At Ibn Gvirol 48 in Tel Aviv, an unrenovated three-room apartment, with an area of 100 square meters, including two balconies, was sold on the third and last floor of a building with an elevator, without parking, for NIS 4.65 million.
“The apartment was owned by foreign residents who inherited it. According to the tax authority, it was purchased in 1980 for $ 54,000” (about 1.4 million pounds during the rising inflation period in Israel), notes Sergei Reznikov, Mary / Max Active-Bat Yam, who brokered the deal.
The apartment at Ibn Gvirol 48 in Tel Aviv / Photo: Maria Smith
The apartment is located in the heart of Ibn Gvirol, two buildings away from the Tzavta Theater. “The building was built in 1952,” describes Reznikov, “and the apartment is very large in relation to 3-room apartments in the area and in relation to apartments in such old buildings, what is more it has two balconies that are not counted in area and 17 sqm.” Elevators. The order of magnitude of the prices in Ibn Gvirol is about NIS 45,000 per square meter. The apartment was sold at a value of NIS 46.5 thousand per square meter.
“The apartment is empty and not rented for several years because it is uninhabitable, since it was not changed,” he emphasizes, “the apartment downstairs suffered from the leak and buyers will have to make general renovations and replace all infrastructure including plumbing and water systems.”
How long has it been on the shelf?
“The demand in Ibn Gvirol is very high and there is no supply. The marketing lasted two weeks, but only on Thursday and Friday we opened it for reference and during these two days about 20 interested people came to see it – some wanted to buy a residence. We chose its buyers after negotiations “We wanted the sellers to get the money as quickly as possible.”
The sellers were represented by Adv. Shmuel Giorno of the Azulai law firm Bloch from Jerusalem.
Talpiot neighborhood in Jerusalem: “An increase of 15% per year, as in the entire city center”
On Makor Haim Street in Talpiot, a 4-room apartment, 165 sq.m., with a 30 sq.m. balcony, a 9 sq.m. warehouse, on the 6th of 7th floor, in a building with an elevator, including parking, was sold for NIS 6.85 million.
The apartment in the Talpiot neighborhood of Jerusalem / Photo: Daniel Buzaglo – Tzimuki Properties
“Makor Haim Street has recently been upgraded, and is developing and in demand. The area has a boom of new buildings and the street is close to major neighborhoods in the city, such as the German Colony and Baka and also to commercial areas,” says Toby Vardi of Anglo Saxon Jerusalem, who represented buyers in the deal. “My customers are Americans, like many of the street shoppers who live abroad and buy residential.”
Vardi says that the apartment is located in the “Quadra” project – a complex of five buildings that includes a pool and a gym. “The apartment was originally 5 rooms and it was changed according to the needs of the tenants and it is renovated.”
How has the price increase in the neighborhood been in the last year?
“As in all of Jerusalem, in the city center neighborhoods there was an increase of at least 15%,” says Vardi. “The market in Jerusalem is very dynamic and there is interest among investors. A year ago, a similar apartment would have been sold for NIS 1 million less.” It also adds that in terms of transportation, the city is good and also developing.
Elia Gabay, a property and investment collector who represented the sellers, says that the property was on the shelf for two weeks. “Two buyers arrived who were interested in the property, one of whom was our customer and there was a price for the property. We started marketing at NIS 6.95 million, and the price dropped to NIS 6.85 million. Our customer decided to drop the deal because the apartment did not suit him, but bought the apartment opposite NIS 100,000 more. “
Sold
Tel Aviv
On Eibschitz Street, a 3-room apartment, 97 sq.m., on the 2nd floor out of 4, for NIS 5.87 million.
On Hasmonean Street, a 4-room apartment, 80 sq.m., on the 16th floor out of 40, including parking, for NIS 4.45 million.
On Marc Chagall Street, a 3-room apartment, 89 sq.m., on the 4th of 7th floor in a building with an elevator + parking, for NIS 4.22 million.
On Aryeh Altman Street, a 4-room apartment, 86 sq.m., on the 5th of 7th floor of a building with an elevator, including parking for NIS 2.85 million.
On Yehuda HaMaccabi Street, a 3-room apartment, 82 sq.m. on the 3rd of 6 floors in a building with an elevator, for NIS 3.25 million. (Anglo Saxon)
Jerusalem
On Hazamir Street in Mevaseret Zion, a 7-room cottage, 169 sq.m., on a plot of approximately 450 sq.m., including an 18 sq.m. warehouse, 330 sq.m. garden, for NIS 4.57 million (Anglo Saxon)
Netanya
On Givati Brigade Street in the Neve Oz neighborhood, a 5.5 room apartment, 130 sq.m., a 12 sq.m. balcony, on the 2nd floor out of 12, including parking, for NIS 2.15 million.
On Golda Meir Street in the Neot Golda neighborhood, a 3-room apartment, 75 sq.m., on the 6th of 8th floor in a building with parking, for NIS 1.32 million.
On Shazar Street in the Ramat Poleg neighborhood, a 4.5-room apartment, 126 sq.m., an 8 sq.m. balcony, on the 12th floor out of 14, including parking for NIS 2.68 million.
On Bar Yehuda Street in the Kiryat Nordau neighborhood, a 3-room apartment, 75 sq.m., on the 2nd of 3 floors, for NIS 1.54 million.
On King Solomon Street in the city center, a 3-room apartment, 70 sq.m., including a 6 sq.m. balcony, on the 6th floor out of 10, including parking, for NIS 2 million. (RE / max max)
Beer Sheva
On Rabbi Tene Street, a 5-room apartment, 147 sq.m., including a 14 sq.m. balcony, on the 7th of 15th floor, a building with a pool and a gym, including parking, for NIS 1.2 million (Anglo Saxon)
Afula
On the Jezreel district, a 4-room apartment, 130 sq.m., on the 3rd of 9 floors, including parking, for NIS 1.12 million.
On Oranim Street, a 5-room apartment, 160 sq.m., on the 4th of 6 floors in a building with an elevator, including parking, for NIS 1.36 million.
On the Jezreel district, a 5-room apartment, 157 sq.m., on the 1st of 9 floors, including parking, for NIS 1.36 million.
(RE / MAX 770)