The sea-view apartments in Netanya, featuring 4-5 rooms, are part of the Nof HaTayelet neighborhood project developed by Levinstein and Magil. Over the past two months, these units were sold to foreign residents from North America. Real estate appraiser Ohad Danus commented: “These are price levels that are over 10% higher than the local market standard.”
In the last three months (September–November), four apartments in the Migdal HaTzuk project by Levinstein and Magil companies on Itamar Ben Avi Street in Netanya’s Nof HaTayelet (Park HaYam) neighborhood were sold for a total of approximately NIS 16 million. Three different buyers purchased these 4-5 room apartments, all religious-national residents of North America.
By Dror Nir Kastel, Nadlan Center
Two 4-room apartments on the 8th floor, spanning 103 sqm with a 15 sqm balcony, were sold for NIS 3.5 million each, purchased by a family in November. Additionally, two 5-room apartments measuring 130 sqm with a 15 sqm balcony on the 17th-20th floors were sold for NIS 4.1-4.2 million each in September and October. All the apartments offer sea views.
Based on the latest reported transactions to the Israel Tax Authority, the average price per sqm in the neighborhood stands at NIS 25,000-30,000 per sqm. These transactions represent record prices for the neighborhood. The buyers and their families reside in New Jersey, Long Island, Toronto, and Los Angeles, and most are professionals.
The project and its unique features
The Migdal HaTzuk project encompasses a residential complex on 5.7 dunams in Nof HaTayelet, close to the beach and city center. The 26-story tower will include 101 apartments with various layouts, including 4-5-room apartments and penthouses. The complex will feature a fitness room, a park with hydraulic exercise facilities, a yoga and Pilates area, a chill-out corner with hammocks and shaded seating areas, a stylish residents’ club, walking paths, strollers and bicycle rooms, and more. The project is in its final stages, with occupancy expected by July 2025.
Buying apartments in Israel as a ‘safe haven’
The project, designed by “Leah Rubanenko Architects,” includes an underground parking lot, a double-height lobby, four high-speed elevators, and a unique construction method called “Canadian Construction.” This technique incorporates technologies that enhance acoustic and thermal insulation in the apartments, provide maximum flexibility in planning, and allow for faster and more efficient construction.
Located approximately 350 meters from the sea in the southern part of the city, Park HaYam neighborhood connects Netanya’s main thoroughfares. This development will consist of 3,000 residential units adjacent to a future central business district, public and educational buildings, and a 50-dunam central park featuring pedestrian and bike paths, recreational activities, and rest areas.
Market analysis and prospects
Real estate appraiser Ohad Danos, former chairman of the Real Estate Appraisers Bureau, notes: “The area surrounding the tower represents the northern part of Nof HaTayelet, which includes older 7-10 story residential buildings alongside planned urban renewal projects with 21-story buildings. To the west, there are relatively new two-story private homes. The neighborhood spans from the beach inland, including the coastal promenade to the south. Prices in the tower—especially these recent transactions, which are nearly 10% above the neighborhood average—indicate strong branding and luxury appeal. The project’s combination of well-reputed developers, unique green construction methods, and a prime location with Mediterranean views has contributed to its success.”
According to Uri Fleishman, VP of Sales and Marketing at Levinstein Group: “The project attracts strong demand from foreign residents who appreciate Netanya and value proximity to the beach. Many see apartments in Israel as a ‘safe haven,’ offering protection against antisemitism in their home countries. Compared to other projects with later occupancy dates, the timing of occupancy in the second half of 2025 has been a key factor. These apartments have sold at record prices for the Park HaYam neighborhood, and we believe that if demand continues to grow, prices may rise further.”
