Karlin Group and Liz Management and Holdings have bought part of a lot at 102 Hayarkon Street at the corner of Mendele Mocher Sforim Street, opposite the Dan Tel Aviv Hotel, from Multiland for NIS 21 million. The purchasing companies, owned by businessperson Reuven Zaluf, plan to build a seven-story building with 27 apartments on the site. The plan is in the deposit stage.
Multiland began to promote an urban building plan at the Local Planning and Building Commission, and the purchasers will continue to promote it, while moving parts of buildings marked for preservation on Gotlieb and Nahalat Binyamin Streets. According to the plans, the developers own construction rights for 750 square meters. The old two-storey building on the site will be preserved, while the new building will be erected behind it over a commercial floor and underground parking. The Yaniv Pardo architectural firm designed the project.
Karlin Group owner Alex Karlin confirmed the particulars, and told "Globes," "We are in the advanced planning stages, and hope to obtain a building permit in the coming year. The planned construction poses a challenge of preserving and suspending the building in order to build the underground parking. There is also the difficulty of construction near the sea, of course. In order to avoid working in the sea, the digging of the underground parking floors must be precise, and take place during the season in which the water is at a low point."
Karlin added that marketing the apartments would begin after the building permit is obtained. Advocate Yaron Gaver is providing advice for the project.
Published by Globes [online], Israel Business News - www.globes-online.com - on November 22, 2017
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