Historic Building Sells for 20 Million Shekels

According to Globes newspaper the building at 76 Ahad Ha’am Street in Tel Aviv was sold
for 20,000,000 NIS. The building is located on the corner of Ahad Ha’am and Nachmani
Streets which is in the neighborhood called “Lev Hair” (the heart of the city).

This is a neighborhood rich in beautiful historic buildings built in the eclectic and bauhaus styles.
Indeed, Nachmani Street (which cuts across the trendy Rothchild Blvd.) boasts some of the
most beautiful historical buildings in Tel Aviv, such as the Pagoda House, and two newly
renovated boutique hotels.

The building is built on a lot of 630 sq. meters and is four stories high, with 16
apartments some of which are still held by protected tenants. The building was built 65
years ago and was declared historical by the municipality but the owners will be allowed to
add an additional floor of 292 sq. meters. However, the renovation of the building will have
to be done in accordance with the strict rules that apply to historical buildings.

Although the area in which the building is located is a desirable one it suffers from a lack of parking. This is a prevalent problem with historical areas. No one knew 100 years ago that the automobile would become such a popular invention.