Leviev planning to buy another Manhattan tower

Africa Israel is continuing to expand its real-estate portfolio in the United States. After purchasing the New York Times tower and the Apthorp building for a total sum of approximately $1 billion, the company is now in advanced negotiations to purchase another famous Manhattan tower.

Yedioth Ahronoth has learned that the company, owned by Israeli billionaire Lev Leviev, is planning to buy the Clock Tower located near Times Square. Africa Israel is one of the final contenders to buy the building.

Another company competing for the tender is the Elad Group, owned by Israeli business mogul Yitzhak Tshuva, but its offer is lower than that of Africa Israel.

The building is expected to be sold for approximately $200 million. At the moment the tower is empty.

Africa Israel is expected to make its initial public offering for its real-estate portfolio in the United States in 2008.