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Gov-Nadlan Rav Kuk has bought the Rav Kuk lot within the Neve Tzedek neighborhood of Tel Aviv from an organization owned by telecom magnate Patrick Drahi for NIS 200 million. The three,300 sq. meter lot has constructing rights for 26 luxurious properties in 5 buildings, a few of which is able to contain renovating and preserving current buildings, whereas different will likely be fully new buildings.
The lot is within the southwestern nook of Neve Tzedek between Mered, Schmerling, Eliezer Rokeach and Ein Yaakov Streets. The lot consists of the Rav Kuk synagogue and his former workshop constructed 120 years in the past and a number of other dilapidated buildings held up by metal columns to stop them collapsing.
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Drahi purchased the lot seven years in the past for NIS 133 million by way of a overseas firm Yeshuati Ltd., managed by American Jewish businessman Edmund Shamsi.
Architect Gal Merom had drawn up a plan for an organization that had beforehand had an choice to purchase the lot, which preserved the prevailing buildings. The deliberate 26 properties will embody 6,800 sq. meters and the biggest of the homes will likely be 400 sq. meters in dimension.
Prior to now few years there was a authorized dispute between Drahi and Shamsi, with a compromise not too long ago reached, “Globes” has realized, that has paved the best way for the deal.
These authorized issues mixed with the foremost funding required to protect the buildings has meant that the lot has been offered much more cheaply than different such tons could be value in central Tel Aviv.
Gov-Nadlan Rav Kuk is a subsidiary of Gov-Nadlan, owned by businessman Shamar Gov, along with Almogim, who mentioned {that a} precondition for the deal was the authorized settlement between Drahi and Shamsi.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on September 26, 2021
Copyright of Globes Writer Itonut (1983) Ltd. 2021
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