Berggruen Residential, developer of the luxury tower, “Meier on Rothschild” located at 36 Rothschild Boulevard in Tel Aviv, reported this week that it has reached the benchmark of income amount of a billion NIS ($250 million) from the sales of apartments and penthouses in the tower. This is a new Israeli record of single residential building revenue.
The company still expects this record amount to rise since some apartments and penthouses are yet to be sold.
“PALACE IN THE SKY” penthouse is the most expensive residential apartment in Israel whose tag price is NIS 170 million ($42 million)
Yigal Zemah, CEO of the company said, “There is, and there will always be, a demand for quality and exceptional location and “Meier on Rothschild” tower is a great example of it. In December we have witnessed high sales volume which passed 60M NIS and there is much more interest in the last remaining apartments and penthouses.”
The company reported that it has retained the services of the Italian super designer, Patricia Urquiola to design the internal space of the “SUMMIT PENTHOUSE”. Premier designer’s track record, who considered being one of the five world’s leading interior designers, projects in Spain, Italy, Singapore, Qatar and more. Urquiola known as a designer that makes cultural and environmental icons from the structures she designs.
“We selected the top designer to design the penthouse which will be used as a model penthouse” said Zemah.
“Meier on Rothschild” tower was designed by Richard Meier, the winner of the prestigious Pritzker Prize winner and was chosen by The Forbes Magazine as one of the ten most prestigious towers in the world. The building is built according to the highest international standards and also includes amenities such as the biggest and most luxurious gym and spa in a residential building in Israel, semi-Olympic swimming pool, wine cellar, business and tenant’s lounge, 24/7 security and concierge services and 6 floors of underground parking lot.
Entrepreneurial, Berggruen Residential is owned by American billionaire, Nicolas Berggruen, Hajaj group and the Cohen Brothers.