Developers say the global economic crisis actually has big spenders investing in real estate again.

When this building was built in the 20’s, no one would have imagined that how it would look today. The building was extended, and now includes 45 apartments. 30 have already been sold, to billionaires throughout the world and some very rich Israelis. Much of the building has been preserved to maintain its original Bauhaus architectural style. This apartment with a sea view costs over 8 million dollars. It’s one of the cheapest, especially in comparison with the Penthouse.

The penthouse is over 7000 square feet plus a large deck. Negotiations are under way with a number of potential buyers. Sellers expect it to be the most expensive penthouse ever sold in Israel. The original asking price 30 million dollars, but then the price went up to 37 and a half million. Developers say the global economic crisis actually has big spenders investing in real estate again.