145 million shekels: who bought the most expensive apartment in Tel Aviv

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 145 million shekels: who bought the most expensive apartment in Tel Aviv

In an unusual transaction, the penthouse in the Shalom Meir tower in Tel Aviv was purchased for 145 million shekels. The buyer, in addition, paid another 14 million shekels of purchase tax.

The buyers were Roni and Yifat Irani, owners of the Irani Group (Elshard Group),

The group is known as the owner of the chain Factory 54 stores and franchises of a range of luxury brands. This is the third largest transaction in recent years in Israel.

72 years ago, in 1950, Abraham Irani immigrated from Iraq to Israel. He arrived as a wealthy man, bought land and dealt with finances. Abraham, who died in 2006 at the age of 84, is considered a pioneer of independent securities trading and non-banking financial intermediation, he even founded the Central Securities Company, which was later sold to become Migdal Shukey On.

30 years ago, his son, Roni Irani, started marketing international brands in Israel. This is where the empire began. The Irani Group, as already mentioned, owns the Factory 54 chain of stores and franchises of various brands in the luxury segment. Brands include Dolce & Gabbana, Valentino, Michael Kors, Saint Laurent, Lacoste, Hugo Boss, Armani, Emporio Armani, Tommy Hilfiger, Puma and others.

Today, the group, which employs about 1,600 people, has more than 120 stores, which are divided into Factory 54, Amor on Kikar Ha Medina, the Originals shoe chain, the Puma chain and Five Point Four, which is also expanding abroad.

In addition, at the end of last year, the family created an investment fund worth more than 100 million shekels. The fund will target retail and fashion startups, as well as startups in other areas of sustainability and innovation.

Tamir Ben Shahar, CEO of consulting firm Chemansky Ben Shahar & Co., which specializes in economic marketing, notes that what the Irani family has done over the years is also the history of the fashion world. “The group has taken over the luxury/premium market in Israel. The share of premium fashion in the fashion market is estimated at around 10% and is constant over time. They almost completely took over this whole “slot”.

Nir Shmol, CEO of real estate company Shinir, talks about buying the tower itself. “In Tel Aviv, there is practically no price for houses. Houses in the city are like art, and since Roni is an art lover, this house meets all his needs.

Two apartments located on floors 32-33-34 in the Shalom Meir tower, were previously offices of the Bezeq company. They were designed by Yoyo (Jonathan) Leitsdorf, who also lives in the first of the two apartments and is the one who came up with the idea for the two three-story penthouses on those floors. A businessman from Switzerland lives in the second apartment that Roni and Yifat Irani bought.

“Leitsdorf has been waiting for a client who would buy a penthouse at this price for a very long time,” says Yigal Tsemakh, chairman of the foundation. Geshrim.”

“These are not new buildings – finishing materials, fittings and plumbing were made a long time ago. On the other hand, it is a one-piece object, unlike the new towers that are being built today. There are not many such penthouses for sale, and the view from the apartment, located on the outskirts of Neve Tzedek, is amazing".

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