Developer – Kim Lustigman | Architectural Firm – Sandrovitz | Project Location – Smadar 5-3, Ramat Gan. A residential project built as part of urban renewal in the sought-after 'Shikun Vatikim' neighborhood in Ramat Gan. The companies have been working on preparing the project for marketing for over a decade. Over the years, the project progressed significantly, but due to legal reasons, it had to revert and redesign an updated and different construction plan. We have been accompanying Kim Lustigman company throughout the years and are involved in all processes, to bring the project to market.
The Lustigman project in Shikun Vatikim underwent several planning rounds over the years, and its current configuration is precisely tailored to the target audience. After analyzing the environment and the needs of the target audience, we decided to build a project that offers buyers a new and luxurious apartment but with a sense of privacy and space. Consequently, the original plan for a single building with 3 wings evolved into 3 buildings with 2 apartments per floor. We built the apartments with larger-than-average areas for the region. 4-room apartments are approximately 112 sqm with an additional balcony area of about 15 sqm. The same applies to 5-room apartments and special premium apartments.
The project is designed for a diverse audience, including residents from the neighborhood looking to upgrade, and the next generation who wish to stay or return. Additionally, it caters to young couples who want to live as close as possible to Tel Aviv, but also be part of a community and live in a green and quiet environment.
The combination of the project's location in an environment reminiscent of a moshav, adjacent to Yarkon Park and Tel Aviv, together with a high-quality, uncompromising project, both in apartment design and construction standards – allowed us to meet the goal of selling approximately 50% of the project within 4 months, with very limited advertising.
The Lustigman project in Shikun Vatikim underwent several planning rounds over the years, and its current configuration is precisely tailored to the target audience. After analyzing the environment and the needs of the target audience, we decided to build a project that offers buyers a new and luxurious apartment but with a sense of privacy and space. Consequently, the original plan for a single building with 3 wings evolved into 3 buildings with 2 apartments per floor. We built the apartments with larger-than-average areas for the region. 4-room apartments are approximately 112 sqm with an additional balcony area of about 15 sqm. The same applies to 5-room apartments and special premium apartments.
The project is designed for a diverse audience, including residents from the neighborhood looking to upgrade, and the next generation who wish to stay or return. Additionally, it caters to young couples who want to live as close as possible to Tel Aviv, but also be part of a community and live in a green and quiet environment.
The combination of the project's location in an environment reminiscent of a moshav, adjacent to Yarkon Park and Tel Aviv, together with a high-quality, uncompromising project, both in apartment design and construction standards – allowed us to meet the goal of selling approximately 50% of the project within 4 months, with very limited advertising.
One of the challenges in selling the project was enabling buyers to make a registration decision during the first meeting. In fact, we achieved a result where 50% of meetings resulted in a registration, and 50% of those registrations occurred during the first meeting. This was despite launching before a committee decision (approximately 50 months until delivery). Sales were conducted from offices in Herzliya, with limited resources at the project site, which included multiple buildings, orientations, and different models.
Building a database of interested parties during the planning period, creating marketing materials that allow interested parties to understand the project relatively quickly. Advertising commenced only after approximately 40% of the project's apartments were sold, and even then – with relatively limited advertising, primarily to raise awareness of the project's existence.
The process of product adaptation and space maximization included a design change to 3 buildings, 2 apartments per floor (spacious apartments), and an elevation of the standard. Among other things, the duplex apartment design was altered to create 3 different and unique types of penthouse apartments.
