Building/Lot for Sale at Arlozorov Street (Hilton Area)

Characteristics

Description of the property

This is a project relating to the future planning of Arlozorov Street, which will have a commercial street front and a light train. The design is eye-catching on the street as we tried to emphasize the vertical direction that gives a towering look. The design of the building dictates a new concept for the regenerating area. The building includes 34 apartments above one commercial floor, with one basement floor that has storage space for all the occupants of the building. The building provides maximum services to tenants and includes a pool, lobby and storage areas for their convenience.

1. A lot measuring 644 sqm, located on Arlozorov Street, between Ben Yehuda and Dizengoff.
2. An existing 4-story building with 3 apartments on each floor (2x3 + 2x1 apartments).
3. Annual rental income from the apartments: 800,000 ILS.
4. The lot includes development rights for a 6.5-story building, with a total of approximately 2,300 sqm of residential space (gross), distributed as follows:
• Ground floor: 360 sqm gross.
• Standard floors: 5 x 360 sqm gross = 1,800 sqm gross (330 sqm net per floor).
• Commercial space: 100 sqm + 100 sqm basement garbage area.
• Rear garden apartments: Two garden apartments of 100 sqm built each, plus 100 sqm garden.
5. Penthouse: Two penthouses, each 100 sqm + 70 sqm rooftop, or one large penthouse.
6. Apartments planned: 6 apartments per floor.