**RFR Sells The Jaffa Hotel in Tel Aviv for Record $1 Million Per Key**
RFR, a New York-based real estate investment and development firm, has closed the sale of The Jaffa, a 120-room luxury hotel located in the Jaffa waterfront district of Tel Aviv. The buyer has not been publicly disclosed.
The property was sold for $123 million, amounting to approximately $1 million per key — a record-breaking price for a hotel transaction in Israel. Developed by RFR, The Jaffa has played a pivotal role in the transformation of the historic Jaffa neighborhood into one of Tel Aviv’s most desirable destinations for both tourism and upscale living.
“The Jaffa has been a uniquely personal experience and accomplishment for me as the developer,” said Aby Rosen, co-founder and principal of RFR. “Through a lengthy, complex design and development process that brought together an outstanding professional team, we created a property that responds perfectly to its surroundings, respecting the long and fascinating history of Jaffa while providing visitors and residence owners with a unique luxury lifestyle experience.”
RFR originally acquired the site in 2006. The development was undertaken in collaboration with renowned British architect John Pawson and Israeli preservation architect Ramy Gill, with a focus on blending historic preservation with modern luxury and design.
With this significant sale, RFR not only sets a benchmark in Israel’s hospitality market but also exemplifies the potential of meticulous, design-forward development in heritage-rich urban locations.
