Architect Richard Meier is stamping downtown Tel Aviv with another luxury landmark, “Meier on Rothschild,” a mix-use residential, commercial and office complex towering 39-stories over Tel Aviv’s White City. Located on Rothschild Boulevard, the tower is Meier’s  modern take on Bauhaus architecture that characterizes the city, where two- and three-story buildings defined by minimalist and functional architecture and marked by smooth white curved exteriors are common.

Meier on Rothschild was first proposed in 2005, drawing initial opposition from locals. It was a year after Meier on Rothschild broke ground in 2010 when Rothschild, becoming a new home to an array of chic residential towers, was home to a different crowd less accepting of the tower. In the summer of 2011 social justice protesters pitched dozens of tents on the boulevard demanding for affordable housing, underscoring the rising residential developments on Rothschild that cater to wealthy foreigners.

The tower’s 147 residential units range in size up to 8,450 square feet and feature ten-foot ceilings and up to 540 square feet of outdoor space offering panoramic views of the Mediterranean and Jaffa. The tower also includes a spa and a trendy rooftop deck with two pools, a hot tub, lounge chairs and a wine cellar. Meier said the building is “focusing on materials that are light, elegant, and transparent,” to exploit Israel’s sunlight.

Prices vary from $1,100 to $1,700 per square foot, with the penthouse priced at $3,000 per square foot for a total of $50 million, making it the most expensive residence in Israel.

Meier on Rothschild is currently halfway completed and is expected to be finished in early 2014.