw from each other in Herzliya Pituah and the other was in Tel Aviv Normally there are no more than two such real estate deals in Israel over NIS 100 million in any given year Although the full final figures are not yet available for 2022 from the data already released it is possible to draw a fairly accurate picture of what happened last year in Israel's high-end There were 348 deals over NIS 10 million that have been recorded on the Israel Tax Authority website for 2022 representing 0.3% of the overall homes purchased in Israel last year Even if more deals are added to the site in the coming weeks it will not significantly change the fact that there were 40% less such high-end deals over NIS 10 million in 2022 than there were in 2021 This is a bigger fall than in the overall market where there was a 25% decrease in the number of houses sold last year compared with 2021 over two thirds of the high-end housing deals were completed with only one third of the deals over NIS 10 million in the remaining eight months of last year It is important to distinguish between luxury and mega-luxury because a large part of the fall in deals last year was in the lower luxury range between NIS 10 million and NIS 40 million In this price range buyers are more dependent on the large mortgages that they take and are therefore more sensitive to interest rate hikes Buyers in the higher mega-luxury range are less concerned about interest rates and the number of deals in this price range only fell 20% last year if the buyers are indifferent to the economic situation in Israel because these high-end buyers are not completely indifferent No one likes to invest a huge fortune in real estate in a country in economic crisis the global situation is not so marvelous to say the least the war in Ukraine and the measures taken against Russian oligarchs make it very difficult for them to purchase homes in Israel since the outbreak of the Russia-Ukraine war they are almost not on the market All of this makes 2022 unique in this respect and despite the huge prices fetched by some properties last year which in recent years was predominantly the preserve of foreign residents the money in 2022 spent buying high-end properties was mostly Israeli If until a few years ago there was talk of an "invasion" of oligarchs and other foreign residents to Herzliya Pituah the market there has stayed firm despite their disappearance 26 deals of over NIS 10 million were recorded in 2022 The most expensive deal of 2022 was on the most expensive street in the country - Galei Techelet Street in Herzliya Pituah adjacent to cliffs overlooking the Mediterranean There is the former US Ambassador's residence bought in 2020 by the late Sheldon Adelson for NIS 230 million Teddy Sagi purchased the house next door to Adelson's house from businessman Zaki Rakib for NIS 145 million In a deal recorded on the final days of 2022 Israeli-Russian businessperson Boris Kuzinez sold his house at 66 Galei Techelet for NIS 173 million - a 1,000 square meter house on 1,300 square meters of land although it would appear that the person behind the deal is an Israeli businessperson The price puts this deal ahead of the one in which Roni and Ifat Irani the owners of the Factory 54 fashion company bought a three-floor 1,200 square meter penthouse in the Shalom Meir Tower in Tel Aviv for a reported NIS 145 million Back to Teddy Sagi and Galei Techelet Street where last year the Israeli billionaire completed the third most expensive deal in 2022 when he bought 56 Galei Techelet for NIS 100.8 million - a seven-room 870 square meter house on a 1,000 square meter - from businesswoman Arlene Strelitz Breaking the record price of NIS 200,000 per square meter In the fourth largest residential real estate deal last year Shari Arison sold her three-floor penthouse on the 24th-26th floors of the tower at 1 Hashoftim Street in Tel Aviv to French-Jewish businessman Marc Eisenberg for NIS 90 million At 55 Hayarkon Street in Tel Aviv is Israel's most expensive real estate project - David Promenade Residences a 28-floor luxury high-rise developed by Henry Taic who also owns the David Intercontinental Hotel In the tower deals have been completed at NIS 130-160,000 per square meters and last year a 438 square meter apartment on the 24th floor was sold for NIS 88 million And that has not been the most expensive apartment sold in the tower a 680 square meter apartment on the 20th floor was sold for NIS 108.6 million - reflecting a record price of more than NIS 200,000 per square meter Back in Herzliya Pituah on Ha'eshel Street owner of real estate tech company Compass and the former owner of Hapoel Jerusalem basketball team purchased a house on the street for NIS 180 million two other top-rated deals were carried out in this street a foreign resident purchased a 500 square meter house on a 1,000 square meter lot in Haeshel Street for NIS 87 million in the eighth highest deal a 700 square meters house on 2,200 square meter near the German Ambassador's residence was sold for NIS 62.8 million The seventh highest deal last year was in Tel Aviv's Neve Tzedek on Shabazi Street where a 750 square meter home was sold for NIS 80 million between the luxury of a huge penthouse in a high-rise in the heart of Tel Aviv and a large house and garden in Herzliya Pituah will persist in the market and not only because of the contrasting nature of the properties but mainly because of the geographical proximity between them There are places in the world where the distance between neighborhoods with luxury housing and the heart of the city prevents the existence of such competition whereas here the distance between the houses and penthouses is just a few kilometers What will the luxury real estate market look like in 2023 Economic problems are likely to weigh on the market or at least dampen the appetite in which buyers want first and foremost quiet calm and safe places to invest in real estate Published by Globes, Israel business news - en.globes.co.il - on February 14 co-owner of family real estate company Aviv is putting her home in Herzliya Pituah up for sale sources inform "Globes." The asking price is NIS 100 million with 450-500 square meters of built-up space the closest street to the sea in Herzliya Pituah It is believed to be the most expensive street in Israel the buyers are mainly interested in the land not the building; they usually wish to build a new house to meet their needs Luxury housing market sources in Herzliya Pituah assert that deals like this one are unique in their location and the price being sought and the sales process is therefore likely to take an especially long time before a buyer is found they predict that the eventual sale price will be in the NIS 80-90 million range The eventual buyer will live in a neighborhood of well-known members of the very top of Israel's business community including billionaire Teddy Sagi (who bought his home from Zaki Rakib in 2010 for NIS 135 million) and former Minister of the Environment Raphael Edery The US ambassador to Israel's home is on the same street Published by Globes [online], Israel Business News - www.globes-online.com - on July 11 Israeli developer and building contractor Rami Shbiro has agreed to buy land on Galei Tachelet Street in Herzliya Pituah from Israel Land Development Co Shbiro will pay NIS 211.5 million plus VAT for the prime seafront lot with a 40% payment on signing the agreement and the balance not later than 120 days after the signing of the agreement The 11 dunams (2.75 acres) site known as "Pat Yam," overlooking the sea has approval for the construction of a 144 room hotel in 19,200 square meters including commercial space The architect's drawings of the hotel show it to be in a 14-floor building The master plan for the hotel was approved in August 2021 Nimrodi's ILDC owns 67% of the land with the remaining rights held by unrelated parties The value of the land in ILDC's third quarter report for 2021 was listed as NIS 23 million so that the company is expected to report a capital gain of NIS 100-107 million for the first quarter of 2022 "The deal to sell the land in Herzliya Pituah is the work of many years in promoting and approving the master plan and realizing the value of the land Realizing the land will add major value to ILDC increase its equity and inject substantial cash into the company together with other strategies and financing that we have conducted will allow ILDC to execute its business and development plan both in terms of income producing property and developing housing in Israel and in Europe." Published by Globes, Israel business news - en.globes.co.il - on January 11 In the highest-value real estate deal in Israel last year a 1,000 square meter house on Galei Techelet Street in Herzliya Pituah was sold for NIS 173 million The buyer was apparently an Israeli businessperson The price puts this deal ahead of the one in which Roni and Ifat Irani bought a three-floor penthouse in the Shalom Meir Tower in Tel Aviv for a reported NIS 145 million According to data published on the Israel Tax Authority website there were three deals on Galei Techelet Street last year: a 375 square meter house at number eight on the street sold for NIS 11.7 million; another house The wide variations in price stem from the states of the properties The most expensive homes on the street are the higher even numbers The street has the most expensive home in Israel at number 40 which was bought by the late Sheldon Adelson in 2020 for NIS 230.35 million from the US government The unique 1,000 square meter house on a 5,000 square meter lot previously served as the residence of the US Ambassador to Israel Teddy Sagi himself already owns 46 Galei Techelet Street which he bought in 2010 from tech entrepreneur Zaki Rakib for NIS 145 million Rakib himself had bought the house from Austrian businessman Martin Schlaff for NIS 101.3 million in 2005 Sagi also bought 13 Galei Techelet Street - a 650 square meter house on a 1,500 square meter lot on the east side of the street for NIS 43.5 million from Michel Taman Besides the three transactions listed on the Israel Tax Authority website is trustee bought the house at 66 Galei Techelet Street from Israeli-Russian businessperson Boris Kuzinez for NIS 173 million but it would appear that the person behind the deal is an Israeli businessperson Kuzinez bought the house thirteen years ago for NIS 82 million from Michael Kaufman Published by Globes, Israel business news - en.globes.co.il - on February 12 and Israel Canada have purchased land in Herzliya Pituah for NIS 200 million The 10.3-dunam (2.575-acre) lot was sold by a group of Canadian heirs Each of the companies will have a 30% stake in the project and another partner will own 10% of the rights Located opposite Cinema City on the western side of the coastal road in the Herzliya Pituah industrial zone the land is zoned for an offices and commercial real estate project The construction rights in the land allow construction of a seven-storey project with 40,259 square meters of space above ground including 27,162 square meters of main space for business 3,032 square meters of main space for commerce in addition to rights to a 40,437 square meters underground parking lot The companies plan to build the project on the land the allocation of space for construction of a development center for Microsoft which is already operating in the Herzliya industrial zone and is looking for another site The companies are also considering construction of a project designated for sale The companies believe that they can complete the project in four years and that the total investment in it will total NIS 520 million Published by Globes [online], Israel business news - www.globes-online.com - on May 8 Israeli cyberattack company NSO Group is leaving its offices in the Apple building in Herzliya Pituah and has leased larger premises in Glilot which has developed cyberattack and spyware programs has become notorious worldwide over international revelations about its Pegasus spyware program NSO signed a 10 year lease for its offices in the Gav Yam (Bayside) building in Maskit Street in Herzliya Pituah Now as part of a reorganization and expansion the company decided to seek new offices and found them in the new offices being developed at Glilot by Big Shopping Centers (TASE: BIG) and Allied Group NSO Group will lease 7,500 square meters on the top four floors of the 44-floor office tower being built in Glilot The contract is for 10 years from the second half of 2025 with an option to extend for a further 10 years NSO currently has 400 employees in Israel and its new offices are larger than its current premises Estimates are that NSO will pay NIS 80-100 per square meter for the office in Glilot before interior design and finishing for an annual rent of NIS 8 million Finishing will add another 20% to the price A source familiar with the matter has told "Globes" that this is more or less the same rent that NSO is currently paying in Herzliya Pituah NSO became embroiled in the Pegasus affair when an international media consortium published details about how governments and organizations worldwide were exploiting the spyware's capabilities for alleged illegal practices Since then the company has tried to change direction and replaced its CEO and founder Shalev Hulio with a new CEO Yaron Shohat NSO fired 100 employees leaving it with 700 employees worldwide "The company underwent a crisis 18 months ago and has undergone a very serious reorganization and we were reduced to a few upper floors in the Apple building The company went through a very significant rehabilitation process and today it is in a different place from a business point of view we began to look for an office complex that would better suit the company's contemporary needs: the way we work has changed the size of the company has changed and so has the potential for future growth the employees are the most significant asset and we wanted to give them a more modern and upgraded environment without changing the situation for them too much When we saw and studied the project of Allied and Big It is a project that offers a lot of advantages to the company and its employees." For those who come from Tel Aviv access will be significantly improved They'll save that extra kilometer including the jams at the Hasira Interchange which will take 30 minutes off their morning commute." Published by Globes, Israel business news - en.globes.co.il - on January 3 Exclusive: US billionaire Sheldon Adelson is in advanced talks to buy the US Ambassador to Israel's residence in Herzliya Pituah north of Tel Aviv for about NIS 300 million sources inform "Globes." This would be the most ever paid for a home in Israel senior US officials in Israel have known that the deal is close to being signed The US administration is eager to fast track the deal so that it is completed before the US Presidential elections in November to emphasize that the transfer of the US Embassy from Tel Aviv to Jerusalem is a 'fait accompli.' In other words any new US administration would not be able to relocate a new US Ambassador to Israel back to live in Herzliya Pituah so that he could serve his country from the former US Embassy to Israel in Tel Aviv's Hayarkon Street The current US Ambassador to Israel David Friedman works and lives in the Jerusalem region and does not use the Herzliya property The US Ambassador's residence is located at 40 Galei Tachelet Street in Herzliya Pituah in a 1,000 square meter house on a 5,000 square meter lot Since "Globes" first reported in June that the house was for sale Sheldon Adelson was tipped as a potential buyer Very few people have the wealth to buy the home and Adelson is a major donor to both President Trump and Israel and has close connections to Israel Adelson was often seen on the lawns of the US Ambassador's home in Herzliya to celebrate American Independence Day on June 4 The US Embassy in Israel has previously confirmed that the Herzliya Pituah home is for sale "Following discussions about moving the Embassy to Jerusalem it was decided to sell the property in Herzliya Many of the Embassy's activities have been transferred to Jerusalem and the Ambassador has based himself in an official home in the region We expect that the sale of the property will take place in the coming months Galei Tachelet Street in Herzliya Pituah is considered Israel's most expensive residential street with some of the country's wealthiest individuals The street is in the western part of the town and runs along a cliff overlooking the sea Russian-Israeli billionaire Roman Abramovich paid the most for an Israeli home to date when he bought a house several streets away in Herzliya Pituah from British hedge fund manager Alan Howard for NIS 226 million.   No comment has been received from the Adelson family "The sale of the Chief of Mission residence in Herzliya has nopt yet been finalized The State Department does not comment on ongoing real estate proceedings." Published by Globes, Israel business news - en.globes.co.il - on August 31 2020 © Copyright of Globes Publisher Itonut (1983) Ltd designed by Israeli architect Pitsou Kedem has won international fame by featuring in the third series of Nextflix's "World's Most Extraordinary Homes." The series hosts Caroline Quentin and Piers Taylor were astonished when they visited the home by its size as well as its openness and subtle interface with the outside They both identified with the owners who described the house as an "all embracing home." Pitsou Kedem is brand with a very distinctive architectural fingerprint His buildings are bright and light with a sophisticated control of the materials and structure which houses British-born businessman Steve his Israeli wife Ossie and their six children The three-floor home rises two floors above the street and appears to be white and opaque which extend along the complete first floor are covered by a trellis The back of the house on the ground floor with the salon and areas to entertain guests is almost completely open to the garden with bedrooms on the first floor and games and TV rooms Pitsou Kedem told "Globes" "I do a lot of residential buildings and even residents but individual houses are different They are a type of portrait that I sketch with my paintbrush of those who commissioned the work - the family that lives there where they get together and where they look for privacy How the machinery of life works for them." I try to understand what sort of appearance they are seeking In the sense of standing out or not standing out The first thing that the person commissioning the work tells me is that they are looking for something that will be exceptional and unique and not generic." Kedem recounts that in his initial conversation with Steve I didn't really understand what he was talking about Sometimes by his pool and sometimes by the fireplace So in practice I made him meditative spaces Places where the light penetrates and there is a special experience of tranquility within the house." it is rare to find a garden that has more width than length The façade with the street is long and significant and I understood that there would be a terribly large mass of the building facing the street So I tried to lighten the house with a diagonal angle to the roof Genuine modernist screen windows mean that at night when they are lit and roof seems like a cloud The angles protruding outwards give the sense of floating." We took the diagonal element on the roof and repeated it in other places in the lighting and in elements of the furnishing Even the back yard is dug out at the same angle Kedem adds that he likes to create 'layers of filtration.' "We begin with a very opaque mass and perforate it with modern openings that allow less direct sunlight but also privacy including air passages When you open the large glass windows you feel that the yard is inside the house To blur the borders between inside and outside One of the ways in which Kedem connects the inside to the outside is with 'intermediary spaces' that intercede "The house focuses on meeting in the middle The central point is where the salon connects to the kitchen It's not fully outside and not fully inside It is a space that is very suited to the Israeli climate Within the spaces is very minimalist with monochrome colors When the leaves of the trees move in the wind Published by Globes, Israel business news - en.globes.co.il - on August 3 Exclusive: Just before the coronavirus crisis began Israel's most expensive-ever residential real estate sale was completed a source close to the deal has told "Globes." Russian-Israeli billionaire Roman Abramovich has bought a property in Herzliya Pituah for NIS 226 million ($64.5 million) The property is bounded by Hanassi Ben Zvi Street Abramovich has bought land covering 2.375 acres The main part of the property is a house formerly belonging to British hedge fund manager Alan Howard cofounder of Brevan Howard Asset Management He bought the home in 2006 from Lenny Recanati for $9 million Howard spent enormously in enhancing the property expanding the lot from 6,500 square meters to 9,500 square meters and constructing two impressive buildings designed by architect Orly Shrem The smaller of the buildings is a 1,000 square meter guest house at 93 Hanassi Ben Zvi Street and the larger is a 2,000 square meter house next door at 95 Hanassi Ben Zvi Street and swimming pool on a hydraulic platform that can be converted into a guest area for events The house's basement includes work stations for 10 computers and there is also an entrance to the house from Shlomo Hamelekh Street The property was for sale for two years for $100 million but there were no takers Abramovich rented the property with an option to buy At the end of January the purchase deal for the property was signed Although it does not yet appear on the Israel Tax Authority website the Israel Land Registry does have a warning note in its forms that the four lots comprising the property are to be in Abramovich's name This is the third property that Abramovich has purchased in Israel in recent years he bought the Versano boutique hotel at 11 Shabazi Street in Tel Aviv's Neve Tzedek quarter for NIS 104 million The property includes both the boutique hotel Abramovich bought through a company that he owns The five floor office building is encompasses 6,500 square meters and 120 parking spaces and there are building rights for an additional 12,000 square meters The building can be rezoned for hotel and residential purposes and according to "Calcalist," Abramovich paid NIS 200 million for it Abramovich joins a select club of people who have paid over NIS 100 million for a home in Israel Austrian businessman Martin Schlaff sold a house on Galei Takhelet Street in Herzliya Pituah to high-tech businessman Zaki Rakib for over NIS 100 million which he sold in 2010 to Teddy Sagi for NIS 146 million Russian oligarch Valery Kogan bought five adjoining penthouse apartments in the Sea One project on Tel Aviv seafront and merged them into a 1,100 square meter apartment for NIS 110 million which he subsequently sold to Canadian-Israeli billionaire Sylvan Adams Kogan also bought a collection of adjacent lots for an unknown amount in Caesarea Published by Globes, Israel business news - en.globes.co.il - on June 1 Exclusive: Israeli billionaire Teddy Sagi has recently completed the purchase of a house at 56 Galei Techelet Street in Herzliya Pituah for NIS 100.8 million seven room house is on a 1,000 square meter lot with a swimming pool The land registry says that a NIS 50 million mortgage was taken from Bank Leumi to purchase the house Galei Techelet Street has the most expensive homes in Herzliya and the entire country The street runs along cliffs overlooking the sea making the even-numbered homes (35 out of 60) on the coastal-western side of the street especially expensive fetch double the price of the homes on the eastern side Sagi himself already owns 46 Galei Techelet Street Sagi also bought 13 Galei Techelet - a 650 square meter house on a 1,500 square meter lot on the eastern side of the street for NIS 43.5 million from Michel Taman Published by Globes, Israel business news - en.globes.co.il - on February 5 US billionaire Sheldon Adelson completed the purchase of the US Ambassador's residence in Herzliya Pituah last week sources inform "Globes." Adelson is paying over NIS 250 million for the property making it the most expensive ever home bought in Israel and he will pay NIS 20 million in purchase tax on the deal A spokesperson for Sheldon Adelson declined to comment on the report After "Globes" revealed in August that Adelson was about to buy the house the US Embassy in Israel spokesperson said earlier this month "Following the announcement of the move of the US Embassy to Jerusalem the Department undertook a review of both existing and available diplomatic property in Israel to determine the best alignment to support the US Mission." planning for the sale of the former US Ambassador's residence in Tel Aviv began in 2019 with marketing of the property beginning in January of 2020 The Department of State has recently selected the buyer for the sale of the former Chief of Mission Residence in Herzliya Israel The buyer was selected solely on the basis of having submitted the highest and best offer The selected buyer and the unsuccessful bidders have been notified The Embassy will vacate the Chief of Mission Residence in spring of 2021." The US Ambassador's residence is at 40 Galei Tachelet St. which contains the country's most expensive homes with large gardens above cliffs overlooking the sea Among Adelson's neighbors are Israeli billionaire Teddy Sagi who bought a house in Galei Tachelet Street for NIS 146 million in 2010 and Russian-Israeli businessman Roman Abramovich who bought a house several streets away earlier this year from British hedge fund manager Alan Howard for NIS 226 million - the previous highest amount paid for a home in Israel Published by Globes, Israel business news - en.globes.co.il - on September 21 Last week "Globes" revealed that the US Ambassador to Israel's residence at 40 Galei Tachelet Street in Herzliya Pituah was up for sale after the embassy had moved from Tel Aviv to Jerusalem Sources informed "Globes" that the US Embassy was asking NIS 300 million ($87 million) for the property in the western part of Galei Tachelet Street was built in the early 1960s with additions from the 1970s and 1980s The house itself is 1,000 square meters in size on just over 5,000 square meters of land the property is neglected and any potential buyer will likely demolish the house and rebuild something new The location is one of the most exclusive and coveted in all Israel The street itself is characterized by very high quality housing The homes on the west side of the street nearest the sea are on a cliff with a clear view of the Mediterranean The best way to assess the price is to look at similar deals for nearby properties on the western side of Galei Tachelet Street According to the Israel Tax Authority website most of the purchases of nearby property were some time ago Last month an empty 1,094 square meter lot at 54 Galei Tachelet Street was sold for NIS 72 million while in 2015 a 1,025 square meter empty lot at 52 Galei Tachelet was sold for NIS 67 million there were two deals at 60 and 62 Galei Tachelet Street each with a house for demolition with 1,018 square meters and 1,028 square meters respectively sold for NIS 66.9 and NIS 67.9 million respectively a 1,277 square meter lot with a house for demolition at 66 Galei Tachelet was sold for NIS NIS 82 million the price of a square meter of land on the western side of Galei Tachelet Street in Herzliya Pituah is around NIS 65,000 Taking into account that the US Ambassador's residence is on 3,000 square meters of land with an additional 2,000 square meters of land on which there are no building rights then the value of the property should be around NIS 250 million ($72.5 million) The author is a real estate appraiser specializing in financial support for real estate ventures preparing reports and real estate taxation Published by Globes, Israel business news - en.globes.co.il - on July 6 A group of developers consisting of Itzik Tshuva and Multiland (controlled by Moshe Kattan) will buy land in Herzliya Pituah for NIS 380 million which is zoned for construction of a business park was sold in the framework of a liquidation proceeding for a partnership between the landowners following a pricing procedure earlier today won by the purchasers The 7.3-dunam (1.825-acre) site is close to the coastal road opposite a Paz filling station Construction rights in the land consist of 46,000 square meters of office and commercial space in a building of up to 11 floors and an underground parking lot The land is shared by over 100 private landowners and large real estate partnerships together with a number of private landowners,which aggregately held 25% of the land ownership petitioned for liquidation of the partnership with the other owners This group also participated in the pricing procedure but its bid was lower than the winning bid "Globes" revealed last February that Tel Aviv Magistrates Court Judge Carmela Haft had granted the petition and had appointed Adv Since the winning group already reached agreement with private owners holding 45% of the land rights before the pricing it will have to pay NIS 210 million to the owners of the other 55% The winning group and the private landowners were represented by Adv All of the groups that took part in the proceeding are worthy of praise which in our opinion gives the holders of right a great deal of real value Published by Globes, Israel business news - en.globes.co.il - on July 17 Bank Hapoalim (TASE: POLI) is offering a luxury home on the most expensive street in Israel for sale A receiver of behalf of the bank is likely to publish an advertisement calling for bids to buy the luxury home at 13 Galei Tchelet Street in Herzliya Pituah owned by Belgian businessperson Michel Pierre Salomon Teman The house is opposite the residence of the US ambassador to Israel near the home of businessperson Teddy Sagi Real estate specialists estimate the house's worth at NIS 50 million The split-level house is built on two lots with a combined area of 1.5 dunam (0.375 acres) which has 500 square meters of built-up space while the second lot (0.5 dunam - 0.125 acres) contains a swimming pool The lot on which the house is built faces Galei Tchelet Street while the lot containing the swimming pool faces Hama'apilim Street and is more elevated than the plot containing the house Teman got into economic difficulties and stopped payments on the loan he took from Bank Hapoalim Although he signed a debt settlement with the bank in January he failed to make even the first payment under the settlement Bank Hapoalim invoked the clause in the agreement stating that its bailiff proceedings could be renewed Law Enforcement and Collection System Authority Registrar Keren Bakshi accepted Bank Hapoalim's request and appointed Adv law firm as receiver for the purpose of selling the house Teman appealed the appointment of a receiver to the Tel Aviv Magistrates Court where Judge Moshe Sobel dismissed the appeal Teman is a Jewish businessperson residing in Brussels argued that the loan was taken a decade ago for the purpose of buying and building another house in Herzliya Pituah which led to prolonged legal proceedings and liquidity problems The appeal also stated that more rigorous regulation in Israel made it difficult for Teman to transfer money from Belgium to Israel in order to repay the loan Teman said that his original plan was to use rent from renting out the new house to repay the loan but was unable to do so because construction on the new house had not yet been completed. Published by Globes [online], Israel business news - www.globes-online.com - on August 13 Microsoft has completed a lease for its new campus in Herzliya Pituah. The company will rent an entire building currently under construction from Israel Canada ITR) Ltd. (TASE:ISCN), Tidhar Group The three owners bought the land in May 2016 for NIS 200 million A report to the Tel Aviv Stock Exchange (TASE) today by Israel Canada will have 44,000 square meters in gross space on 10 floors Microsoft will rent the building shell condition and adjust it to finishing level by itself Microsoft is also expected to move its office activity currently spread among several different buildings in Herzliya Pituah Israel Canada and Acro also the Bank Leumi (TASE: LUMI) building at the intersection of Herzl Boulevard and Yehuda Halevi Streets in Tel Aviv in June for NIS 277 million Israel Canada today reported that together with its partner it would lease the building to Bank Leumi for two years at NIS 500,000 a month the two companies are also promoting a new plan for the lot under Plan TA/5000 for construction of a 40-storey tower with 30,000 square meters of office and residential space the tower will have 30 floors of offices and 10 floors of residences Published by Globes [online], Israel Business News - www.globes-online.com - on December 3 The 10-floor building in Herzliya Pituah that Microsoft is vacating will have 15 more floors added on top it, sources inform "Globes." The building in question is part of a business site owned by Bayside Land Corp. Ltd.(Gav Yam) (TASE: BYSD1) that has six buildings of 10 storeys each The Tel Aviv District Planning and Building Commission in the Planning Administration yesterday deposited the plan submitted by Bayside Land for expanding one of the buildings 17,700 square meters of business space and 940 square meters of commercial space will be added to the building along its facade on Shenkar Street The plan also adds 1,500 square meters of public space to be registered in the name of the Herzliya municipality and used for health The plan also includes two passages for employees at the site and visitors from the bus stop on Highway 2 to the site and another passage connecting Shenkar Street with the site Part of the shaded passage will have commercial businesses Microsoft is expected to move from the building to the new building being constructed for the company by Acro Real Estate, Tidhar Group, and Israel Canada ITR) Ltd. (TASE:ISCN) on a lot near Herzliya Pituah Bayside is expected to look for a large tenant to rent the enlarged tower after Microsoft leaves it The District Planning and Building Commission noted that the plan which does not add a single parking space to the existing facilities encourages the use of public transportation and a reduction in the use of private vehicles to reach the site by providing continuous passage for pedestrians from the bus stop on Highway 2 and the bus stops on Shenkar Street The plan also encourages the use of bicycles through both a connection with the Ofnei-Dan national bicycle network and a connection with the local bicycle network planned in the entire business zone Showers and storage for bicycle riders are also planned Danny Ohana from the Moshe Tzur Architects and Town Planners firm drew up the plan and the urban building plan was written by Birkat Klimshtein Levy from the Hoshen Project Management firm The building is not the first for which a plan for 25 storeys has been deposited. The first such plan to be deposited for objections was Beit Amron by Jerusalem Economy Ltd. (TASE:ECJM) (JEC) which is planned for 25 storeys and multiple uses The Herzliya municipality wants to put new life into its industrial zone by adding uses other than offices Tel Aviv District Planning Commission chairperson Daniela Posek said "The plan will upgrade the Bayside site and turn it into an advanced industrial zone with broad public spaces for the benefit of employees and visitors to the site in addition to access to public transportation." we planned an innovative project with a horizontal conception that would properly present the Herzliya Pituah industrial zone on the coastal road facade," architect Moshe Tzur said Published by Globes [online], Israel Business News - www.globes-online.com - on January 24 Israeli billionaire Teddy Sagi has bought two penthouse apartments in the Ritz-Carlton hotel in Herzliya for NIS 32 million sources inform "Globes." The apartments will be used to host guests of Teddy Sagi who visit Israel to do business with his group of companies which focus on the Internet and real estate The Ritz-Carlton hotel in Herzliya overlooking the marina was developed by Tidhar Group and offers furnished apartments for purchase from the seventh to 12 floors The project targets wealthy overseas businesspeople looking for a vacation home in Israel and seeking a luxury lifestyle The first of the two apartments purchased by Sagi is 110 square meters in size with two bedrooms and a 40 square meter veranda The second is 104 square meters with one bedroom Both apartments are on the 12th floor of the hotel Under the terms of the agreement with the Ritz-Carlton the purchasers can use apartments that they buy for up to 180 days per year while in the other half of the year the hotel can rent out the room to paying guests The buyer can enjoy a rental payment of 2%-5% for this period depending on how many days it used The hotel charges $2,500-$4,500 per night for these suites The two Herzliya apartments expand Sagi's real estate portfolio in Israel He already owns a triplex on floors 44-46 of the W Tower in Tel Aviv's Park Tzameret which he bought from real estate developer Moshe Peterburg for NIS 19 million Five years ago he bought former Prime Minister Ehud Barak's apartment in Tel Aviv's Akirov Towers for NIS 26.5 million; he now owns the entire 31st floor he bought the Herzliya Pituah house of businessman Zaki Rakib on Galei Tachelet Street for NIS 145 million Published by Globes [online], Israel business news - www.globes-online.com - on April 20 in israel, pitsou kedem architects has completed a residence that features seven ‘states of passage’ that become apparent as one moves through the home a beachfront district near the city of tel aviv the dwelling is defined by these different spaces inhabitants encounter as they make their way from the main gate to the back yard all images by amit geron set back from the sidewalk, pitsou kedem has ensured privacy by elevating ‘N2 house’ above street level the first ‘passage’ is the area beneath a lattice that floats above the entrance to the home a massive concrete wall hangs above a dark reflection pool the second stage is a private entrance hall that reveals the abode from behind a glazed surface the first ‘passage’ is the area beneath a lattice that floats above the home’s entrance from the front door there are two hallways: one which crosses through the house and another that leads to the guest bathroom this forms the dwelling’s third transitional space the fourth phase involves moving along the main hallway a triple-height internal patio houses both a staircase and an area of seating the fifth stage comprises the kitchen and a family room the final passages are found at the end of the hallway where the living room spills out onto the back yard the lattice wraps around the façade the permeable cladding casts intricate shadows across the project’s various surfaces the back yard includes a secluded L-shaped swimming pool the permeable cladding casts intricate shadows across the home’s walls and surfaces the kitchen includes a selection of decorative fornasetti plates the living room spills out onto the external terrace the stairwell’s atrium viewed from above at night, the residence takes on an entirely different appearance areas of vegetation are planted in front of the property ‘N2 house’ is located in herzliya pituah, a beachfront district near tel aviv initial design: irene goldberg, pitsou kedemin charge architect: raz melamedproject managers: ron klajman & gal cohenlighting design: orly avron alkabesstyling for photography: eti buskila photography: amit geron happening now! partnering with antonio citterio, AXOR presents three bathroom concepts that are not merely places of function, but destinations in themselves — sanctuaries of style, context, and personal expression. restaurants and shops continue to open up in the region more and more visitors are flocking to Herzliya We give you our top picks to experience Herzliya as a food lover’s paradise import PrebidBidService from "/v1/js/PrebidBidService.js"; import AmazonBidService from "/v1/js/AmazonBidService.js"; window.addEventListener('intersecting',async (e) => { const element = document.querySelector('[data-id="in_article_2"]'); const slot = element.getAttribute('id'); if(e.detail.slotName !== slot) { return; } let promises = []; if(window.canRunPrebid) { const prebidService = new PrebidBidService(); promises.push(prebidService.requestPrebidBids(null [slot])); } if(window.canRunAmazon) { const amazonService = new AmazonBidService(); promises.push(amazonService.fetchBids(null [slot])); } if(promises?.length) { await Promise.all(promises).then(() => { googletag.pubads().refresh([window.addSlot[slot]]); }); } else { googletag.pubads().refresh([window.addSlot[slot]]); } }); Benedict Restaurant Sign up to our newsletter to save up to $800 on our unique trips See privacy policy © Tom Newby/Flickr Given Herzliya’s prime real estate which runs parallel to the sea, it’s no wonder its home to so many incredible seafood restaurants. Located right at the Marina, Derby Bar is seafood done right, serving up only the freshest seafood with an Israeli spin. The best part of Derby Bar happens even before the meal begins Each table is offered a hefty portion of salads and appetizers And if you aren’t already full from the initial appetizer spread import PrebidBidService from "/v1/js/PrebidBidService.js"; import AmazonBidService from "/v1/js/AmazonBidService.js"; window.addEventListener('intersecting',async (e) => { const element = document.querySelector('[data-id="in_article_3"]'); const slot = element.getAttribute('id'); if(e.detail.slotName !== slot) { return; } let promises = []; if(window.canRunPrebid) { const prebidService = new PrebidBidService(); promises.push(prebidService.requestPrebidBids(null [slot])); } if(promises?.length) { await Promise.all(promises).then(() => { googletag.pubads().refresh([window.addSlot[slot]]); }); } else { googletag.pubads().refresh([window.addSlot[slot]]); } }); Max Brenner Candy Store © Wikicommons Sebastian is a neighborhood classic in the heart of Herzliya Pituach Its décor lends to a very homey feel as soon as you step through their door This café/brasserie suits a variety of needs depending on the time of day Sebastian’s varied menu and polished design appeal to a variety of different tastes The best part of Sebastian is its wraparound bar situated in the middle of the restaurant you are immediately greeted with smiles by other patrons and staff members who are eager to welcome you to their ‘hood’ import PrebidBidService from "/v1/js/PrebidBidService.js"; import AmazonBidService from "/v1/js/AmazonBidService.js"; window.addEventListener('intersecting',async (e) => { const element = document.querySelector('[data-id="in_article_4"]'); const slot = element.getAttribute('id'); if(e.detail.slotName !== slot) { return; } let promises = []; if(window.canRunPrebid) { const prebidService = new PrebidBidService(); promises.push(prebidService.requestPrebidBids(null [slot])); } if(promises?.length) { await Promise.all(promises).then(() => { googletag.pubads().refresh([window.addSlot[slot]]); }); } else { googletag.pubads().refresh([window.addSlot[slot]]); } }); Tapeo Bar Guides & Tips The Best Places to Travel in October See & Do 10 of the Oldest Cities in the World See & Do 20 Must-Visit Attractions in Israel See & Do The Must-Visit Kibbutzim In Israel History The Oldest Religions in the World Guides & Tips The Best Places to Travel in November Guides & Tips 13 Hilarious Arabic Swear Words and Phrases See & Do The Best Seaside Towns to Visit in Israel See & Do The Best Places for an Asian Spring Break Guides & Tips 11 Beautiful Words that Will Make You Fall in Love with the Tibetan Language Guides & Tips The 15 Best Destinations in Southeast Asia Guides & Tips The 11 Most Stunning Indian Ocean Islands US: +1 (678) 967 4965 | UK: +44 (0)1630 35000 tripssupport@theculturetrip.com © Copyright 2025 The Culture Trip Ltd 2020Get email notification for articles from Sivan Klingbail FollowJul 16 2020The scene is Shenkar Street in Herzliya Pituah a few days before the new coronavirus restrictions went into force The parking lot at the far end of the street still had a lot of empty spaces You could easily find a spot right on the street 2019Pity the poor owners of homes in Israel worth 20 million shekels ($5.6 million) Those grandiose properties with Mediterranean seaside views once in demand mainly by foreign investors It’s not just property owners. The industry that once served the top end of the Israeli real estate market – builders relators and interior designers – has seen business evaporate demand for luxury housing at more modest levels These properties are mainly bought by wealthy Israelis who are looking for a place to live rather than a second home or a tax shelter “It’s then hardest of all to sell grandiose properties by the sea, with gold faucets and imported tiles costing hundreds of thousands of shekels,” said Shklarsh. “Properties along the shore, like Herzliya Pituah are waiting for foreign investors who have all but disappeared.” Israel’s market for luxury housing went from boom to bust mainly because of the government. Finance Minister Moshe Kahlon eliminated the tax exemption for foreign residents buying real estate Israel and foreign governments also began cracking down on tax evasion and money laundering which deterred many well-heeled foreigners from buying property while a plethora of high-end Tel Aviv apartment towers decimated the market for second-hand homes “In negotiations I’ve had with the few people who’ve been interested no one has been ready to give me more than 8 million shekels,” said one real estate agent “Any foreign investors willing to pay the asking price see how [the authorities] get involved and demand to know where each shekel is coming from and were scared off.” In cases where the sellers need the cash quickly homes in Herzliya Pitauch and Kfar Shmaryahu fell to from 35 million shekels to 25 million found that the number of home sales in Herzliya Pituah fell from 100 in 2015 to 50 last year Almost none of last year’s sales amounted to more than 20 million shekels about 250 luxury properties are on the market awaiting buyers “Wealthy foreign residents almost never come except if it’s a vacation property by the beach or well-established investors with a Jewish connection,” said Yaacov who owns the Herzliya Pituah and Kfar Shmaryahu franchises for the nationwide Anglo-Saxon real estate chain said that these days its easier to sell a penthouse or luxury apartment than a villa or a lot in a luxury neighborhood “In the last few years we’ve seen more and more people looking to downsize because their children have left the nest They’re ready to give up their big villa for an apartment in Tel Aviv which is easier and more convenient,” he said “But these downsizers are often frustrated because of the price differentials In Kfar Shmaryahu and Herzliya Pituah the lower priced properties go for 5 million to 10 million shekels which is about the same for a new apartment built to a high standard in a Tel Aviv residential tower.” Tamir Minz of the MMM Real Estate Group said French investors were big buyers of seaside homes but exited the market about four years ago “In their places we hope and expect to see wealthy Brits in the post-Brexit era,” he said many of these kinds of houses are standing empty.” Yaacov said most of the sales today are in the range of 5 million to 6 million shekels – older homes on two-dunam (half acre) lots that will require another 1 million shekels in renovations The buyers aren’t the foreign oligarchs of the past but wealthy Israelis who typically take a small mortgage to finance the deal Another type of buyer is a senior manager of a foreign company working in Israel has had a 15-million-shekel house on the market for more than a year without receiving a single offer home theater and huge basement situated on a 530-square-meter lot Another home on a 300-square-meter lot was put on sale for 5.9 million shekels and sold only a year later for 4.85 million “The number of sales in [Raaana] has been in decline since 2014 and many properties have been on the market for months even years,” said Omri Shpagat of Keller Williams “Some prices have fallen sharply and others have been pulled off the market after they didn’t find a buyer at their asking price It’s the cheaper homes that have enjoyed stable or even somewhat higher prices.” has been more Israeli and less foreign over the years and has been felt less of a downturn Caesarea and Herzliya Pituah were going up and up Its residents are looking for quality of life,” he added “In Herzliya Pituah and Kfar Shmaryahu they put money into gold faucets and marble Most Savyon residents aren’t interested in what kind of return they’ll get on their property.” “There are almost no land sales these day and that has created expectations for higher prices,” said Shklarsh “Savyon is experiencing an almost opposite trend from what’s happening in the luxury market Minz describe the situation in Kfar Shmaryahu and nearby Rishpon in similar terms thanks to the market being mostly Israelis buying and selling These towns are more like communities than enclaves of the very rich with youth groups and school enrichment programs there are those who have apartments in the towers for weekends but most of the residents of Savyon see the community as their social and cultural anchor,” he said Roman Abramovich | File photo: Reuters/Olivia Harris Russian-Israeli billionaire Roman Abramovich has recently closed escrow on the most expensive residential deal in the Israeli real-estate industry's history shelling out NIS 226 million ($64.5 million) for a home in Herzliya Pituach an affluent beachfront neighborhood in the central Israeli city of Herzliya Abramovich, who received Israeli citizenship in 2018 Follow Israel Hayom on Facebook and Twitter  the home was previously owned by British hedge fund manager Alan Howard who had bought the property from Israeli businessman and philanthropist Lenny Recanati in 2006 The property was placed on the market in 2018 with an asking price of $100 million but there were no takers Abramovich leased the home last year with an option to buy The deal was reportedly completed just weeks before the coronavirus pandemic crippled economic activity Abramovich joins an exclusive club of people who have paid over NIS 100 million for a home in Israel These include high tech businessman Zaki Rakib who bought a 100 million shekel home in Tel Aviv who bought Rakib's home several years later for NIS 146 million who shelled out NIS 110 million to turn five adjoining penthouse apartments in Tel Aviv into one apartment Subscribe to Israel Hayom's daily newsletter and never miss our top stories Following the missle hit on Ben-Gurion Airport Air India canceled its flight to Israel after circling in the air while rocket sirens sounded teeming with ever-changing trends and innovations one product has managed to outlast them all for.. Analysis  Archaeology Blogpost Business & Finance Culture Exclusive Explainer Environment Features Health In Brief Jewish World Judea and Samaria Lifestyle Cyber & Internet Sports Diplomacy  Iran & The Gulf Gaza Strip Politics Shopping Terms of use Privacy Policy Submissions Contact Us The first issue of Israel Hayom appeared on July 30 Israel Hayom was founded on the belief that the Israeli public deserves better more balanced and more accurate journalism [contact-form-7 id=”508379″ html_id=”isrh_form_Newsletter_en” title=”newsletter_subscribe”] Sold Ambassador's Home in Israel for $67 Million which appears to be the most expensive single residence ever sold in Israel was allegedly bought by Netanyahu and Trump ally Sheldon Adelson 2020The United States sold the ambassador’s residence in Israel for more than $67 million in July according to an official Israeli record of the sale that shines new light on a transaction that has been shrouded in secrecy The State Department confirmed the sale in September but refused to identify the buyer or disclose the sale price of the sprawling beachfront compound in the upscale Tel Aviv suburb of Herzliya It has also declined to say how much the U.S government is now paying to lease the property The Israeli business newspaper Globes has identified the buyer as the U.S. casino magnate Sheldon Adelson a strong supporter of both President Donald Trump and Israeli Prime Minister Benjamin Netanyahu A representative of Adelson said the billionaire had no comment it appears to be the most expensive single residence ever sold in Israel The sale helped to cement Trump's controversial decision to relocate the U.S. Embassy from Tel Aviv to contested Jerusalem in 2018 and to recognize Jerusalem as Israel's capital it would make it harder for future presidents to reverse the decision to move the embassy President-elect Joe Biden has criticized the decision to move the embassy to Jerusalem but says he will not reverse it Israel seized east Jerusalem in the 1967 war and later annexed it in a move not recognized internationally The Palestinians want east Jerusalem to be the capital of their future state Nearly all countries maintain their embassies in Tel Aviv because of the dispute over east Jerusalem Records posted by Israel's tax authority on Monday show that the sale of the official residence was concluded on July 31 several weeks before the State Department acknowledged it They list the sale price as 230,353,536 Israeli shekels That's $67,592,000 according to that day's official exchange rate the sale price listed by the tax authority almost always matches the actual sale price when a property is gifted to someone — the two may differ Embassy said in a statement that “it made sense” to sell the residency and said it expected the sale “to move ahead in the coming months.” Embassy said “the buyer was selected solely on the basis of having submitted the highest and best offer.” It refused to say how many bids were made or identify any of the potential buyers Under the deal, Ambassador David Friedman a driving force in the move of the embassy will continue living at the estate until the spring of 2021 Congressional aides told The Associated Press in September that lawmakers in the House and Senate were looking into whether the sale of the residence complied with regulations The State Department has not said how much rent is being charged to U.S When asked about the newly published record of the sale Embassy referred to its past statements and did not provide further comment The Israeli real-estate office that brokered the deal referred all questions to the U.S 2020Get email notification for articles from Chaim Levinson FollowAug 25 expensive areas in Israel: the sandstone cliff along the sea in Herzliya Pituah the grand homes of wealthy Israelis and foreigners and close to the cliff is an area meant to be open to the public But anyone trying to hike there encounters barriers Four of the wealthy people who live nearby have blocked off the cliff with the knowledge of the Herzliya Municipality 2020Get email notification for articles from Chaim Levinson FollowSep 9 ambassador’s former residence in Herzliya Pituah raises an issue of public concern that the city has been slow to address: What happens to the two dunams (half acre) of a nature reserve that were handed over specifically for the embassy’s use now that the house is passing into private hands Globes reports the seller as British hedge fund manager Alan Howard who bought the house for around £7 million in 2006 Additions include a swimming pool on a hydraulic platform capable of being converted into guest accommodation It had been on sale priced at £80 million for two years before the deal which was preceded by Abramovich renting the property The Israel Land Registry now has a warning note in its forms that the four lots comprising the property are to be in his name If confirmed it will be Abramovich’s third big real estate deal in Israel following his 2015 purchase of a house and boutique hotel in Tel Aviv’s trendy Neve Tzedek quarter and a seafront Tel Aviv office building purchased last year Thank you for helping to make Jewish News the leading source of news and opinion for the UK Jewish community Today we're asking for your invaluable help to continue putting our community first in everything we do For as little as £5 a month you can help sustain the vital work we do in celebrating and standing up for Jewish life in Britain Jewish News holds our community together and keeps us connected it’s where people turn to feel part of something bigger It also proudly shows the rest of Britain the vibrancy and rich culture of modern Jewish life You can make a quick and easy one-off or monthly contribution of £5 £20 or any other sum you’re comfortable with 100% of your donation will help us continue celebrating our community Being a community platform means so much more than producing a newspaper and website One of 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