Tel Aviv building sold for NIS 21 million
Buyers group purchases three-floor Bauhas building on Dizegoff Street, stretching over plot of 560 square meters
A buyers group comprised of 14 businessmen has purchased from foreign residents a Bauhas-style building on Tel Aviv's Dizengoff Street for NIS 21 million (about $5.6 million).
The building, located near Frishman Street, stretches over a plot of 560 square meters (6,028 square feet) and includes a ground floor and two additional floors measuring 870 square meters (9,364.5 square feet) in size.
After the preservation and reconstruction works, the building will get three more floors and its built area will total 1,540 square meters (16,576 square feet).
According to the plan, the building will eventually include 24 apartments, each measuring 55 square meters (592 square feet) in size, which will be offered for sale for approximately NIS 1.2 million ($320,892).
The building will also have two penthouses measuring 110 square meters (1,184 square feet) each, at an estimated cost of NIS 3.08 million ($823,560), which reflects of price of NIS 28,000 ($7,487) per square meter.
The building is being planned by Architect Nitza Szmuk, who specializes in structures for preservation in the city. The project is expected to be completed with 22 months.
The buyers group is represented by Attorney Ehud Porat, who specializes in organizing buyers groups for realty purposes.
Bauhaus building in Tel Aviv (illustration)
בחסות עמותת התיירות תל אביב יפו
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