Aviv Tower in Ramat Gan
Gaydamak bids for Elite compound
Businessman negotiating purchase of intended Trump tower location in Ramat Gan
Arcadi Gaydamak is negotiating the purchase of the Elite compound in Ramat Gan, Yedioth Ahronot revealed Monday.
The compound is located just across from the Moshe Aviv Tower, which was built by the Aviv Ocif Group and is considered the tallest skyscraper in the Middle East; the tower is also owned by Gaydamak.
The old Elite compound was recently acquired by Donald Trump and Sunny Kahn for an estimated $40 million. The two plan to use the location for a 70-floor apartment building.
The Ramat Gan municipality planned to use the land – prior to the Trump-Kahn purchase – to build a second skyscraper, a twin to the Moshe Aviv Tower.
The compound has been on the market for the past three months with bids reaching $80 million.
This real estate deal is particularly attractive for Gaydamak: the new location is ideal both because it already carries the Trump name and because a second, luxury apartments, tower is a natural extension to the 64-floor office building which stands across.
Should the Trump deal materialize, it would be Ocif's first substantial real estate deal since Gaydamak bought the company.
The Elite compound in Ramat Gan houses the company's old chocolate factory, considered an historic site. The factory is to be turned into a chocolate museum, with the building towering over it.
Gaydamak's representatives were unavailable for comment.
