Assembly Tel Aviv Luxury Project Sells Six Apartments for NIS 180 Million
Six luxury apartments at the Assembly Tel Aviv project on HaYarkon Street have been sold for approximately NIS 180 million prior to official marketing, led by international and local buyers.
Six luxury apartments at the Assembly Tel Aviv residential and hotel project on HaYarkon Street have been sold to buyers from Israel and abroad for a total of approximately NIS 180 million, ahead of official marketing. The project is being developed by ORC Land Group, controlled by businessman Raz Oded and Bank Hapoalim, in partnership with the Nakash brothers.
Record Transactions and International Buyers
The largest transaction involved a family from Paris, which purchased an entire floor spanning 476 square meters for approximately NIS 64 million, translating to roughly NIS 134,000 per square meter. Another significant deal featured a Jewish businesswoman living in Monaco who acquired half a floor spanning 246 square meters for about NIS 37 million, reflecting a rate of NIS 150,000 per square meter. In addition, an Israeli high-tech family purchased half a floor covering 250 square meters for NIS 35.5 million.
According to company data, roughly 60% of the 67 planned residential apartments in the 20-story tower have already been sold prior to any public advertising campaigns. The transactions were concluded through personal networks and referrals, with the majority of purchasers intending to use the properties as primary residences rather than investment assets.
Project Specifications and Financial Backing
The Assembly Tel Aviv project is backed by an investment exceeding NIS 800 million and combines residential living, a five-star hotel with 230 suites, and commercial spaces. The tower was designed by Moshe Tzur Architects, with interior public spaces styled by London-based Studio ARA. Full construction permits were secured in August, with Electra Building executing the works under the financial accompaniment of Bank Hapoalim.
Real estate appraiser Shmulik Cohen, CEO of SK Appraisal, noted that pricing levels derive from financial certainty, mixed-use hotel integration, and an exclusive first-line beachfront location with limited future supply. Tal Giron, CEO of Assembly Tel Aviv, emphasized that buyers appreciate the combination of prime location, privacy, and premier hospitality services.
