American buyer pays $18 million for Tel Aviv penthouse
Hagag Group said the buyer is an American Jew who purchased a two-story apartment in its Infinity Tower project for NIS 55.6 million. The price excludes finishing costs, and the wider development is expected to be completed in early 2027.
The Hagag Group announced Sunday that it had sold a penthouse in its Infinity project in Tel Aviv for NIS 55.6 million ($18.2 million). Spanning the tower’s 51st and 52nd floors, the apartment has 293 square meters of built-up space and balconies totaling 158 square meters. According to the company, the buyer is an American Jew. The price excludes finishing work, which the buyer will carry out.
The Infinity Tower is being built in the Sumail complex, at the corner of Ibn Gabirol and Jabotinsky streets in Tel Aviv. The project comprises 278 apartments across the tower and an additional building. It was designed by architect Moshe Tzur and is being constructed by Electra. According to the company, the project is expected to be ready for occupancy in the first quarter of 2027.
The land purchase agreements were signed in 2013 for a total consideration of approximately NIS 187.5 million ($61.5 million), excluding VAT, site clearance costs, betterment levies and development levies.
Related articles:
Hagag initially marketed the project as a purchasing group, under which members acquired land rights for joint construction. In 2021, the structure was changed, and the company assumed responsibility for completing construction for the group members at an agreed price linked to the Construction Input Price Index. At the same time, Hagag began selling the remaining apartments as a developer.
