A company representing the US-based Syrian Jewish community has purchased two entire residential towers currently under construction in central Jerusalem, in what is believed to be one of the largest private real estate transactions in Israel’s history. The buyer, OP Jerusalem, is based in Brooklyn, New York, and acquired roughly 200 luxury apartments near Jerusalem’s Mahane Yehuda Market. The apartments will be marketed primarily to members of the Syrian Jewish community living abroad. Hebrew media estimates place the value of the deal at up to NIS 1 billion, or approximately $270 million.
According to Elliot Shelby, OP Jerusalem’s co-head of sales, the goal of the project is to create a communal anchor in Israel for Syrian Jews, many of whom live in Brooklyn and Deal, New Jersey. While the primary focus is the Syrian Jewish community, the project is also being marketed to other Sephardic groups, including Moroccan and Persian Jews, as well as Syrian Jews in Panama and Mexico. Shelby noted that sales are open to all buyers and that roughly a quarter of the apartments have already been purchased by people outside the core community.
The Syrian Jewish community in the United States is estimated at around 100,000 people and is known for its strong internal cohesion, philanthropic culture, and tight-knit social structure. Originating from Jewish communities in Aleppo and Damascus, the group established itself in New York in the early 20th century and has maintained distinct communal institutions alongside broader Jewish and American life. (Read More)
