Barak sells Tel Aviv apartment for NIS 26.5m

Defense minister due to vacate luxury property on 31st floor of Akirov Towers in six months, sources tell Globes.

March 18, 2012 20:03
1 minute read.
Akirov Towers

Akirov Towers 370. (photo credit: Wikimedia Commons)


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Defense Minister Ehud Barak sold his apartment on the 31st floor of Tel Aviv’s Akirov Towers for NIS 26.5 million over the past few days, people familiar with the matter told Globes Sunday. He is due to vacate the property in six months, they said.

Barak and his wife, Nili, first decided to sell the luxury apartment in August 2008. The original asking price for the 450-square-meter apartment was NIS 40m. The apartment is mortgaged for about NIS 12m., which was about the price that Barak paid for it in 2003.

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Barak’s apartment was bought by a foreign company, the sources said. It is also possible that an Israeli has actually bought the apartment and that the buyer prefers to hide behind the anonymity of a foreign corporation.

Either way, Barak has given details of the company and the buyers to the relevant government authorities, in accordance with reporting requirements that bind government ministers, the sources said.

The Baraks bought a 200-sq.-m. apartment two years ago for NIS 8m. in Tel Aviv’s new Assuta Towers on Jabotinsky Street. Other tenants in that project include Bank Leumi outgoing CEO Galia Maor and Mizrahi Tefahot Bank CEO Eli Yones. The Assuta project is expected to be completed in two years.

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