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March 19, 2012 2:54 pm

Israeli Defense Minister Barak Sells Luxury Home

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Israel Defense Minister Ehud Barak. Photo: wiki commons.

Defense Minister Ehud Barak on Sunday sold his high-end apartment in the Akirov Towers in Tel Aviv, handing the property over to a relatively unknown businessman and admitting that his prior residence created a disconnect with the general public.

The transaction occurred on the same day the government approved measures aimed at shoring up the availability of affordable housing units in keeping with the recommendations of the Trajtenberg Committee, a panel of experts appointed by the government to address the demands of social protesters last summer.

The new owner of the apartment is Teddy Sagi, an Israeli businessman, who bought the apartment for NIS 26.5 million (about $7 million). His associates have confirmed the purchase.

“My wife Nili [Priel] and I decided that we needed to sell the apartment, having realized that living in such a place left large segments of the public feeling disconnected and estranged from us; we are now going to move to a smaller apartment, one that is less expensive,” Barak wrote on Facebook.

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