No buyers for Israel's most expensive apartment
There are still no buyers for the $50 million penthouse in Tel Aviv's Meier on Rothschild tower, nearly two years after the developers, Berggruen Residential Ltd. and Hagag Group Real Estate Development Ltd. put it on the market.
The "Palace in the Sky" is a 1,418-square meter penthouse on the 38th and 39th floors of the 42-story building.
Construction of the 180-meter Meier on Rothschild tower, designed by Pritzker Prize-winning architect Richard Meier, began in 2006, and is due to be completed in 2014. The developers say that 65% of the building's 141 apartments have already been sold. Two other penthouses are also still up for sale: the 728-square meter "Royal Penthouse", and the 607-square meter "Rothschild Summit"
Prices in the building range for NIS 5 million for a two-floor apartment on the first floor to NIS 90 million for apartments on higher floors. The great-grandson of the Baron Rothschild bought an apartment for NIS 60 million.