Lumenis CEO wants to pay reduced tax on two apartments she purchased in Tel Aviv for NIS 22.4 million
Lumenis CEO Tzipi Ozer-Armon purchased two apartments in Tel Aviv's old north for NIS 22.5 million in cash. She claims the apartments are uninhabitable and plans to demolish the old building and build a new one, requesting a reduced purchase tax of only 5%. The Tax Authority rejected the request, ruling the apartments are residential and she must pay full tax. Ozer-Armon is expected to appeal to court.
Tzipi Ozer-Armon, CEO of medical device company Lumenis and a director at ICL, purchased two apartments in an old building on Frankfurt Street in Tel Aviv's old north for NIS 22.5 million in cash. The apartments were bought in April 2025 from Gideon Federman, chairman of the Dan Hotel chain, and his wife Rona. The purchase includes a ground-floor apartment of 102 square meters for NIS 6.75 million, and a second-floor apartment of 104 square meters with an attached 111-square-meter roof for NIS 15.75 million. Ozer-Armon claims the apartments are uninhabitable, the building is slated for demolition, and she intends to build a new six-story building over two basement floors, requesting a reduced purchase tax of 5% (about NIS 1.1 million) as if purchasing land with a building permit. The Tax Authority rejected the request in December 2025, ruling the apartments are residential and she must pay full tax at 8%-10%, a gap estimated at about NIS 1 million. The authority reasoned that the building has not yet been demolished, demolition work has not begun, and the building permit in the sellers' name expires in March 2026 and is non-transferable. Ozer-Armon is expected to appeal the authority's decision to court.