Florentin apartment fetches NIS 11.5m

Tel Aviv apartment was sold on 44 Salam Street on the southern border in the Florentin neighborhood with Jaffa on paper “for 11.5 million New. A apartment was built on the fifteenth floor square of five rooms and five rooms with two balconies 26 square meters in a frankly project by Yuvalim and City Boy owned by Ran Belinkis and Itzik Baruch.

Roi Dahaan, Yuvalim-City Boy sales manager, says the buyer is an investor who bought other apartments from the company and is considering living in this apartment.

“I have worked in this neighborhood for 14 years,” said Dahan.

According to the payment conditions, he says: “This is a deal where payments are spreading so that 7 % are paid on the signing of the contract, 13 % when receiving the permit and balance every year until the apartment is occupied.”

Frankly, 160 housing units in a 16 -storey building will include six floors. Boutique Hotel will be from 66 rooms, which will allow tenants to take advantage of amenities such as a semi -heated swimming pool, a spa and sauna, and a roof restaurant. Outside the building will be a small garden.

The pre -project period started two months ago with prices starting from 4.14 million NIS for two square rooms 55 square meters with a balcony of 8 square meters, but there is no parking lot.

Investors are fond of the Florentin neighborhood, which is bordered by Haleye Street to the east, Elifleg Street in the West, Jaffo Road to the North and Salam Street to the south. Levinski Market in the eastern part of Florentin.

According to MADLAN data, the average price of the apartment in Florentine is 3.4 million New and the average monthly rent is 7000 NIS. Over the past year, 72 apartments were sold in Florentine at an average rate of 59,700 NIS per square meter.

“Globes” said at the beginning of 2024 that there are difficulties in selling used apartments in Florentin because new projects provide 20 % of the payment conditions now and 80 % when the projects are completed.

“The colonized hand market is not the strongest due to interest rates. People are less willing to pick up mortgages and most deals” on paper. “We have sold this year in this field more than last year. We have many projects in the neighborhood in Herz 91, and Herzl 136-183.

The real estate appraisal Danny Tarsnsky of Camel Tarsnski Rafael examined the deal and said: “The deal analysis shows that the price is high in the Florentine region, a luxurious market in an urban renovation area, similar to the price range of deals in the region in recent months with similar specifications.

“The region is developing due to the proximity of the light railway that will pass near the property, and because of many urban renewal projects. Therefore, I expect prices in the region to continue to rise in the future.”

It was published by Globes, Israel Business News – En.globles.co.il – on February 3, 2025.

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