One of the newer neighborhoods in Tel Aviv, Park Tzameret is an exclusive island-like oasis in the busiest part of the boisterous, highly populated Israeli city.
In the east-central side of the city, Park Tzameret was a rather ordinary, overlooked area defined by intersecting highways that became a go-to destination for the glitterati after it was developed and rebranded as a luxury-living community a decade ago.
“This created demand from celebrities and people from the entertainment, fashion and business worlds and turned the area into one of the most popular spots in Israel right now,” said David Bibian, founder and CEO of the Bibian Group Corp. Israel Real Estate. While Park Tzameret doesn’t have the historic character of other areas of Tel Aviv, such as Kerem HaTeimanim or Lev Tel Aviv, he said, “it is clean and high end.”
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Boundaries
Park Tzameret is the northern section of Tzamarot Ayalon, the country’s wealthiest neighborhood. It is bounded by HaRav Shlomo Goren Street on the north, Jabotinsky Street on the south, Derech Namir Street on the west and Pinkhas Sapir Street on the east. The east and west boundaries are protected by nearly 15-foot-high acoustic barriers.
Price Range
“The average price is 51,000 shekels (nearly US$15,000) per square meter,” Mr. Bibian said. “For two bedrooms, you’ll pay around 3.9 million shekels (US$1.12 million) and for three bedrooms, the price tag is 5.7 million shekels (US$1.64 million).”
He adds that since the amenities are high end—the buildings have swimming pools, parking, doormen and balconies—the vaad or common charges are high in comparison to other developments in the country.
In Park Tzameret, the average monthly rate, per square meter, is 2,000 shekels (US$576.63); in other areas of the city, it’s about 700 to 1,200 shekels (US$201.82 to US$345.98), Mr. Bibian said.
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Housing Stock
The 32-acre Park Tzameret consists of a dozen luxury high-rise condo buildings with fewer than 1,800 units and some 65,000 square feet of commercial and public buildings. The oldest of the buildings were built a decade ago.
YOO Towers 1 and 2 (2007), which was designed by Philippe Starck, W Boutique (2013), W Prime (2012) and One Tower (2008) are among the more desirable buildings, said Tamar Ben-David, an agent with the Real Estate Professional Team at Israel Sotheby’s International Realty.
“All of the towers feature luxury amenities, including 24/7 security, indoor gyms and underground parking,” Ms. Ben-David said, adding that most of them also have swimming pools.
Exterior view of Yoo Towers, which was designed by Philippe Starck.
Gilad Porat
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What Makes It Unique
“Park Tzameret is new and well-maintained,” said Gil Sabo, an agent also with Israel Sotheby’s International Realty. “It’s beautifully surrounded by green landscape, and it’s conveniently located, with access to all major highways leading to and from Tel Aviv.”
Most of the apartments have views of the Mediterranean and the Tel Aviv skyline, Mr. Bibian said. Its celebrity cachet and gated, safe environment have also made it a popular neighborhood for wealthy individuals.
Shahar Tal, operating principal of Keller Williams Tel Aviv, said that the fact that Park Tzameret “was built from scratch as a new neighborhood” is one of its main attractions because “most of the city is being built as patches of new on old.”
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Luxury Amenities
One of the most famous restaurants is Reviva and Celia, a bistro that’s open on the Sabbath.
Another establishment that’s popular is Blue Rooster, which holds “chef events” that are like private parties and is as well known for its décor—a garden in the ceiling, a collection of rooster dolls from around the world, and floors that are paved with pumpkins and other produce —as it is for its locally sourced menu. For national and international luxury brands and fine dining, residents head to G Zameret Boutique Mall.
The neighborhood has its own dog park, and it is about 10 minutes from the beach and is within walking distance of Hayarkon Park, which Mr. Bibian calls “the Central Park of Tel Aviv.”
Hayarkon Park, which has open lawns and landscaped gardens, offers a variety of sports, including miniature golf.
The Park Tzameret buildings provide a variety of resort-style amenities, and residents may also join the nearby Dekel Country Club, which has two swimming pools, a green space, wet and dry saunas, a squash court, tennis courts, a fitness center, and golf, basketball, volleyball and soccer.
“There are many jogging trails, bicycle trails and small gardens in the neighborhood,” Mr. Tal said.
Residents send their children to Park Tzamarot, a public middle school in the neighborhood. Bavli-Yerushalmi Elementary School and Ironi Yud Alef High School are within walking distance of Park Tzameret.
“Private schools are not common in Israel, as almost all public schools are high ranking and provide good to excellent education,” Mr. Bibian said.
Marc Chagall College, a French-language international school that is about six kilometers away in Neve Tzedek, enrolls students from ages 3 to 15.
Other options include Ironi Alef High School, which is three kilometers from Park Tzameret, and the top-rated A.D. Gordon Elementary School, which is six kilometers away.
Who Lives There
Upper-class, high-net-worth individuals, judges, politicians, models, actors and musicians are attracted to Park Tzameret, Mr. Sabo said.
Many of the residents, according to Mr. Tal, are well-to-do young people, who are in fields such as tech, and older people whose children are grown. “It is not,” he adds, “a family-oriented neighborhood.”
There also are a number of Jewish investors from around the world who have bought properties in Park Tzameret, he said.
Notable Residents
Former Mossad Chief Meir Dagan and former Gen. Moshe Kaplinsky live in W Tower, according to published reports. So does Arsenal midfielder and Israel national team captain Yossi Benayoun, according to published reports.
Outlook
Although prices in Park Tzameret have declined in recent years from around US$17,250 to US$14,000 per square meter, Mr. Tal said that “we are foreseeing that they shall rise again to the previous pricing in the near future because of the lack of inventory of luxurious high rises and the cost to build new ones.”
For more than 14 years, including during the pandemic, the Tel Aviv real estate market has been “thriving,” according to Mr. Bibian, who, too, is optimistic about Park Tzameret’s property values.
“Tel Aviv was just voted the most expensive city in the world to live in,” Mr. Bibian said. “Israel’s economy continues to grow, which provides stronger buying power for Israeli citizens. At the same time, there has been an increase of foreign investment in various sectors such as tech and real estate.”
He added that “it’s a seller’s market, however, buyers will definitely keep sellers honest on price. At the higher-end luxury market, it is very balanced.”
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Credit: marketwatch.com