A 5-room penthouse, with an area of 208 square meters and another 59 square meters of balcony, on the 34th floor out of 34, including two parking spaces, was sold at 8 Yitzhak Sade Street for 8.5 million shekels.
The penthouse is located in a central area in Bat Yam, in the neighborhood known as “The Towers Avenue” – near the city park and the beach. In the area there are social services, shopping centers and a variety of public transportation lines.
“The building was built four years ago by the Ashdar company, each floor has five apartments and it has two penthouse apartments and it is on the second line to the sea,” says Eli Adibi, franchisee of the Keller Williams Bat Yam branch.
“The property was purchased for investment, and the buyer is a resident abroad who is waiting to profit from the future increase in its price. We went into marketing with a price tag of NIS 9.9 million, which is a relatively high price. The property was on the market for about six months, during which we held an open house and invited realtors and potential customers to submit an offer, and the highest bidder took it.”
Yitzhak Sadeh 8, Bat Yam / Photo: Eyal Yitzhar
According to him, the gap between the marketing price and the closing price is related to the calm in the market. “There is not an abundance of buyers in the market right now, the sellers are not getting what they want and we are in a time when the buyers are not stressed and the sellers are in a different situation than it was a year ago. The market right now is mostly in favor of the buyers.”
Regarding the rent, Adibi estimates that the property can be rented for up to NIS 20,000 per month.
In Bat Yam, housing prices have crossed the NIS 40,000 mark per square meter, especially in the vicinity of the train route and the Red Line.
The penthouse at 8 Yitzhak Sade St., Bat Yam / Photo: Gadi Rubin
The amount of the transaction reflects a price of NIS 29,411 per square meter, and according to reports at the Tax Authority, this price reflects a relatively low value compared to the other transactions carried out in the neighborhood in the past year. For example: in January of this year, a deal was closed on a 100 square meter housing unit for 3.5 million NIS – 35 thousand NIS per square meter, in February this year an apartment with an area of 131 square meters was sold for 4.5 million – NIS 34,351 per square meter and last June an apartment with an area of 87 square meters was sold for 2.58 million – NIS 29,712 per square meter.
The deal was brokered by Gadi Rubin and Orly Zagori from the Keller Williams brokerage office in Bat Yam.
Evaluation of assessor:
Iris Kadari Shlomowitz, a real estate appraiser specializing in the Holon and Bat Yam area, says that “penthouses in the immediate vicinity are sold at a price of 38-50 thousand shekels per built square meter, which also includes the balcony. Between January and June of this year, three such apartments were sold and the price range in these transactions ranges from 39.6 thousand shekels per square meter to 50 thousand shekels per square meter.
Second hand apartments
were sold
Jerusalem
On Eliezer Shiloni Street in the slopes of Mashoa5-room apartment 135 square meters + 18 square meters of balcony + 4 square meters of storage, 12th floor out of 17, including parking, for NIS 3.75 million. (Anglo Saxon)
On Lincoln Street in the Talvia neighborhood3-room apartment, 80 square meters, 1st floor out of 7, with elevator and parking, for NIS 3.7 million.
on November 29th Street in Katamon3.5 room apartment, 79 square meters, 2nd floor out of 3, for NIS 3.27 million.
on Bar Kochba Street in French Hill3-room apartment, 66 square meters, floor 1 of 5, for NIS 2.09 million. (Re/Max Chazon)
Tel Aviv
on Monash Street by Yad Eliyahu4-room apartment, 82 square meters, 3rd floor out of 4, for NIS 2.92 million.
On the Street of the Unknown Hero by Yad Eliyahu3-room apartment, 80 square meters, floor 5 of 8 with an elevator, for NIS 3.18 million.
On Nissim Aloni Street in Tzamert Park5-room apartment, 135 square meters, balcony 15 square meters, floor 15 out of 28, including parking, for NIS 7.4 million. (Ree/Max Ocean)
Haifa
on Wedgwood Street in the center of Carmel4-room apartment, 90 square meters, 3rd floor of 3, for NIS 1.5 million.
On Albert Einstein St. in Givat Downs neighborhood4-room apartment, 100 square meters, 3rd floor out of 3, including parking, for NIS 1.38 million. (Re/Max City)
Beer Sheva
on Bezalel St5-room apartment, 167 square meters, floor 17 of 22, including a warehouse, for NIS 1.8 million. (Anglo Saxon)
Holon
on Sokolov St2-room apartment, 70 square meters, 3rd floor of 3, for NIS 1.57 million.
on Weizman Street3-room apartment, 85 square meters, 2nd floor of 2, for NIS 2.01 million. (Ree/Max Center)
Rishon Lezion
on Yaakov Ben Sira Street5-room garden apartment, 125 square meters, garden 130 square meters, ground floor out of 8, with double parking, for NIS 4.34 million. (Ree/Max Center)
Ashdod
On IDF Street in the City Quarter4-room apartment, 145 square meters, 17 square meters balcony, 11th floor out of 40, including parking, for NIS 3.26 million.