Century-old Jerusalem villa sells for $14.7 million as demand for luxury homes persists

A hundred-year-old villa in Jerusalem’s Talbieh neighborhood was sold for $14.7 million recently, according to the agent who brokered the deal, as demand for high-end properties in the capital remains strong.

Villa Catana, located at the corner of Hovevei Zion and Marcus streets opposite the Belgian Consulate, was built in 1926 during the British Mandate for Antonio Catana, a prominent Christian businessman whose family belonged to the local Latin community.

The 450-square-meter (4,844 square-foot) building sits on a corner lot of 578 square meters (6,222 square feet), and was sold at a value of NIS 105,000 per square meter, or $3,355 per square foot, according to Tomer Dowek of Prosperity Real Estate, who managed the sale.

The names of the buyer and seller were not disclosed. It was previously owned by Canadian Jewish philanthropist Charles Bronfman, co-founder of Birthright Israel, who bought it from the Hebrew University in 1987. He later transferred the property to the Karev Foundation that he founded, which promoted educational and cultural initiatives throughout Israel.

The building was later renovated by architects Jeff and Debbie Remez. It stood empty from 2014 until 2022, when it was leased by the Armstrong Institute of Biblical Archaeology.

Sign up for ToI's free

Real Estate Israel newsletter

By signing up, you agree to the terms

Designed in the traditional Liwan style, characteristic of Jerusalem’s aristocratic residences of the early twentieth century, the building features original Jerusalem stonework, wide arched windows, high ceilings and generous interior spaces, and includes a spacious entrance garden and the original balconies, Dowek said.

“It is a great privilege for us to accompany these types of transactions, where history, architecture and exceptional real estate come together,” Dowek said. “Properties of this nature rarely change hands, and they represent far more than real estate alone.”

The deal is one of several high-profile acquisitions of luxury properties in Jerusalem in recent years. Last summer, philanthropist Michael Steinhardt, who co-founded Birthright Israel together with Bronfman, sold a 650-square-meter (6,996 square feet) home right next door to Villa Catana for $21 million.

Real estate experts say demand for luxury homes in Israel has been rising in recent years, largely due to the effect of rising antisemitism following the October 7, 2023, attack by Hamas, on foreign buyers. While wealthy buyers formerly sought vacation rentals for investments, they now increasingly seek homes where they can live with their families at the same level of comfort as they enjoy abroad, real estate agents note.

“We continue to see consistent interest in unique properties with historical significance and exceptional locations in Jerusalem,” Dowek said. “For many buyers, both from Israel and from the Jewish Diaspora, this is not merely the purchase of a property, but also a meaningful connection to Jerusalem, its history and its unique place in the Jewish world.”