Once the most expensive penthouse in Israel, oligarch sells Tel Aviv seafront apartment for a reduced $33M
Once the most expensive penthouse in Israel, oligarch sells Tel Aviv seafront apartment for a reduced $33M
Russian billionaire Valery Kogan bought the apartment on the 23rd floor of the SEA ONE Tower for around $30 million 15 years ago and spent several more millions in renovations. The buyers are Avivit Irini, the daughter of businessman Avraham Irini, and her partner Michael Sheina.
Fifteen years after purchasing the penthouse in the SEA ONE Tower project in Tel Aviv - which was the most expensive in Israel at the time - oligarch Valery Kogan has signed a deal to sell it for 120 million shekels (approximately $32 million).
The Russian billionaire bought the shell-level apartment in 2009 for 110 million shekels, but it is estimated that he invested tens of millions of shekels more in the apartment, making the actual price he paid much higher. Industry sources said that Kogan has been trying to sell the apartment for a long time, initially asking for at least twice the selling price he agreed upon.
3 View gallery
The view from Valery Kogan's SEA ONE penthouse.
(Photo: Sotheby's Israel Real Estate)
The buyers are Avivit Irini, the daughter of businessman Avraham Irini, and her partner Michael Sheina, and it was sold through Sotheby's Israel Real Estate. The penthouse is located on the 23rd floor of the SEA ONE Tower, which is used for both residential and hotel purposes operated by Isrotel. The tower was built by Ornim and Electra.
Despite progress towards concluding the deal, the parties are still awaiting the Tax Authority's decision due to their desire to include luxurious furniture within the apartment's price, thus exempting them from taxation.
