At 4 Patterson St., in the vicinity, “Beit Fauser”, a 5-room garden apartment, 115 square meters with a 140 square meter garden, without parking, was sold for NIS 6 million.
The property is of historical value and is part of a conservation plan that does not include additional building rights. According to the master plan for the Jerusalem Colonies, the property is part of the “Fauser House”, which was used as a pastry shop, a sweet shop and a small factory for the production of ice and ice cream alongside a building that was used as the family’s residence from 1880.
The house at 4 Patterson St. in Katharia / Photo: Benny Lovel
The house is at the eastern end of the German colony, within walking distance of the windmill in Mishkanim Shananim. The street is an internal street to Emek Refaim and the whole area is considered central and sought after in the heart of the city.
“The property was recently renovated, as part of which the pipes were replaced and the authentic features of the building were preserved – the ceilings and windows are original from the time of the Templars, as well as the facing stones on the arches,” says Anita Weitzman, a real estate consultant from Anglo Saxon Jerusalem who represented the sellers in the transaction. “The German Colony is one of the best neighborhoods In a city characterized by old houses.”
How long was it on the shelf?
“The property was marketed for about ten months because it is a different property, neither modern nor cheap. We went on the market for NIS 6.2 million, so that there would be a margin of maneuver. It is a garden apartment, and the garden is registered as joint property with an oral division, but there is no written division. The buyers are from abroad, who asked to collect it in writing, and in order to speed up the transaction, there was a NIS 200,000 drop from the price.”
The house at 4 Patterson St. in Katharia / Photo: Benny Lovel
Weizman points out that the property can be rented out on Airbnb and the real rent for it is NIS 14-15 thousand per month. “Prices in the area have risen in the last year, as they have in all of Jerusalem, by about 15%, and prices in the neighborhood are around NIS 50,000 per square meter.”
According to her, the original owners are a family that has lived in the property for 40 years.
Evaluation of assessor:
Elad Zaira, a real estate appraiser from Jerusalem, points out that “the property is listed in the tabu form as 118 square meters without the attachment of a garden and parking, so the transaction reflects a value of approximately NIS 51,000 per built square meter. According to the Tax Authority’s website, the same building was sold in December 2015 , a 125 square meter apartment for NIS 6.82 million – a deal that even then reflected a price of NIS 54,600 per square meter.”
Zaira explains that these prices are higher than the prices in the area, but according to him “it is likely that the consideration paid in these transactions reflects the historical value inherent in the property”.
were sold
Jerusalem
On 18th Street in the city center, a renovated 5-room apartment, 127 square meters, 7 square meters of balcony, 8 square meters of storage, floor 20 out of 24, with parking, for 5.5 million.
On Shamai Street in the city center, a 3-room apartment 70 square meters, 3 balconies – each 2.5 square meters, floor 4 out of 5, no parking, no elevator, for NIS 2.9 million.
On the street of the ghetto fighters in French Giva, a renovated 5-room apartment, 85 square meters, 2nd floor out of 6 without elevator, including parking, for NIS 2.39 million. (Anglo Saxon)
Beer Sheva
On Avigdor HaMeiri Street in the Neve Ze’ev neighborhood, a 4-room apartment, 105 square meters, 6th floor out of 6 with an elevator and parking, for NIS 890,000.
On Wingate Street in neighborhood C, a 3-room apartment, 68 square meters, 2nd floor out of 2, for NIS 717,000.
On Yaakov Dori street in neighborhood V, 4-room apartment, 95 square meters, 4th floor out of 4, for NIS 690,000.
On Oli Gerdom Street in neighborhood C, 3-room apartment, 85 square meters, floor 13 out of 16, including parking, for NIS 1.08 million. (Re/Max Plus)
Ashdod
On IDF Street in the City district, a 4-room apartment, 145 square meters, 17 square meters balcony, 11th floor out of 40, including parking, for NIS 3.26 million.
On Maafilim Street in neighborhood B, a 3-room apartment, 72 square meters, 3rd floor out of 4, for NIS 1.53 million.
On Jeroboam Hamelech Street in the 13th District, a 5-room garden apartment, 125 square meters, garden 80 square meters, ground floor out of 4, including parking, for NIS 2.92 million. (Ri/Max TOGETHER)
On Jeremiah Halperin St. in the 6th district, a 5-room cottage, 144 square meters, with private parking and additional building rights, for NIS 3.05 million. (Anglo Saxon)
Holon
On Meshaul Hosham Street, 5-room apartment, 112 square meters, 1st floor out of 7 with an elevator, including parking, for NIS 2.5 million.
On Mefes Sinai Street, 2-room apartment, 60 square meters, 3rd floor out of 4, for NIS 1.48 million. (Re/Max Top Platinum)
Kiryat Malachi
On San Diego Street, 3-room apartment, 43 square meters, ground floor out of 3, for NIS 970,000 (Re/Max Advances)