Daniel Tower: a French entrepreneur pays NIS 119M for two floors facing the sea
Floors 14 and 16 of the Daniel Tower, at 7 Hayarkon Street, were bought for NIS 119M by a French entrepreneur living in Paris. The tower lists NIS 90,000 to 120,000 per sqm: on Tel Aviv's seafront, foreign buyers do not haggle.
This is the transaction the whole luxury market is talking about this week: a French entrepreneur, living in Paris, bought floors 14 and 16 of the Daniel Tower, at 7 Hayarkon Street, on Tel Aviv's seafront, for NIS 119M. The information, reported on November 4, 2026, confirms what professionals have observed for months: French and foreign demand for Tel Aviv's most prestigious addresses is not weakening, even when the domestic market is slowing.
The purchase in figures
| Item | Value |
|---|---|
| Building | Daniel Tower, 7 Hayarkon Street, Tel Aviv |
| Buyer | a French entrepreneur living in Paris |
| Properties | floors 14 and 16 |
| Price | NIS 119M |
| Price range in the tower | NIS 90,000 to 120,000 per sqm |
Two whole floors, in a seafront tower, at a price level that places the operation at the very top of the Israeli market. The range in the building — NIS 90,000 to 120,000 per sqm — tells the story: values comparable to the most expensive addresses in major capitals.
The seafront, a safe haven for foreign buyers
Hayarkon Street runs along the seaside promenade, facing the beach. For a Paris-based buyer, this type of property ticks all the boxes of the wish list of buyers from abroad: an identifiable and prestigious address, sea view, possible remote management, and an asset in a city whose prime market is fed, as shown by the leases signed this week at the ToHa 2 tower, by corporate demand that does not depend solely on the local market.
This buying profile — prestige second home, family pied-à-terre or long-term store of wealth — rides through cycles. When the domestic market negotiates its prices down, the seafront segment plays its own tune, driven by an international clientele for whom the exchange rate and the sense of security count as much as the price per sqm. This is also confirmed by our records of real transactions of the week: the price correction first affects ordinary segments, much less rare addresses.
Buying two floors, and not a single apartment, also says something about the intended use: an exceptional amount of space, combining reception and family life, that cannot be recreated by buying two separate properties. This type of configuration is rare by nature — a tower has only a limited number of floors, and owners of whole floors rarely part with them. It is this rarity, more than the market cycle, that sets the price. The foreign buyer targeting this segment must therefore judge differently: less on the market's 'right moment', more on the property's real availability and the asset's quality — floor, orientation, view, condition of the tower and its common areas.
What a non-resident must anticipate: mas rechisha
Buying from France is not just about the listed price. For a non-resident, purchase tax (mas rechisha) applies at the so-called 'additional home' scale from the first shekel: 8% up to around NIS 6,055,070, then 10% beyond, to be validated according to the buyer's exact profile.
On a NIS 119M acquisition, a purely illustrative calculation on this basis gives a tax of around NIS 11.8M — an amount which, on its own, exceeds the price of most apartments. This shows how tax structuring is an integral part of the negotiation: it is prepared before signing, with a tax lawyer, not at the time of declaration. Our guide on mas rechisha details the scale, and the taxes and fees simulator lets you estimate the full cost of an acquisition according to your situation.
Buying in Tel Aviv from abroad: the right reflexes
Beyond taxation, three points distinguish successful acquisitions in this segment. Verification of the property first: in a tower, the condition of the common areas, service charges and any building works approved by the owners' association weigh directly on value. Next, the purchase structure: holding in one's own name or via a company, with different tax consequences in Israel and in France. Finally, financing: a non-resident does not obtain the same conditions as a resident, and the euro-shekel exchange rate is part of the real price paid.
There is also a point often underestimated from abroad: remote management. A property of this standing requires reliable local management — maintenance, service charges, possibly renting it out during the owner's absences, with the tax rules attached. Buyers who succeed in these acquisitions are those who organize all of this before the deed, not after: a lawyer on site, an identified manager, and a realistic presence schedule. This is what separates a trouble-free purchase from a prestigious asset turned into a source of permanent friction.
Conclusion: a signal, not a generality
The purchase of floors 14 and 16 of the Daniel Tower does not say the whole market is rising — our other articles of the week show the opposite on new stock and ordinary transactions. It says something more precise: on the rarest segment of Tel Aviv, foreign demand, and particularly French demand, is still there — and still able to pay. For the buyer from abroad, the question is therefore not whether the market is 'high' or 'low', but whether the targeted property is one whose price is negotiated... or one that is paid in full.
Are you considering a purchase in Tel Aviv from France? First have the full project costed, purchase tax included.
Sources
- Globes — A French entrepreneur buys floors 14 and 16 of the Daniel Tower for NIS 119M (04/11/2026)
Sources
- Source 1
