Tel Aviv Apartment Leased for a Record-breaking $45,000 per Month

It’s a full-floor 320 square meters with six bedroom suites, each with its own bathroom.

Yael Engelhart

An apartment in north-central Tel Aviv has been rented for a record-breaking $45,000 per month, the highest tariff ever for a rental property in Israel.

The unit is in the Remez Tower at the corner of Arlosoroff and Remez streets. It has been leased to a tenant of Russian origin who lives most of the year abroad and has rented the apartment for six months.

The unit is on the 12th floor, and like most apartments in the building, it’s a full-floor 320 square meters (nearly 3,500 square feet). It features six bedroom suites, each with its own bathroom. There is also a guest suite with a separate entrance. The apartment was leased through Sotheby’s International Realty.

Not much is known about the landlord or the tenant other than that neither lives in Israel year round. The owner is an Israeli who lives in Europe and made his fortune in real estate. The tenant comes to Israel periodically on business and is said to have closed on the terms quickly without haggling or even seeing the property.

Real estate sources said the transaction was a bit of a shock even when considering Tel Aviv’s luxury market. Two key factors are said to have influenced the high rental rate: the short six-month term of the lease, and the tenant’s apparent soft approach on price.

Noam Dzaldov, a partner at the Neot Shiran real estate agency, said another apartment on a high floor of the building rented for $25,000 per month.