Roman Abramovich buys Herzliya home for NIS 226m
Just before the coronavirus crisis began, Israel's most
expensive-ever residential real estate sale was completed, a source close to
the deal has told "Globes." Russian-Israeli billionaire Roman
Abramovich has bought a property in Herzliya Pituah for NIS 226 million ($64.5
million). The property is bounded by Hanassi Ben Zvi Street, Shlomo Hamelekh Street
and Basel Street. Abramovich has bought land covering 2.375 acres, or 9,500
square meters.
The main part of the property is a house formerly belonging
to British hedge fund manager Alan Howard, cofounder of Brevan Howard Asset
Management. He bought the home in 2006 from Lenny Recanati for $9 million.
Howard spent enormously in enhancing the property, expanding
the lot from 6,500 square meters to 9,500 square meters and constructing two
impressive buildings designed by architect Orly Shrem. The smaller of the
buildings is a 1,000 square meter guest house at 93 Hanassi Ben Zvi Street and
the larger, the main property, is a 2,000 square meter house next door at 95
Hanassi Ben Zvi Street. The estate includes a tennis court, and swimming pool
on a hydraulic platform that can be converted into a guest area for events. The
house's basement includes work stations for 10 computers and there is also an
entrance to the house from Shlomo Hamelekh Street.
The property was for sale for two years for $100 million but
there were no takers. Last year, Abramovich rented the property with an option
to buy. At the end of January the purchase deal for the property was signed.
Although it does not yet appear on the Israel Tax Authority website, the Israel
Land Registry does have a warning note in its forms that the four lots
comprising the property are to be in Abramovich's name.
This is the third property that Abramovich has purchased in
Israel in recent years. In 2015, he bought the Versano boutique hotel at 11
Shabazi Street in Tel Aviv's Neve Tzedek quarter for NIS 104 million. The
property includes both the boutique hotel, which has a preservation order on
it, as well as the adjacent lot.
Last year, Abramovich bought through a company that he owns,
Beit Hagen, at 2 Schenkar Street on Tel Aviv seafront. The five floor office
building is encompasses 6,500 square meters and 120 parking spaces and there
are building rights for an additional 12,000 square meters. The building can be
rezoned for hotel and residential purposes and according to
"Calcalist," Abramovich paid NIS 200 million for it.
Abramovich joins a select club of people who have paid over
NIS 100 million for a home in Israel. In 2005, Austrian businessman Martin
Schlaff sold a house on Galei Takhelet Street in Herzliya Pituah to high-tech
businessman Zaki Rakib for over NIS 100 million, which he sold in 2010 to Teddy
Sagi for NIS 146 million. In 2009, Russian oligarch Valery Kogan bought five
adjoining penthouse apartments in the Sea One project on Tel Aviv seafront and
merged them into a 1,100 square meter apartment for NIS 110 million, which he
subsequently sold to Canadian-Israeli billionaire Sylvan Adams. Kogan also
bought a collection of adjacent lots for an unknown amount in Caesarea.
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