Billionaire Roman Abramovich is said to have acquired The Varsano luxury boutique hotel property, nestled within the trendy historical neighborhood of Neve Tzedek in Tel Aviv, Israel.

Abramovich has reportedly paid NIS 100 million for the property, which he is expected to turn into his Israeli home, according to Globes.

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The development of the Varsano boutique hotel was the vision of its two owners, brothers Guy and Yaron Varsano, as a result of their passion for Neve Tzedek. The property is surrounded by quaint shops, cafes, restaurants, galleries and nightlife, not far from Old Jaffa, downtown Tel Aviv and the beach. The property exudes a Mediterranean spirit, as well as the vibrancy of an urban oasis.

[youtube http://www.youtube.com/watch?v=KetaNsmMVoY?list=PLk3tL9beKyZDeF6grJStXbNhitDDniYmX]

Neve Tzedek, located in southwestern Tel Aviv, was the first Jewish neighborhood to be built outside the walls of the ancient port of Jaffa. Since the early 80s, Neve Tzedek has become one of Tel Aviv’s most fashionable and expensive districts, with a village-like atmosphere.

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