A new boutique residential project at 32 Geula Street in Tel Aviv has started its pre-sale phase, offering luxury apartments just steps from the Mediterranean Sea. Announced on September 2, 2025, by developer Binyan Ha’Ir, this development in the vibrant Kerem HaTeimanim neighborhood promises intimate living with high-end features and customization options for buyers seeking prime coastal real estate.
Project Details and Location Appeal
The project involves demolishing an old structure and building a new boutique residence with 14 luxury apartments. Sizes range from 45 to 145 square meters, and the design limits units to two or three per floor for a private feel.
Kerem HaTeimanim sits close to the beach, about 300 meters from the shoreline, and 250 meters from a planned metro station. This spot blends urban energy with seaside calm, drawing interest from locals and investors alike.
Recent trends show Tel Aviv’s real estate market booming, with coastal properties seeing high demand. In 2025, average apartment prices in the city have risen by 8 percent, driven by limited supply near the sea.
The building draws from Tel Aviv’s eclectic style, using rounded corners and warm colors while adding modern touches like energy-efficient systems.
Pre-Sale Benefits and Customization Options
Buyers in the pre-sale stage get early access to better prices and full control over their homes. Options include combining units, changing layouts, and picking finishes to match personal tastes.
This flexibility stands out in a market where many projects offer standard designs. Experts note that customized homes can boost resale value by up to 15 percent in Tel Aviv’s competitive scene.
The developer provides extra support, such as legal help, financing advice, and interior design services. All payments go through a secure escrow account backed by Bank Hapoalim, adding buyer protection.
Construction kicks off in January 2026, with move-ins expected by January 2029. This timeline fits broader city plans for better transport and green spaces.
Here are key apartment features buyers can expect:
- High-end kitchens and bathrooms with premium materials
- Sea views in select units for a premium coastal experience
- Smart home tech for lighting and security
- Balconies designed for outdoor relaxation
Unique Parking and Amenities
One standout feature is private non-robotic parking, rare in central Tel Aviv where space is tight. This avoids issues with mechanical systems, offering reliable access for residents.
The project also includes shared amenities like a fitness area and landscaped gardens. These add to the serene lifestyle, especially near the beach promenade.
In comparison to similar developments, this one emphasizes comfort over scale. For instance, nearby projects in Nahalat Binyamin offer larger buildings but less intimacy.
| Feature | Details | Benefits |
|---|---|---|
| Parking | Private, non-mechanical spots | Easy access, no breakdowns |
| Views | Mediterranean Sea from upper floors | Enhanced living quality |
| Customization | Full layout and material choices | Personalized home design |
| Location Perks | 300m to beach, 250m to metro | Convenient urban-seaside life |
| Timeline | Start 2026, occupy 2029 | Planned for market growth |
This table highlights how the project stacks up against standard offerings, based on recent real estate reports.
Developer Background and Market Context
Binyan Ha’Ir, founded in 2014 by engineer Noam Richter and partner David Mckays, focuses on quality seafront homes. Their approach treats each purchase as a unique creation, not a generic buy.
Marketing manager Yuval Bergman stressed personal guidance from start to finish. This hands-on style has built trust in past projects.
Tel Aviv’s market in 2025 faces challenges like rising costs, but luxury segments thrive. A recent Bank of Israel report notes strong investor interest in boutique builds, with pre-sales up 12 percent year-over-year.
Similar projects nearby, like those in Ras El Hekma or Netanya, show a trend toward exclusive coastal living. However, this one’s central location gives it an edge.
Economic Impact and Buyer Considerations
The development could boost the local economy by creating jobs during construction and attracting affluent residents. Kerem HaTeimanim, known for its markets and culture, may see more foot traffic.
For potential buyers, prices start around 8 million NIS for larger units, reflecting premium positioning. Analysts predict values could climb with the metro’s completion.
Buyers should weigh factors like property taxes, which average 2 percent in Tel Aviv, and maintenance fees for boutique buildings.
Recent events, such as the city’s push for sustainable housing, align with this project’s eco-friendly elements. This fits into Israel’s broader 2025 real estate reforms aimed at affordability and quality.
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