Source: Mansion Global —
One of the newer neighborhoods in Tel Aviv, Park Tzameret is an exclusive island-like oasis in the busiest part of the boisterous, highly populated Israeli city.
In the east-central side of the city, Park Tzameret was a rather ordinary, overlooked area defined by intersecting highways that became a go-to destination for the glitterati after it was developed and rebranded as a luxury-living community a decade ago.
“This created demand from celebrities and people from the entertainment, fashion and business worlds and turned the area into one of the most popular spots in Israel right now,” said David Bibian, founder and CEO of the Bibian Group Corp. Israel Real Estate. While Park Tzameret doesn’t have the historic character of other areas of Tel Aviv, such as Kerem HaTeimanim or Lev Tel Aviv, he said, “it is clean and high end.”
Boundaries
Park Tzameret is the northern section of Tzamarot Ayalon, the country’s wealthiest neighborhood. It is bounded by HaRav Shlomo Goren Street on the north, Jabotinsky Street on the south, Derech Namir Street on the west and Pinkhas Sapir Street on the east. The east and west boundaries are protected by nearly 15-foot-high acoustic barriers.
Price Range
“The average price is 51,000 shekels (nearly US$15,000) per square meter,” Mr. Bibian said. “For two bedrooms, you’ll pay around 3.9 million shekels (US$1.12 million) and for three bedrooms, the price tag is 5.7 million shekels (US$1.64 million).”
He adds that since the amenities are high end—the buildings have swimming pools, parking, doormen and balconies—the vaad or common charges are high in comparison to other developments in the country.
In Park Tzameret, the average monthly rate, per square meter, is 2,000 shekels (US$576.63); in other areas of the city, it’s about 700 to 1,200 shekels (US$201.82 to US$345.98), Mr. Bibian said.
Housing Stock
The 32-acre Park Tzameret consists of a dozen luxury high-rise condo buildings with fewer than 1,800 units and some 65,000 square feet of commercial and public buildings. The oldest of the buildings were built a decade ago.
YOO Towers 1 and 2 (2007), which was designed by Philippe Starck, W Boutique (2013), W Prime (2012) and One Tower (2008) are among the more desirable buildings, said Tamar Ben-David, an agent with the Real Estate Professional Team at Israel Sotheby’s International Realty.
“All of the towers feature luxury amenities, including 24/7 security, indoor gyms and underground parking,” Ms. Ben-David said, adding that most of them also have swimming pools.
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