Sheldon Adelson may buy US ambassador’s residence for NIS 300m.
The sale of the official residence in Herzliya Pituah would emphasize the permanence of the US embassy's transfer to Jerusalem.
By EVE YOUNGSheldon Adelson, a casino magnate and major backer of pro-Israel causes.(photo credit: REUTERS)
US billionaire and longtime Republican Party donor Sheldon Adelson is in advanced talks to buy the US ambassador’s residence in Herzliya Pituah, Globes reported. If the home sells for the listed price of NIS 300 million, it would be Israel’s most expensive home ever sold.The decision to list the property was made following discussions about the transfer of the US Embassy to Jerusalem.The completion of the sale before US presidential elections in November would prevent a new US administration from relocating the US ambassador back to Herzliya and to the former embassy building in Tel Aviv.This means that the administration is eager to fast track the deal, according to Globes.Adelson, who has an estimated worth of $38.6 billion, contributes substantial sums to Israel and to Jewish causes, and is the largest donor to Yad Vashem. The philanthropist gave $5 million to President Trump’s inaugural committee in 2017, and intends to spend $100m. reelecting the president and other Republicans in 2020.Adelson was often seen visiting the residence during American Independence Day celebrations, and has been suspected of being a potential buyer since the listing of the property was reported.The residence in Herzliya Pituah is in one of Israel’s most exclusive locations. The house is built on 1,000 sq. m. of land and the lot has an additional 5,000 sq.m. of land, 2,000 m. of which does not have building rights.Real estate developer Israel Ya’acov told Globes that the property itself is “neglected” and that “any potential buyer will likely demolish the house and rebuild something new.” He also appraised the property at around NIS 250m.A US Embassy official told Globes that no sale has been finalized and that the State Department does not comment on ongoing real estate proceedings.
