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December 13th, 2005, 08:18 AM
Receiver offers Zameret Park lot for sale
The lot has been assessed at $23 million. Canada Israel Development, Habas HZ Investments and Ocif Investments and Development will reportedly make bids.
Guy Yamin 11 Dec 05 11:17
Tel Aviv’s Zamaret Park neighborhood, now under construction on one of the country’s most expensive land reserves, is highly sought after by developers and investors. At a time when almost no lots in the neighborhood are on the market, receiver Adv. Gad Frankel, representing a consortium of 12 individuals, is offering lot 11 for sale. The 3.7-dunam (0.925-acre) lot is zoned for 164 apartments in a 38-storey high-rise with 30,000-sq.m. in gross space. The sellers petitioned the court two months ago to liquidate their consortium.
Frankel hired an assessor, who valued the lot at NIS 108 million ($23 million), or $140,000 per land per apartment.
Sources inform ''Globes'' that Canada Israel Development Corp., which bought the adjacent lot 10 for $21 million a few months ago, will bid in the tender jointly with real estate broker Roni Maneh. Habas HZ Investments (1960) Ltd . (TASE:HABS) and Ocif Investments and Development Ltd. (TASE:OCIF), which are currently bidding to buy another lot in Zameret Park, will also probably bid for lot 11. Ocif recently bought a seven-dunam (1.75-acre) lot in Zameret Park, zoned for a high-rise with 127 apartments, for $20 million. Habas is building the luxury YOO project and BSR Engineering and Development Ltd. is building the Manhattan project nearby.
Published by Globes [online], Israel business news - www.globes.co.il - on December 11, 2005
The lot has been assessed at $23 million. Canada Israel Development, Habas HZ Investments and Ocif Investments and Development will reportedly make bids.
Guy Yamin 11 Dec 05 11:17
Tel Aviv’s Zamaret Park neighborhood, now under construction on one of the country’s most expensive land reserves, is highly sought after by developers and investors. At a time when almost no lots in the neighborhood are on the market, receiver Adv. Gad Frankel, representing a consortium of 12 individuals, is offering lot 11 for sale. The 3.7-dunam (0.925-acre) lot is zoned for 164 apartments in a 38-storey high-rise with 30,000-sq.m. in gross space. The sellers petitioned the court two months ago to liquidate their consortium.
Frankel hired an assessor, who valued the lot at NIS 108 million ($23 million), or $140,000 per land per apartment.
Sources inform ''Globes'' that Canada Israel Development Corp., which bought the adjacent lot 10 for $21 million a few months ago, will bid in the tender jointly with real estate broker Roni Maneh. Habas HZ Investments (1960) Ltd . (TASE:HABS) and Ocif Investments and Development Ltd. (TASE:OCIF), which are currently bidding to buy another lot in Zameret Park, will also probably bid for lot 11. Ocif recently bought a seven-dunam (1.75-acre) lot in Zameret Park, zoned for a high-rise with 127 apartments, for $20 million. Habas is building the luxury YOO project and BSR Engineering and Development Ltd. is building the Manhattan project nearby.
Published by Globes [online], Israel business news - www.globes.co.il - on December 11, 2005