The land, owned by Amot Investments, is intended for the construction of a prestigious residential project comprising only 17 apartments. The buyers: brothers Paul and Jeffrey, owners of the Arena Mall shopping center in Herzliya.
The company Amot Investments, led by Natan Hetz, is finalizing the sale of a plot it owns on Rothschild Boulevard in Tel Aviv, which it is selling to Canadian brothers Paul and Jeffrey Wynn for 63 million NIS.
The plot, with an area of 832 square meters, is located at 80 Rothschild Boulevard and is intended for the construction of a prestigious residential building of only 17 apartments, which was put up for sale in November 2017.
According to estimates, the stagnation of the luxury market over the past year has affected the slow sales process experienced by Amot Investments. The building has an existing building permit, previously promoted by Amot in Bar Orian Architects, and includes 7 floors and 17 apartments with a built area of 2,240 m².
The plot is located in the central part of Rothschild Boulevard, between Nahmani and Mazeh streets, considered to be of high quality and quiet, as it is regarded as a residential area, while the section closer to the beginning of the street is considered more congested.
The existing building on the land, which is expected to be demolished, previously served under the name Bank Massad and formerly as Sderot Cinema. Last August, it was even announced that the organizer of the purchasing group Amit Kazaz was forming a purchasing group to acquire the land for 70 million NIS, but the consolidation and acquisition of the land by the group were not completed.
The Wynn family is a partner in the Reality Fund, owner of the Arena Mall in Herzliya, and the Wynn group, active in Canada and the United States, specializes in the management and maintenance of shopping centers and productive housing groups.
According to estimates, the family intends to build the project on Rothschild Boulevard in accordance with the existing permit and to sell the luxury apartments there.
The representative of the Wein family in Israel is Avishay Naamat, who will be the project manager at 80th Rothschild Blvd. According to a source close to the buyers, the brothers intend to increase their investments in real estate in Israel, particularly in Tel Aviv.
Amot is represented in the transaction by Boaz Tavor of Fisher Behar, and the Wein family is represented by lawyers Benjamin Baratz and Sagit Shahamon.
