Hadassah continues to divest itself of properties in Jerusalem. The Young Judaea Youth Hostel campus located in the Givat Masua neighborhood has now been sold for $15 million.
The property was sold to a Canadian investor, a Jewish businesswoman and long-time Hadassah member, who intends to continue to manage the guesthouse as a hostel/hotel open to both Israeli and international tourists. The guesthouse includes 5 floors and 129 guest rooms.
According to Hadassah, the decision to sell the youth hostel was made in the fall of 2008, only two years following the completion and dedication of the campus, and prior to the breaking of the Madoff fiasco. The decision is part of Hadassah’s ongoing effort to consolidate Young Judaea properties, programs and services in the Baka neighborhood.
Last week it was announced that the Merkaz Hamagshimim complex in the Emek Refaim area was sold for $9 million.