Rishon Lezion penthouse fetches NIS 11.2m

A 178 square meter, five-room, 29th floor penthouse in Rishon Lezion has been sold for NIS 11.2 million. The apartment, yet to be built, and which will also have a 186 square meter roof area, is on Shprinzak Street near the junction with Rothschild Boulevard in the Remez neighborhood, close to the Gav Rave Interchange on Road 4.

The Remez neighborhood is a long-established neighborhood in West Rishon Lezion, sometimes referred to as the Old West of the city. The neighborhood has a very wide variety of homes, from detached houses to high-rise apartment blocks built in the 1970s and 1980s. Most of the apartment buildings are 3-4 floors high, but there are taller buildings

The average price of new four and five-room apartments built in the last 10 years in the neighborhood is about NIS 30,000 per square meter.

The Shprinzak Street project, which is being built by Zvi Sarfati & Sons, and designed by Golomb Architects, will include three towers, a park, and 15 two-family homes. The current tower has 29 floors and 112 apartments.

The deals completed so far in the project and published on the Israel Tax Authority website, include 96 square meter four-room apartments sold for around NIS 3.3-3.4 million, and 121 square meter, five-room apartments sold for NIS 3.9-4.2 million. On higher floors, larger, 131 square meters, five-room apartments have sold for prices of NIS 4.7-5 million. Overall, the average price per square meter in the project reaches NIS 33,000 per square meter, which is about 10% more than is usual in the area.

This is probably the most expensive apartment ever sold in Rishon Lezion. Most of the homes, and there are not many of them that were sold in the city at this price range, were houses. Two penthouse apartments sold in the east of the city on HaBadim Street and in the south, on Yuvalim Street, fetched prices of NIS 7.3-7.6 million.

More about the details of the deal, which hints at the secret of the high price. The five-room apartment is on the 29th floor of the tower, compared with the 16th and 17th floors of the other penthouses that were recently purchased in Rishon Lezion. The buyers lived in a nearby detached house, and decided to move to the penthouse without having to leave for a new neighborhood.

The deal also shows that what was considered taboo in the past, living next to a busy intercity road, is no longer such an important factor. In this regard, the developers have made efforts to “compensate” buyers bothered by this location, in the form of large balconies in the regular apartments, and particularly unusually large size of the penthouse apartment. The location, the floor, in addition to the generous dimensions, and the fact that the apartment is the only penthouse in the building – make it a truly rare product, which resulted in the high price.

The price per square meter of the penthouse is NIS 46,000 per square meter, which is about 40% more than the price per square meter of the regular apartments, and this is a reasonable difference between the prices of penthouses and the average prices of the apartments below.

The developer Zvi Sarfati & Sons CEO Moshe Sarfati says, “This is a single penthouse in a building, luxurious and high-quality, in the old west of Rishon Lezion. The prices of 4-room apartments in the project reach NIS 3.5-3.6 million and the prices of regular 5-room apartments – NIS 4-4.2 million. In other words, the price of the penthouse is 2.5 times higher, and it is slightly higher than the regular price. We priced it this way because it is a rare and high-quality product, and one buyer is enough to sell it.”

Published by Globes, Israel business news – en.globes.co.il – on October 27, 2025.

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