NY skyline
Haredi tycoon sells 2 NY skyscrapers
Real estate developer Shaya Boymelgreen to pay back debts to Lev Leviev out of profits from sale of two towers in downtown New York City for USD 150 million
Over the weekend haredi real estate tycoon Shaya Boymelgreen sold two towers in New York City, raking in a total of USD 150 million from the deals.
A portion of the sum will serve Boymelgreen to pay back his USD 110 million debt to Lev Leviev, who heads the international holding and investment company Africa Israel.
Among the property sold was one of Boymelgreen’s own private assets, an apartment building in Manhattan comprising 172 residential units.
Boymelgreen purchased the skyscraper 16 months ago for USD 35 million, and sold it for double that sum – USD 70 million.
The second building sold in the deal was held jointly with Africa-Israel. The high-rise is located on Wall Street next to the stock exchange, which will be transformed from offices into apartments. This building was also purchased by Boymelgreen 16 months ago for USD 210 million and was sold for USD 325 million.
Over the weekend Africa-Israel and Boymelgreen reported the completion of deals on two luxury towers on Wall Street. One of the towers, designed by Phillip Starck, reached USD 320 million, and the other was sold for USD 400 million.
