Two adjacent penthouse apartments, each 470 square meters in size, on the 26th-28th floors of the David Promenade Residences on Herbert Samuel Street on Tel Aviv seafront, are up for sale for NIS 160 million each. The apartment high-rise building is part of the Kempinski project, which includes one hotel tower and one residential tower.
Neot Shiran real estate broker Samuel Van Kote, wqho is marketing the project, said that the two penthouses are in shell form without interior design and can be bought and joined together. If the two apartments are purchased by one buyer, it will be one of the biggest deals ever in Israeli real estate.
Selling apartments of this caliber has always required patience, and at a time when the market is stagnant, and the luxury and mega-luxury markets are also affected by this, it may take even longer.
Even individually, these are among the most expensive properties in Tel Aviv. "These are properties of 470 square meters each and balconies with a total area of 156 square meters. The ceiling is six meters high, and each of the apartments has the option of an infinity pool on the roof and an internal elevator within the property."
Last year a penthouse in the Sea One project on Herbert Samuel Street was sold for about NIS 120 million, and about three years ago the triplex apartment in the Shalom Tower was sold for NIS 145 million.
The penthouses in the David Promenade Residences project are not the only luxury seafront apartments for sale in the city. This week, Orc Land announced that it has begun marketing the Assembly Tel Aviv project on Hayarkon Street, and that it selling the 600 square meter penthouse for NIS 110 million. Aviv Group has received a building permit and is marketing apartments in the Herbert Samuel SIX-8 project, but declined to say how much the penthouse in the project will cost.
The David Promenade Residences project was designed by the Feigin Architects. Van Kote says, "Our main efforts are towards Israelis and foreign residents who are already here in Israel, meaning people who already have a connection to the country and are highly motivated to find a property or increase their portfolio.
"The currency situation also has an impact, and there are deals that have risen and fallen due to changes in the value of the dollar and the euro. For an American client, it's about $40-50 million. Here in Israel, they can buy one of the special homes for that amount, while in New York it's just an apartment, beautiful and good but not unique,"
Published by Globes, Israel business news - en.globes.co.il - on August 5, 2025.
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