Boris Kuzinez to build one of Israel’s most expensive homes

Israeli-Russian billionaire will demolish his current seafront Herzliya Pituach home.

Sources inform Globes that Israeli-Russian billionaire Boris Kuzinez, the CEO of RGI International Ltd., will demolish his seafront Herzliya Pituah home and build Israel’s most luxurious house on the site.
He bought the property at 66 Galei Tchelet Street in 2009 for NIS 82 million, one of the highest prices ever paid for a house in Israel at the time.
Kuzinez has filed a plan with the Herzliya Local Planning and Building Commission to build a 1,000-square meter house on the 1,300-square meter lot. The house will include an elevator, indoor garage, courtyard, 100-square meter swimming pool and fitness room. A Russian architect will design the house.
The site is currently occupied by a ten-room house built in 1982. Kuzinez bought the house from former Alcatel Israel general manager Michael Kaufman.
Kuzinez will have to pay NIS 4.3 million betterment tax to redevelop the property.
Sources inform Globes that he is appealing the levy, and if the appeal is rejected, he will consider his options.
Seafront Galei Tchelet Street includes some of Israel’s most luxury homes. In December 2010, Playtech Cyprus Ltd. controlling shareholder Teddy Sagi reportedly paid NIS 135 million for a house on the street. The US, Chinese, Indian, and Austrian ambassadors’ residences are on the street. Past and present residents include Leonid Nevzlin and Prof. Gideon Shamir.