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February 25, 2014 12:47 pm

Canadian-Jewish Developer Buys Tel Aviv Seaside Penthouse for NIS 110M (PHOTOS)

avatar by Shiryn Ghermezian

The Herbert Samuel project. Photo: Migdalim.

A Canadian-Jewish real estate developer bought a penthouse in Tel Aviv’s seafront 10 Herbert Samuel development for a whopping NIS 110 million ($31,200,000), Israeli business daily Globes reported on Sunday.

The 700-square meter penthouse is on the building’s 20th and 21st floors and has 300 square meters of balcony space. The luxury pad is currently being constructed by Ofer Investments Ltd., according to the report.

Sources told Globes the penthouse was bought in shell condition and that the deal was signed several weeks ago. The sale reflects a price of NIS 120,000 per square meter factoring in the penthouse’s floor space and half the area of its balconies.

It was previously reported that shipping magnate Eyal Ofer was going to buy the same penthouse for NIS 115 million, but the deal never materialized and the dwelling was put back on the market.

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The 21-storey Herbert Samuel project has 40 apartments, 36 of which have already been sold. It has a swimming pool on the third floor, as well as spa and fitness rooms.

The project is located on Herbert Samuel Road between Daniel and Nehamia Streets by the Tel Aviv promenade. The hand-picked color palette for all the apartments and lofts includes shades of white, blue and grey in order to mirror the vista of sea, sky and clouds, according to the project’s official website. The property was carefully designed in order to amplify the sensation of floating above the sea.

See photos from inside the Herbert Samuel project below:

The Herbert Samuel project. Photo: Migdalim.

The Herbert Samuel project. Photo: Migdalim.

The Herbert Samuel project. Photo: 10hs.

The Herbert Samuel project. Photo: 10hs.

The Herbert Samuel project. Photo: 10hs.

The Herbert Samuel project. Photo: 10hs.

The Herbert Samuel project. Photo: 10hs.

The Herbert Samuel project. Photo: 10hs.

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