JERUSALEM — A Jewish community from the United States has acquired two residential high-rise buildings in the center of Jerusalem, finalizing a real estate deal estimated at more than $270 million, according to N12 News.
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The purchase includes roughly 200 apartments and is considered highly unusual in scale, involving families tied to a single community rather than a conventional real-estate investment group. The transaction was reported by Israel’s Channel 12 and comes at a time when Israel’s housing market has been grappling with reduced demand.
“This is an extraordinary deal by any standard,” said Nir Shmul, CEO of Shnir Real Estate Marketing. “In terms of volume and value, we haven’t seen a residential transaction like this before. It clearly exceeds $270 million.”
Shmul said the buyers coordinated collectively to maintain communal cohesion, though many are not expected to move to Israel immediately. Some families have children serving in the Israeli military or enrolled in Israeli academic institutions, he noted.
The acquisition is being interpreted by analysts as part of a broader trend tied to rising antisemitism overseas, prompting Jewish communities to secure housing options in Israel. Developers say the deal provides a rare dose of optimism amid a prolonged slowdown in residential sales.
At the same time, housing advocates have voiced concern that large purchases by foreign buyers could lead to under-occupied buildings in central Jerusalem. Others argue the apartments could bolster the rental market and eventually influence government policy on taxation for overseas property owners.
The towers are located in a central urban corridor and were constructed as part of a large-scale redevelopment project.