Globes reports that the property, valued at up to NIS 500 million, currently serves as government offices. A plan to rezone it for residential use faces obstacles from high office supply and development levies.
Globes reports that the last significant real estate asset remaining in the hands of former tycoon Nochi Dankner — 'Ivory House' in the Givat Shaul neighborhood of Jerusalem — is being put up for sale as part of his insolvency proceedings. The property is valued at up to NIS 500 million and currently serves as offices for government agencies. Although a development plan exists to change its designation to residential use, implementation is expected to encounter difficulties given the high supply of office space in the city and anticipated development levies. This follows Dankner's earlier agreement to be declared bankrupt over a debt of approximately NIS 550 million to major banks, as The Zioneer previously reported.
- StrongFormer tycoon Nochi Dankner declared bankrupt, enters debt settlement talks
- DevelopingReport: Goldknopf's real estate holdings valued at ~70 million shekels
- DevelopingReport: Goldknopf bought 3 luxury Jerusalem apartments for 8.8 million shekels
- StrongGlobes: Yedioth Ahronoth owner Noni Mozes sells half of Tel Aviv-area HQ buildings for ~NIS 160m
Source and signal
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