The planned project, which is nearing a building permit, includes 65 housing units above a commercial floor in a highly sought-after location in the center of Jerusalem, near the intersection of King George and Jaffa streets, on the light rail line.
This is a prestigious project that will mostly include small apartments with 2-3 rooms. On the higher floors, the project will include large and luxurious penthouse or duplex apartments. The architect of the project is Alex Ostrovsky. The financing for the project will be provided by the Ruby Capital Group and Clal Insurance.
“Tnufa Real Estate” was represented in the transaction by attorneys Avraham Abramman and Yochai Schechter from the office of S. Friedman Abramson & Co. Magurit was represented by attorney Sagi Cohen.
“Tnufa Real Estate” stated: “The center of Jerusalem has experienced a tremendous boom in recent years and there is a huge demand for apartments in the area, both by locals and by residents abroad. The new project is wonderful news for the housing market in Jerusalem and for many young people who are interested in living in the beating heart of Capital of Israel”.