The Jerusalem Post

Small Tel Aviv street kiosk gets NIS 12,500 monthly rent

- • Globes correspond­ent

An auction for a tiny commercial area in central Tel Aviv illustrate­s once more how every square meter in the city is like gold.

According to the results of an auction held by the Tel Aviv Municipali­ty that have reached Globes, a six-squaremete­r kiosk at 31 Rothschild Boulevard was rented for NIS 12,500 a month, or NIS 2,083 per sq.m. The kiosk is in the middle of the boulevard at the corner of Allenby Street and is owned by the municipali­ty.

Despite the high price, there were no fewer than six bids. The auction closed at the end of last November, but it took several months to decide the winner. The Tel Aviv Municipali­ty confirmed the figures and said possession of the property had recently been transferre­d.

The auction was won by real-estate developer Gil Ben-Or. The bids ranged from NIS 5,100 a month to NIS 15,600 a month. Some of the bidders did not meet the auction criteria, and even though there were bids higher by more than NIS 3,000, Ben-Or’s bid was eventually selected.

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