The properties: Penthouse at the Ritz-Carlton Complex in Hertzliya with a starting price of NIS 10 million 15th-floor penthouse in Ramat Aviv C with a starting price: NIS 15 million
Photo Credit: Concierge Auctions
What’s happening to the Israeli deluxe residence market? It turns out brokers and sellers of luxury residences are forced to get unusually creative and out-of-the-ordinary if they are to succeed in selling luxury apartments. In addition to their offerings across England and countryside villas in France that are sold via auction, the international website Concierge Auctions, a worldwide leader in high-end real estate auctions in the tens of millions of shekels, will hold an auction on Tuesday, December 20 in New York during which properties in Israel will be put up for auction for the first time.
“This will be the first time the premium real estate arena in Israel receives official recognition from one of the leading players in the world in the field of real estate auctions,” declares Isadora Friedman, owner of Sotheby’s Real Estate Israel, a partner in the sale. “I have no doubt this is just a preliminary step that will open a window for local property owners who wish to expose those holdings to a global audience of hundreds of thousands, to complete the sale process as quickly as possible, and net the highest price in comparison to the alternative methods available today.”
According to Concierge Auctions President Michael Russo, “This is the largest auction we’ve held since the company was founded 8 years ago, with about 20 properties with a total values of approximately $100 million. The decision to include sales of Israeli properties in this auction was reached after a lengthy process during which we studied the luxury real estate market in Israel with the help of Sotheby’s Real Estate Israel and we discovered the immense potential inherent in that market from the perspective of wealthy investors from all over the world. We expect the two unique properties we have selected to attract an especially high number of bids.”
For purposes of the sales, the site representatives spent several weeks in Israel and toured among dozens properties presented to them by Sotheby’s International Real Estate, Israel. The two properties with the greatest sales potential were chosen for this first joint sale: a penthouse at the Ritz-Carlton in Hertzliya and another in Ramat Aviv C. Both properties were documented with professional photography to bring out their advantages to potential buyers around the world.
As noted, the auction will take place this Tuesday at noon, NY time and anyone interested in participating and submitting bids must deposit $100,000 earnest money with the bidder paying the sum regardless of whether he or she decides to buy a property in the end.
The Ritz-Carlton penthouse will go up for auction on the site on Tuesday with a starting price of NIS 10 million. The luxurious space covers 110 m², with a balcony of 41 m², two bedrooms, two bathrooms, an accessorized kitchen, and a furnished living room. The incoming owner of the penthouse will enjoy access to the five-star service of the Ritz-Carlton, such as dining, a rooftop pool, spa, fitness center, concierge services, and parking.
The starting price for the penthouse on Shlomo Mor-Yosef St. in the center of Ramat Aviv C stands at NIS 15 million. This property occupies an entire floor, measuring 230 m² and features five bedrooms and three bathrooms, on the 15th floor of a splendid building. The 230-m² apartment boasts a balcony that itself measures 270 m².
In addition to properties in Israel, the auction will feature luxury apartments, estates, and ranches, with the property commanding the highest starting price is a ranch in Santa Barabra, California, at a price of NIS 110 million; and a vacation apartment in the Caribbean occupying 10,000 m²at a price of NIS 53 million.