Exceptional deals: Mini-penthouse in Tel Aviv sold for 3.75 million shekels
The BSR Group project in the east of the city looks a bit crowded, but it has large balconies. A deal where you can get a 66 sqm balcony for less than 4 million shekels is rare in Tel Aviv. And also: where was a semi-detached house sold in the city for 4.35 million shekels?
The BSR Group is building quite a few projects in Tel Aviv. One of its well-known projects is the first evacuation-construction project in the east of the city, which was occupied in 2021. Anyone passing by the area finds it hard to miss this sight: a multitude of balconies close to each other, 270 apartments built for BSR by the construction company Electra Real Estate.
Recently, a mini-penthouse was sold in this project, NEXT TLV, in the Yad Eliyahu neighborhood. In fact, La Guardia Street crosses the neighborhood along its entire length, from east to west. In recent days, that same apartment was sold there for 3.75 million shekels. Although it is a three-room apartment with an area of about 84 sqm, it has a huge balcony attached to it with an area of about 66 sqm (the apartment has a MAMAD, of course). The apartment is located on the 7th floor out of 8.
According to the parties involved in the deal, this is a relatively unusual property in the area, mainly thanks to the large balcony, which is considered a rare feature in the local market. Another surprising figure in light of the period was the speed of the deal, as it was completed in less than a month, with the apartment being sold to the first buyer who came to see it.
The apartment that was sold (Roi Weiss)
How do you know it's a good price? A 95 sqm apartment with a regular balcony was recently sold in the project at a price of 3.85 million shekels - and it is on the second floor. Last November, a 43 sqm apartment on the second floor was sold at a price of 2.37 million shekels - 55 thousand shekels per sqm. What stands out in this deal is the balcony. Even if we take a third of the built-up area for the balcony (this happens when it comes to particularly large balconies), we get a good deal for the area.
The broker for the deal, Roi Weiss from Re/Max, explains that "properties with unique characteristics continue to stand out even in a challenging period. When it comes to a product that almost does not exist in the market, correct pricing and professional accompaniment can lead to a quick deal. I hear many people saying that properties are not being sold in today's market, but we are indeed progressing consistently and I believe the trend will continue."
We found another special property that was sold below market price. A semi-detached house in Ramat Israel/Bitzaron in Tel Aviv was sold for 4.35 million shekels. It is a house in a neighborhood of private homes, which is rare to find at this price. It is a semi-detached house on HaYasmin Street in the neighborhood. The house itself is not large, 90 sqm, and the plot is also relatively small, 163 sqm, but an examination shows that the property has additional building rights to build a four-story house - which could turn into a huge house.
The building in Tel Aviv (Roi Weiss)
The property was sold by heirs who wanted to create a quick deal. It was purchased by investors who understand the potential inherent in it. One of the most prominent characteristics of the property is the building potential inherent in it, alongside its location in a developing neighborhood characterized by private construction. Weiss explains that "properties that offer a combination of location, land, and building rights continue to arouse great interest in the country in general and even more so in Tel Aviv. Even in a period when buyers examine every deal carefully, unique properties manage to attract demand from those who look at the long term and understand the opportunities."
