Title: Garden Apartment in Givatayim Sold for NIS 4.4 Million
Subtitle: Real estate deal involving an inheritance apartment and appraisal controversy
Givatayim, Israel – In a recent real estate transaction, a garden apartment in the area of the electricity company in Givatayim was sold for NIS 4.4 million. The apartment, measuring 110 square meters with a 60 square meter yard and a private entrance, does not include parking facilities. The property was part of a ‘Raviiyeh’ building, comprised of two apartments on the ground floor and two apartments on the first floor. The building, which was built in 1960, had undergone a basic renovation of the toilets and shower.
Tzach Ben-Basset, a real estate broker, explained the complexities of the deal. The apartment was an inheritance property for seven heirs, some of whom were older in age. One of the heirs required court approval, as they had a guardian who needed to sign on their behalf for the transaction. The registration process of the warning note in favor of the buyer also experienced delays due to this approval. The sale became valid only after the warning note was securely registered.
The buyer, a young man currently living in a rental property in the same area, sought to move into an apartment while remaining in close proximity to his children. His plan was to purchase the apartment, renovate it, and make it his permanent residence.
After lengthy negotiations with the heirs’ representative, the final price for the apartment was agreed upon at NIS 4.4 million. Despite an initial issue with the appraised value, wherein the bank’s list of appraisers assessed the property at NIS 3.2 million, another appraiser familiar with the city’s real estate market confirmed the property’s value. This allowed the terms of the contract to be fulfilled.
In addition to the Givatayim transaction, several other properties were also recently sold in different areas:
Kiryat Ono:
– A 4-room apartment on Zamir Street, measuring 100 square meters and located on the 5th floor out of 7, was sold for NIS 3 million.
– A 5-room apartment on HaKfar Street, measuring 130 square meters and located on the 5th floor out of 7, with parking for two cars, was sold for NIS 4.6 million.
– A 3-room apartment on Korchak Street, measuring 56 square meters and situated on the 4th floor out of 4, was sold for NIS 2.06 million.
– A 6-room apartment on Ibn Ezra Street, measuring 140 square meters and located on the 2nd floor out of 13, was sold for NIS 2.33 million.
Ness Ziona:
– A 5-room apartment on Moshe Lerer Street, measuring 177 square meters and situated on the 5th floor out of 7, with parking for two cars, was sold for NIS 4.05 million.
– A 4-room apartment on Hamot Street, measuring 106 square meters and located on the 2nd floor out of 9, with parking, was sold for NIS 2.72 million.
– A 4-room apartment on Hoshan Street, measuring 164 square meters and situated on the 5th floor out of 9, with parking, was sold for NIS 3.3 million.
– A 3-room apartment on Sokolov Street, measuring 86 square meters and located on the 6th floor out of 7, was sold for NIS 2.3 million.
Tel Aviv:
– A 5-room apartment on Rama Street in Neve Sharet, measuring 121 square meters and situated on the 12th floor out of 27, with a balcony, a warehouse, and two parking spaces, was sold for NIS 4.97 million.
– A 4-room apartment on Weinschel Street in Naot Afka, measuring 107 square meters and located on the 14th floor out of 16, with parking for two cars, was sold for NIS 4.32 million.
– A 4-room apartment on Etzel Street in the Hatikva neighborhood, measuring 86 square meters and situated on the 6th floor out of 8, was sold for NIS 2.2 million.
– A 2-room apartment on Bogarshov Street, measuring 36 square meters and located on the 3rd floor out of 4, was sold for NIS 2.5 million.
Petah Tikva:
– A 3-room apartment on Histadrut Street, measuring 93 square meters and situated on the 5th floor out of 7, was sold for NIS 1.7 million.
– A 4-room apartment on Nes Ziona Street, measuring 100 square meters and located on the 4th floor out of 7, with parking for two cars, was sold for NIS 2.79 million.
– A 5-room apartment on Meir Dankner Street, measuring 134 square meters and situated on the 21st floor out of 28, with parking, was sold for NIS 3.45 million.
– A private house with 5 rooms and 163 square meters on Yona Street was sold for NIS 4.8 million.
Rosh HaAyin:
– A 3-room apartment on Shabazi Street, measuring 97 square meters and situated on the 4th floor out of 7, was sold for NIS 1.29 million.
These recent real estate transactions highlight the diverse property market across different cities in Israel.