Ampal announces conversion of 800 Second Avenue to office condominium, closing of partial sale to the Government of Israel.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 , New York--(BUSINESS WIRE)--February 3, 1997-- Ampal-American Israel Corporation (AMEX AMEX See: American Stock Exchange :AIS.A) announced today that 800 Second Avenue, a 290,000 square foot, 18 story office building owned by a subsidiary of Ampal has been converted to an office condominium condominium In modern property law, individual ownership of one dwelling unit within a multidwelling building. Unit owners have undivided ownership interest in the land and those portions of the building shared in common. . Immediately following the conversion, on January 31, 1997, the previously announced sale of floors 10 through 18 of the building to the Government of Israel was closed. The purchase price was $31 million. Ampal and its subsidiaries acquire interests in businesses located in the State of Israel or that are Israel-related. An important objective of Ampal is to make investments in companies which take advantage of growth in Israel's domestic economy. Ampal and its subsidiaries have diversified diversified (di·verˑ·s interests in the following sectors: hotels and leisure-time, real estate, finance, energy distribution, basic industry, high technology and communications, as well as others. CONTACT: Morgen-Walke Associates Inc. Stan Froelich, 212/850-5657 (Media) or Cindy Hintelmann, 212/850-5621 (Investor Relations Investor relations The process by which the corporation communicates with its investors. ) |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion