The cost of the project is estimated at NIS 1.4 billion.
By JERUSALEM POST STAFFUpdated: FEBRUARY 16, 2021 18:43A general view of Tel Aviv's skyline is seen through a hotel window in Tel Aviv, Israel May 15, 2017. Picture taken May 15, 2017(photo credit: AMIR COHEN/REUTERS)
East&, a prestigious 75,000 sq.m. mixed-use complex stretching across 6.5 dunams on Tozeret Haaretz Street in Tel Aviv, was recently launched by Blue Square Real Estate, in collaboration with Sufrin Group, Weiss Group, GF Real Estate and Bulthaup Investments.The cost of the project is estimated at NIS 1.4 billion.East& is expected to be the first mixed-use complex (residential, industrial and commercial) in Tel Aviv’s New East. The complex will include 33- and 40-story luxury towers: the northern tower will feature 348 units, while the southern tower will contain 25 floors of businesses and above it, eight floors of premium residences.Both towers will have the ground floor serve as a commercial level combined with a large, well-maintained urban garden, in addition to underground parking and other underground operations. The project will make Tel Aviv completely accessible by foot, as the Ayalon expressway will transform into a tunnel along Menachem Begin Boulevard.The demand for residential and employment east of the Ayalon is believed to be the “next thing” in Tel Aviv real estate, according to Mickey Zissman, managing director of Blue Square Real Estate, the firm financing the project.“The project combines top-notch architectural design with prices that are still considered very attractive in Tel Aviv,” he said, adding that there is a unique pool of entrepreneurs with financial strength and proven execution and marketing capabilities collaborating on East&.Just south of East& is the TOHA project, currently taking up 200,000 sq.m., and the 233,000 sq.m. Tara complex is located west. East of the complex are the Tel Aviv Towers, along with a plot of land on which another residential project will be built with an area of 100,000 sq.m.The prices of the apartments in the complex will range from NIS 35,000-54,000 per square meter. For example, the 2-room apartment, which is 58 sq.m. and has an 8 sq.m. balcony, is currently being offered for NIS 2.2 million, a 3-room apartment of 72 sq.m. with an 8 sq.m. balcony starts at NIS 2.7 million. Starting from the 22nd floor, a 5-room apartment, 125 sq.m. with a 13 sq.m. balcony is going for NIS 4.4 million.The penthouse, on the 40th floor, at 230 sq.m. with a 110 sq.m. balcony, will be offered for NIS 14.5 million.
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