Lev Leviev Nets $35 Million in Manhattan Deal



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    Lev Leviev Nets $35 Million in Manhattan Deal

    Africa Israel Investments Ltd. (TASE:AFIL), controlled by Lev Leviev, has reported to the Tel Aviv Stock Exchange (TASE) that it has sold its 50.1% stake in the Times Square Building in Manhattan, New York City for $295 million • Full Article

    Globes

    Africa Israel Investments Ltd. (TASE:AFIL), controlled by Lev Leviev, has reported to the Tel Aviv Stock Exchange (TASE) that it has sold its 50.1% stake in the Times Square Building in Manhattan, New York City for $295 million.

    The buyer is Jared Kushner (Donald Trump’s son-in-law), and he has transferred a deposit to Africa Israel pending completion of the deal. If the deal is cancelled for whatever reason then Africa Israel will receive $12.5 million. The buyer is entitled to delay completion of the deal for two periods of 45 days, with $1.25 million to be paid as a penalty for invoking each period of delay.

    After the deal is completed, Africa Israel will receive a net $35 million after loans are repaid. The capital gains that the company will report in its financial statement will be immaterial.

    1617

    1. Crown heights Resident

      Levi Leviev deserves it
      because he gives a lot of Tzedokah

    2. Mordy #2

      For those who aren’t aware Kushner (and his wife, Trump’s daughter) is Shomer Shabbos. Es zol zein b’hatzlacha.

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    Lev Leviev Nets $35 Million in Manhattan Deal



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