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On the sign:
סמל העיר תל אביב עיריית תל אביב יפו
במקום הזה עמד הבית האדום בניין מועצת פועלי תל--אביב, ששימש מגדלור לספינות ההעפלה, שחתרו אל החוף. במלחמת העצמאות שכן בו הפיקוד העליון של "ההגנה". צבא המדינה שבדרך. שניהל את המלחמה בראשות דוד בן גוריון.
סמל העיר תל אביב סמל ההגנה
The Red House that stood on this site served as a lighthouse for ships carrying illegal immigrants. During the War of Independence, it was home to the High Command of the Hagana and is where David Ben-Gurion managed the wartime military operations.
The sign is rectangular but its head is designed according to the emblem of the city of Tel Aviv
In the next photo taken on the same day by the same photographer, you can see the entire sign and another sign indicating the "Labor Battalion" Click for sign's details in the background Tel Aviv beach Click for a larger image
The signs are near the "Sheraton" hotel, the place where the "Red House" was. The hotel was photographed on the same day by the same photographer Click for a larger image
Another sign is at the entrance of the "Sheraton" hotel and indicates "The Red House" Click for sign's details
Translation of the text on the sign: The emblem of the city of Tel Aviv Tel Aviv Jaffa municipality
The emblem of the city of Tel Aviv The emblem of the Haganah organization
The rest of the Hebrew text is translated to English on the sign