Sheldon Adelson Said to Be Favored to Buy U.S. Ambassador’s Home in Israel
Prospective buyers told $70 million property was no longer on the market
Sheldon Adelson is apparently the leading contender to buy the U.S. ambassador’s home in Herzliya.
A few months ago, the U.S. State Department held a quiet auction to sell the house, valued at around $70 million, located on Galei Techelet Street. The house is in the row nearest the beach. The neighboring homes belong to billionaire Teddy Sagi and businesswoman Irit Strauss.
Several people have expressed interest in buying the residence, but they were told about a month ago that the property was no longer on the market and was likely to be sold to a non-Israeli. The buyer is widely thought to be Adelson, a Jewish American billionaire.
Adelson owns the Las Vegas Sands Corporation, which operates casinos, hotels and a cruise business. He also owns the local paper Israel Hayom and an apartment in Tel Aviv’s Bavli neighborhood.
The decision to sell the ambassador’s residence, which is considered one of the most expensive private homes in the country, is an outgrowth of the U.S. Embassy’s relocation from Tel Aviv to Jerusalem in 2018. The ambassador followed the embassy to the capital, making the Herzliya house superfluous.
The U.S. Embassy confirmed that the house is in the process of being sold, but said the deal hasn’t yet been finalized.
Two weeks ago, TheMarker asked Adelson’s staff whether he was the buyer, but they declined to respond. On Monday, the business daily Globes published an article about the negotiations.
The Adelson family’s spokesman declined to comment for this report.