One of Tel Aviv’s oldest districts, Rothschild lies within the White City, the most central part of the city that is known for its Bauhaus-era architecture. Its elegant buildings and cultural, cosmopolitan atmosphere make it the most in-demand area in the Mediterranean city.
The boundaries The streets that make up the borders of Rothschild are King George Street to the west, Allenby Street to the south, Yehuda Ha-Levi Street to the east, Marmorek Street to the north. Rothschild Boulevard curves through the middle, splitting the neighborhood into halves.
Price range
The average price per square meter is ILS 79,243.34 (US$21,791), according to Roni Yahav, of Israel Sotheby’s International Realty.
Rothschild Boulevard is home to a number of deluxe high-rise developments. Properties at The Meier on Rothschild, a 37-story tower completed in 2014, sold for around ILS 79,243.34 (US$21,791) per square meter.
Rothschild One, a 42-story tower, is one of the city’s most exclusive addresses. Completed in 2012, properties sold for about ILS 99,058.72 (US$27,241.08) per square meter.
The building has been compared to One Hyde Park, the enclave for the super-rich in London’s Knightsbridge, as many of the properties have been bought by the global elite.
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Housing stock
The Rothschild district is part of Tel Aviv’s famous White City, a large area of Bauhaus buildings, which was named a UNESCO World Heritage Site in 2003.
Rothschild Boulevard has many of these iconic modernist structures. Some whitewashed cubic buildings have been converted into apartments and hotels, while others remain standalone houses.
The district has condos, converted townhouses and some private villas. "Townhouses typically have two to three stories and have one apartment per floor," Mr. Yahav said. "Apartments are usually 100 to 200 square meters and some are as large as 300 square meters."
"New high-rise condo blocks have swimming pools and porters," said Matthew Bortnick, of Maki Group, a real estate consultancy in Tel Aviv. "But it is not uncommon for older buildings not to have an elevator or off-street parking. Balconies tend to be small also."
Many buildings are built in an "eclectic" style, a term for a mix of different styles, ranging from ornate Oriental and European architecture of the 18th and 19th centuries to Mediterranean style.
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What makes it unique
A residential and commercial quarter, the "Rothschild area is where everyone wants to be," Mr. Bortnick said. "It’s not too touristy, yet it is close to the beach, and it is cultural."
Rothschild Boulevard, the city’s most iconic avenue, runs through the middle of the district. A place to see people and be seen, it has many landmarked Bauhaus-era buildings.
Mr. Yahav said: "It’s close to the city’s center, Carmel market, or Shuk Hacarmel, Israel’s most famous market, and the [artsy] district of Neve Tzedek, which has many great restaurants."
There are many high-end hotels housed in historic 20th-century buildings, he said, and "people get around the neighborhood by bike and on foot, and it is quiet but not isolated."
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Luxe amenities
At the north end of the district lies the Habima National Theatre of Israel, a performing arts center that stages a range of contemporary and classic productions such as "Les Miserables."
It is just a few streets away from Ironi Alef High School of Arts, a famous public high school for arts and sciences. It is the only high school in Tel Aviv that provides full-fledged art programs in music, theater, visual arts, dance and cinema, according to the school’s website.
Rothschild Boulevard has a pedestrian-only green space, which is lined with trees, street cafes, pavilions and park benches. It is also home to high-end boutique hotels. The 65 Hotel and Rothschild Hotel are well known, but the Norman is probably the hippest. The hotel, which opened in 2014, has a rooftop pool as well as a brasserie-style restaurant with a Mediterranean menu, a 1940s-style cocktail bar, and Dinings, a Japanese tapas eatery.
Outdoor dining on Rothschild Boulevard, Tel Aviv
Tali Budlender & Nick Logan / Getty ImagesWhether you want brunch with friends, a quick post-work snack or haute cuisine, Rothschild Boulevard has some of the best places to dine in the city.
Yakimono, a top Japanese restaurant in the lobby of the Tel Aviv Hilton Hotel, has a vast selection of sushi and sashimi, along with dim sum dishes, salads and tepanayki. It also has private dining rooms and a cocktail bar.
Da Da & Da is a Parisian-style brasserie with outdoor seating located on the ground floor of the Institut français de Tel-Aviv.
A casual place with a vibrant atmosphere, Port Said is a popular lunch and dinner spot for the hipster crowd. Offering an array of Israeli dishes, it is a great place for a beer and bite to eat.
Dance to live music and DJs and hang out with hipsters at Kuli Alma, a cool underground bar and club with an outdoor area which has pizza and cocktails.
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Who lives there
Mostly wealthy professionals are found in the Rothschild neighborhood. The area is home to some people with lower incomes, but they will have owned their properties for decades, according to agents.
"Expats feel at home here," Mr. Yahav said. "It’s an international neighborhood. You will hear French and English [with a British accent] being spoken in the cafes and restaurants."
He added: "Buyers in their 50 and 60s are trading big houses outside the city for smaller homes in the district. The convenience of the area is a big part of its appeal. If you want to go see a film or a theater show, you can either grab a taxi or walk."
Notable people
Talmon Marco, an Israeli-American entrepreneur best known as the CEO and founder of the instant messaging app Viber, and his brother Daniel have bought a penthouse apartment in Rothschild 30 residential tower, according to Globes, a financial newspaper in Israel.
The newspaper reported that the 27th floor apartment was bought for ILS 87 million (US$23.9 million), has 1,000 square meters of interior space and includes a 500 square meter balcony.
TMZ reported that Madonna entered into negotiations to buy a $20 million condo on Rothschild Boulevard, but the deal fell through.
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Outlook
"More people are looking to buy and prices are high," Mr. Bortnick said. "Overseas buyers make up a large proportion of the market and they are mainly from France, England, South America and central Europe."
He added: "Prices have risen by 12% to 15% since the last quarter of 2015." (These numbers are based on public data—each deal completed is reported publicly—and sales made through Maki Group.)
"There has been a lot of volatility in prices across all sectors in recent years," said Mr. Yahav. "Everything is expensive, from penthouses to small flats."
"The market has stabilized over the past year," Mr. Yahav said. "I don’t think prices can go any higher than ILS 99,058.72 (US$27,241.08) per square meter. Over the past 10 years, prices have risen by 100%."
He continued: "Regeneration has helped boost its appeal. The government has spent a lot of money improving the look of Rothschild Boulevard over the past 15 to 20 years."
"It has become more upmarket," Mr. Yahav said. "More upscale residential developments have been built and many boutique hotels and restaurants have opened over the past two to three years."