Africa-Israel launches leasing at 43rd St. icon.Africa-Israel has tapped CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. and Robert K. Futterman to handle retail and office leasing at the former New York Times Building The New York Times Building is a skyscraper on the west side of Midtown Manhattan, New York that was completed in 2007. Its chief tenant is The New York Times Company, publisher of the The New York Times, The Boston Globe, the International Herald Tribune on 43rd Street. The powerhouse development company's $270 million renovation of the 800,000 s/f building it bought earlier this year is on schedule for completion by early fall of 2008, when the first tenants are expected to move in. Just last week, the company began offering 200,000 s/f of prime retail space through Futterman and already several high-end retailers have expressed interest, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a spokesman. The renovation is expected to transform the shoddy complex into one of the premier properties in the area able to command top-flight rents from office tenants seeking a prestigious midtown location. Africa-Israel is also poised to make a major announcement concerning its plans to develop the iconic Clock Tower at 5 Madison Avenue Madison Avenue, celebrated street of Manhattan, borough of New York City. It runs from Madison Square (23d St.) to the Madison Bridge over the Harlem River (138th St.). In the 1940s and 50s, some of the major U.S. , which it purchased from SL Green in May for $200 million. The news is a clear signal from the company, owned by Israeli diamond billionaire, Lev Leviev Lev Avnerovich Leviev (born on July 30, 1956 in Tashkent, Soviet Union) is a Bukharian Jewish (and naturalized Israeli citizen) billionaire[1] with investments in the diamond industry, real estate and chemicals. , that there has been no deviation from its aggressive US expansion as it presses ahead with a plethora of major development projects around the country. Just yesterday (Tuesday) Leviev's strategy of mining for gold in Miami when everyone else appeared to have given up on the Sunshine State netted him a $40 million profit. Africa Israel announced the sale of a 250,000 s/f land parcel in downtown Miami Downtown Miami is the central business district of Miami-Dade County and Miami, Florida. Brickell Avenue/Biscayne Boulevard is the main north-south road in downtown, and Flagler Street is the main east-west road in the Central Business District. , known as Block 42, for $90 million. The sale came following the split between Leviev and his former partner, Shaya Boymelgreen, which left the Tel-Aviv based Leveiv with all of the venture's Miami assets and a lion's share of its New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of projects. The Miami site is located opposite the American Airlines arena, home of the Miami Heat basketball team and a burgeoning retail hotspot where plans are already underway to develop a major cultural and arts center. Rotem Rosen, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Africa-Israel in the US, said the sale was a clear indication that the Miami marketplace is far from dead. "The sale of this land shows the marketplace that Miami is alive and that deals can still be made there. We are committed to doing more business in Miami as we believe in the future of the market," said Rosen. Miami certainly appears to have embraced Leviev, whose luxury condo-hotel development, Marquis--the tallest condominium in Miami--is already 80% sold at prices averaging $800 psf. Africa Israel owns over 20 other land parcels in Miami, all of which the company has stated it intends to build upon. Last month, Miami's Developers & Builders Association honored Leviev as its Developer of the Year. Donald Trump presented the award to Rotem Rosen, who accepted it on Leviev's behalf during a special ceremony at Trump's Mar-a-Largo resort. |
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