Weekly News Recap for June 6, 2013

CAD$25 million Penthouse at Fairmont Residences Pacific Rim Shatters Vancouver Price Records

Over half of Ritz Carlton Residences Bangkok Buyers Call the Middle East Home

Penthouse at the Residences at the W Tel Aviv-Jaffa Listed for $12.5 milion

Theory Founder Andrew Rosen Pays Over $3400/square foot for Condo at The Setai South Beach

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Dream Team Launches W Residences in Tel Aviv

Just launched for sales, The Residences at W Tel Aviv-Jaffa is one Israel’s most exciting new development projects, backed by a true “dream team” including a top-notch developer, world-class designers and globally-recognized hotel brand. Developer RFR Holding is long known as one of the most prolific in both the US and Germany, not least for the incorporation of high quality design and art into its properties, which include Lever House, The Seagram Building and the Gramercy Park Hotel in New York, W South Beach in Miami, and Bienenkorbhaus in Frankfurt.

Located at Yefet and Louis Pasteur in the heart of the historic and vibrant Old Jaffa district, the new W hotel and residences occupy the site of the former French Hospital, one of Jaffa’s iconic landmarks. The original structure will be complimented by a new wing with local architect Ramy Gill, who is the leading authority on Jaffa’s architectural history. Inside, the residences are designed by global tastemaker John Pawson, who worked with RFR on 50 Gramercy Park North adjacent to the Gramercy Park Hotel, as well as the new Residences at the Miami Beach Edition, among other high-quality modern projects. The residences range from one- to four-bedroom layouts, and are offered unfurnished or fully furnished at the option of the buyer.

The W brand is also a strong addition to the team, given Tel Aviv’s legendary “dusk-till-dawn” nightlife. However, the owners of the 38 residences will have an entirely separate entry, ensuring privacy from hotel guests. Of course, residents have full access and VIP privileges at the new restaurant in a dramatic arched loggia setting, beach club, swimming pool with cabanas, spa, as well as W’s Whatever/Whenever Concierge Service.

Scheduled for completion in Spring 2015, The Residences at W Tel Aviv-Jaffa join other hotel-residential projects that have started sales recently, including The Private Residences at Waldorf Astoria Jerusalem and The Residences at The Ritz-Carlton, Herzliya.