Moldawsky Diamond Dealers Sell a Tel Aviv Beachfront Property for $1.95 Million

Diamond dealers Boaz and Yossi Moldawsky sold a 510 sq.m. beachfront lot at 154 Yarkon Street, Tel Aviv to French investors. The buyers paid $1.95 million. They plan to build a luxury apartment building on the site to include ten 200 sq.m. apartments, with the possibility of increasing the number of apartments to 12. The deal was brokered by Albert Rimi, owner of Century 21’s Commercial Department.

The French investors purchased the lot through the Olana company in Vaduz. Their decision to enter the Israeli real estate market was influenced by current low prices. They are presently negotiating purchase of another 6 properties, for a total investment of some $30 million: a Tel Aviv apartment building for $5 million, a building on Tel Aviv’s Rothschild Boulevard for $3 million, an office building in Herzliya Pituah for $6.5 million, a $4 million property in Haifa, a Tel Mond property for $2.5 million, and the Power Center at Bilu Junction for $9 million. Negotiations are being conducted through Rimi.


January 26, 2003 ,Globes Real Estate