4-Room Penthouse 142 m² + Balcony 120 m² — Neve Hof, Rishon LeZion

Quick Facts

Key Features:

• 120 m² wraparound balcony
• Roof access
• 2 covered parking spaces
• Lift building
• Air conditioning
• Bomb shelter (mamad)

Property Description

This 142 m² penthouse sits atop a 2018-built building on Zalman Shazar Street in Neve Hof — Rishon LeZion’s private coastal enclave. The 120 m² balcony wraps the unit with open-sky exposure, and the property includes roof access. At ₪52,817/m², it is priced at the upper band of the Neve Hof secondhand market (₪28,000–40,000/m²), reflecting the penthouse floor, balcony size, and renovated condition.

The 4-room layout comprises a living room and 3 bedrooms. The unit has 2 full bathrooms and 3 toilets — a practical configuration for family use or hosting. Ceiling height and window details: The 120 m² balcony wraps west and provides amazing sea view. The unit includes a mamad — a safe room built to reinforced shelter standard, mandatory in all residential buildings constructed after 1992. Air conditioning is installed throughout.

The building was completed in 2018, includes a lift, and offers 2 covered parking spaces.

Location Analysis

Transportation

Neve Hof sits in western Rishon LeZion’s coastal zone, west of Highway 20. Moshe Dayan railway station is from Zalman Shazar Street; trains to Tel Aviv HaShalom run in approximately 20–25 minutes. The Green Line light rail is under construction with the Moshe Dayan terminus opening in 2028 — when operational, it will connect Neve Hof directly to central Tel Aviv without a transfer. Bus connections along Moshe Dayan Boulevard and Rechavam Ze’evi Boulevard serve the western zone. Highway 20 access is east; Highway 431 interchange connects to Modi’in and Route 1.

Area Infrastructure

Neve Hof is part of Rishon’s private coastal enclave — the neighborhood is primarily residential with a villa and low-rise character. The Mediterranean coastline is west of Zalman Shazar (the Neve Hof strip sits within the coastal zone described as 5 minutes from the beach). The “1000” Business District in western Rishon is an active employment hub from the property.

Investment Perspective

At ₪52,817/m², this penthouse is priced above the standard Neve Hof secondhand range of ₪28,000–40,000/m² — the premium reflects the penthouse floor, 120 m² balcony, and 2018 construction. The Neve Hof/Pueblo Español coastal enclave recorded an average transaction value of ₪3,880,000–6,700,000 for residential properties per Q4 2024–Q1 2025 data; this unit at ₪7,500,000 sits at the upper end of the range. Citywide, Rishon LeZion’s average price per m² was ₪19,500 in Q1 2025 — this property is 171% above that city average, consistent with the coastal premium zone. Beachfront and coastal properties in Rishon appreciated 13%+ YoY in the year leading into Q1 2025, the strongest performance in the city. The Green Line light rail terminus at Moshe Dayan (2028) is the primary infrastructure catalyst for western Rishon — it will bring direct rail access to central Tel Aviv, a factor that historically narrows the price gap between coastal Rishon and central Tel Aviv (Tel Aviv’s equivalent coastal properties trade at ₪55,000–120,000/m²). Note: Rishon recorded a city-wide price correction of -7.33% YoY in Q2 2025 — one of Israel’s sharpest. The coastal zone showed stronger resilience than the city average, but buyers should factor general market conditions into timing decisions.

Practical Information

Arnona (municipal property tax): estimated ₪14,000–18,000/year for a 142 m² property in Rishon LeZion’s western zone [VERIFY: current Rishon arnona tariff for residential zone].

Mas rehisha (purchase tax): at ₪7,500,000, the applicable rate for a standard buyer (non-owner-occupier purchasing second property) is 8% on the full amount. Olim hadashim — new immigrants purchasing their first property in Israel — qualify for a significantly reduced purchase tax rate; current thresholds should be confirmed with a licensed Israeli lawyer before signing.

Secondary market: no payment schedule applies. Standard purchase process: contract signing → payment per agreed schedule → key handover. Buyers typically arrange a mashkanta (mortgage) in advance; Israeli banks lend to new immigrants, though documentation requirements differ from local buyers — consult a mortgage broker early in the process.

Contact

To schedule a viewing or discuss this penthouse, contact us at +972-50-923-3202 or [email protected].

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