German-born and US-raised Rosen, whose connection to Israel goes back to his early days and family origins, considers this undertaking one of his most poignant. "The Jaffa has been my longest and most personal project to date," he says. "From the outset, I saw this as a unique opportunity to develop a truly remarkable hotel with residences in the heart of old Jaffa."

For those unfamiliar, Jaffa is said to be the longest continuously inhabited city in the world. It was the launching point of the biblical Jonah-and-the-whale story and has become one of the coolest neighbourhoods in Tel Aviv, buzzing with ultra-hipsters in art studios and gilted gentrification. The Jaffa's apartments, with the largest listed at $60 million, should certainly appeal to the latter.