Tel Aviv-Yafo Municipality is promoting the condominium of the late Mania Bialik, spouse of nationwide poet Hayim Nahman Bialik. The condominium is up on the market at a minimal value of NIS 12.5 million plus VAT (NIS 14.75 million). Such an quantity displays the costliest value per sq. meter being requested for by sellers wherever within the metropolis.
The condominium is at 3 Melchett Road within the coronary heart of the town, between Rothschild Boulevard and Allenby Road. It’s a 145 sq. meter, four-room condominium, with a 30 sq. meter balcony and an eight sq. meter balcony, a storage room and parking within the constructing. The municipality, in accordance with the public sale brochure, has lease rights for the condominium for 999 years.
The edge situations included within the public sale brochure say, “The monetary supply of the public sale participant is not going to be lower than NIS 12,500,000, plus VAT as relevant. A bid that’s decrease than this quantity will probably be rejected.”
The minimal value is at the least NIS 76,220 per sq. meter, just like costs within the latest and most prestigious building tasks within the Sde Dov district, which is at the moment being constructed within the north of the town.
“We will definitely assume that there will probably be nice curiosity on this public sale,” an actual property supply tells “Globes,” “however the minimal value that has been set is much above the true value of the condominium. With optimum planning, it may maybe ‘scrape’ this worth from beneath, however in its present state, these are usually not its value ranges in my view.”
The public sale was revealed by the municipality in latest days, and can stay open for bids till September 14.
“All the weather within the constructing have been restored to their originals”
The constructing in Melchett Road was constructed within the Thirties and is taken into account a Bauhaus basic and such is topic to a preservation order by the municipality. Rothstein Actual Property unit Metropolis Folks City Renewal renovated the constructing as a part of a TAMA 38/1 city renewal and earthquake strengthening venture. The unique constructing had six residences on three flooring with three extra flooring added with one condominium on every flooring. A 273 sq. meter duplex on one of many new higher flooring with a 127 sq. meter balcony was bought a number of years in the past for NIS 25 million, reflecting NIS 74,300 per sq. meter. Barely decrease than the value now being requested by the municipality for the Bialik condominium.
Metropolis Folks City Renewal CEO and proprietor Ron Chen says, “This was an advanced venture with very excessive building prices, even by right this moment’s phrases, of round NIS 20,000 per sq. meter. Building was accomplished 3-4 years in the past, throughout which we raised the constructing as a way to construct a robotic parking zone. We carried out meticulous conservation work, by which all the weather of the constructing have been restored to their authentic stage. For instance, the railing on the balcony within the well-known picture of the late Mania Bialik was additionally restored to the identical mannequin and sort.
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“It is a venture in a superb location, within the coronary heart of Tel Aviv, the place all of the residences are massive residences, 100 sq. meters or extra in measurement. It took us a really very long time to implement it, due to its complexity, and through this time, we are able to assume that the condominium in query was vastly improved.”
The municipality had already sought to promote in 2009
The late Mania Bialik ordered earlier than her demise that her condominium be bequeathed for public use. For years, it housed a library after which a museum – the Theater Assortment named after the late Yehuda Gabbay. A couple of years in the past, the museum was vacated, and in 2009 it was introduced that the municipality needed to promote the condominium.
The request to promote the condominium itself was the main target of some controversy, because the late Mania Bialik had supposedly designated the condominium for public use solely. Prior to now, the municipality addressed this and acknowledged that there was no impediment to promoting the condominium. It must be famous that after the museum vacated the condominium, the municipality established the Girl’s Home named after Mania Bialik, which is positioned behind the Beit Bialik complicated, at 22 Bialik Road in Tel Aviv.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on July 15, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
