A 178 sq. meter, five-room, twenty ninth ground penthouse in Rishon Lezion has been bought for NIS 11.2 million. The condo, but to be constructed, and which will even have a 186 sq. meter roof space, is on Shprinzak Avenue close to the junction with Rothschild Boulevard within the Remez neighborhood, near the Gav Rave Interchange on Street 4.
The Remez neighborhood is a long-established neighborhood in West Rishon Lezion, typically known as the Previous West of town. The neighborhood has a really broad number of properties, from indifferent homes to high-rise condo blocks constructed within the Nineteen Seventies and Nineteen Eighties. Many of the condo buildings are 3-4 flooring excessive, however there are taller buildings
The typical worth of latest 4 and five-room flats constructed within the final 10 years within the neighborhood is about NIS 30,000 per sq. meter.
The Shprinzak Avenue undertaking, which is being constructed by Zvi Sarfati & Sons, and designed by Golomb Architects, will embody three towers, a park, and 15 two-family properties. The present tower has 29 flooring and 112 flats.
The offers accomplished to this point within the undertaking and printed on the Israel Tax Authority web site, embody 96 sq. meter four-room flats bought for round NIS 3.3-3.4 million, and 121 sq. meter, five-room flats bought for NIS 3.9-4.2 million. On greater flooring, bigger, 131 sq. meters, five-room flats have bought for costs of NIS 4.7-5 million. Total, the typical worth per sq. meter within the undertaking reaches NIS 33,000 per sq. meter, which is about 10% greater than is common within the space.
That is most likely the most costly condo ever bought in Rishon Lezion. Many of the properties, and there usually are not a lot of them that have been bought within the metropolis at this worth vary, have been homes. Two penthouse flats bought within the east of town on HaBadim Avenue and within the south, on Yuvalim Avenue, fetched costs of NIS 7.3-7.6 million.
Extra concerning the particulars of the deal, which hints on the secret of the excessive worth. The five-room condo is on the twenty ninth ground of the tower, in contrast with the sixteenth and seventeenth flooring of the opposite penthouses that have been not too long ago bought in Rishon Lezion. The patrons lived in a close-by indifferent home, and determined to maneuver to the penthouse with out having to go away for a brand new neighborhood.
The deal additionally reveals that what was thought-about taboo prior to now, residing subsequent to a busy intercity highway, is not such an essential issue. On this regard, the builders have made efforts to “compensate” patrons bothered by this location, within the type of massive balconies within the common flats, and notably unusually massive measurement of the penthouse condo. The placement, the ground, along with the beneficiant dimensions, and the truth that the condo is the one penthouse within the constructing – make it a very uncommon product, which resulted within the excessive worth.
RELATED ARTICLES
The value per sq. meter of the penthouse is NIS 46,000 per sq. meter, which is about 40% greater than the worth per sq. meter of the common flats, and this can be a cheap distinction between the costs of penthouses and the typical costs of the flats under.
The developer Zvi Sarfati & Sons CEO Moshe Sarfati says, “This can be a single penthouse in a constructing, luxurious and high-quality, within the outdated west of Rishon Lezion. The costs of 4-room flats within the undertaking attain NIS 3.5-3.6 million and the costs of standard 5-room flats – NIS 4-4.2 million. In different phrases, the worth of the penthouse is 2.5 occasions greater, and it’s barely greater than the common worth. We priced it this manner as a result of it’s a uncommon and high-quality product, and one purchaser is sufficient to promote it.”
Revealed by Globes, Israel enterprise information – en.globes.co.il – on October 27, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
