Penthouse sold for 25 million shekels: New luxury project in Tel Aviv
A luxury apartment in a flagship project overlooking Yarkon Park has been purchased by a local couple, with the transaction price reflecting a significant premium over recent market averages on the street.
Eco City has announced a major luxury transaction in its flagship SOZO project on Bnei Dan Street, located on the first line of Yarkon Park in Tel Aviv. The penthouse at 22 Bnei Dan Street was sold for 24,900,000 shekels.
The penthouse occupies the entire sixth and top floor of the building. Spanning 217 sqm, the unit features 66 sqm of balcony space offering open views of the park. The deal includes premium specifications such as a private elevator, an outdoor kitchen from elite brands, advanced air conditioning, two parking spaces, and a storage unit. The buyers, a local couple, were provided with professional design support throughout the construction process.
The SOZO project is situated in one of the most sought-after areas of Tel Aviv's Quarter 4 and involves the construction of two new six-story buildings. The design concept was created by Eco City's internal firm, Grossbard Wingister Architecture.
The transaction price equates to approximately 100,000 shekels per sqm, significantly higher than the recent average of 76,000 shekels per sqm recorded on Bnei Dan Street.
This deal follows a series of successful transactions by Eco City in the area. Previously, two penthouses in the Bnei Dan 54-56 project were sold for 28.2 million shekels, and four months ago, a combined 194 sqm unit at 22 Bnei Dan was sold for 15.2 million shekels. The project has received a demolition permit, with construction of the new buildings set to begin following a demolition ceremony in late August.
According to the company, the luxury market remains active as sophisticated buyers prioritize unique properties that combine privacy with meticulous architecture. There is a notable preference for projects where the developer also serves as the executing contractor.
Ili Bar, owner and co-CEO of Eco City, stated:
"The luxury market in Tel Aviv remains very active. We are seeing interest primarily from high-tech executives and individuals seeking a high quality of urban life. In a period where certainty is a central consideration, the fact that we are both the developer and the contractor provides buyers with security throughout the entire process."
