A 44th floor penthouse in one of the two towers in businessman Yitzhak Tshuva’s Park Bavli project in Tel Aviv was sold recently for NIS 43 million. The identity of the buyer has not been disclosed but market sources say it is an Israeli businessperson.
The 360 square meter penthouse covers half of the floor and also has a 145 square meter balcony. The purchase price reflects a price of NIS 100,000 per square meter. The Madlan website, the price per square meter in the Bavli neighborhood of Tel Aviv paid in recent deals, was on average NIS 59,400 per square meter.
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The penthouse was designed by the architect Gal Naor. The other penthouse on the 44th floor next to the one just purchased remains to be sold as well as other apartments in the project. The two towers in the Park Bavli project have been built by Tshuva’s Plaza Group. The entire project has 300 apartments in the two 44-floor towers. The two towers are at the center of a new neighborhood with six towers and 1,100 apartments.
One of the towers was the subject of a dispute over many years between the developers and Tel Aviv Municipality over demolition work that the municipality demanded be carried out. In March 2019, the parties reached agreements and construction of the tower began, which is currently in the occupancy stage. The penthouse that was purchased is in the first tower built. Tshuva himself purchased a 700 square meter duplex apartment in the project in 2019.
Published by Globes, Israel business news – en.globes.co.il – on March 12, 2025.
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