Roman Abramovich Acquires $64.5 million Home In Israel

This article was published on: 06/1/20 9:42 PM

Roman Abramovich

Russian billionaire Roman Abramovich has acquired a $64.5 million property in Herzliya Pituah, an affluent beachfront neighborhood in the western part of the city of Herzliya, Israel, in the Tel Aviv District.

According to a report by Globes, Abramovich concluded the deal – Israel’s most expensive-ever residential real estate sale – just before the coronavirus crisis.

Abramovich’s property covers 9,500 square meters and is bounded by Hanassi Ben Zvi Street, Shlomo Hamelekh Street and Basel Street. The property includes a tennis court, and swimming pool on a hydraulic platform that can be converted into a guest area for events. The house’s basement includes workstations for 10 computers and there is also an entrance to the house from Shlomo Hamelekh Street.

The main part of the property is a house previously owned by British hedge fund manager Alan Howard, cofounder of Brevan Howard Asset Management. He bought the home in 2006 from Lenny Recanati for $9 million.

Howard apparently spent a large sum in improving the property, expanding the lot from 6,500 square meters to 9,500 square meters and constructing two imposing buildings designed by architect Orly Shrem. The smaller part of the property is a 1,000 square meter guesthouse situated at 93 Hanassi Ben Zvi Street and the larger, main property is a 2,000 square meter house next door at 95 Hanassi Ben Zvi Street.

Apparently, the Chelsea billionaire’s new property was for sale for two years for $100 million but no one showed interest. In 2019, Abramovich rented the property with an option to buy. At the end of January the purchase deal for the property was signed. Although it does not yet appear on the Israel Tax Authority website, the Israel Land Registry does have a warning note in its forms that the four lots comprising the property are to be in Abramovich’s name.

 

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