Connect with us

Hi, what are you looking for?

Jewish Business News

Real Estate

Lev Leviev’s Africa Israel Sells Jarod Kushner Most of Times Square Building For $295 Million

The building was once known as the New York Times building.

229 W 43rd St Times square

Lev Leviev’s Africa Israel Investments Ltd.’s American division has sold a majority share in its Times Square Building in Manhattan to Jared Kushner for $285 million, Globes has reported.

Kushner now holds a 50.1% stake in the building. Africa Israel reported the transaction to the Tel Aviv Stock Exchange. If Kushner cancels the deal for any reason then he will have to pay the company $12.5 million.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

After paying off loans tied to the asset, Africa Israel will net $35 million.

Located at 229 W 43rd St, the property was previously known as the New York Times building. Built in 1912, it has 18 floors.

From Street Easy:

“229 West 43rd Street, the home of the New York Times Company until 2007, is situated in the heart of Times Square, a world center for business, tourism and entertainment. The building is comprised of 18 floors and several levels of below-grade space, totaling approximately 746, 000 square feet (Floors 16 through 18 consist of the building cupola and space for the building’s mechanical systems).

“The base office floors are 50, 000-60, 000 square feet, the ground floor, basement and sub-basement, which previously housed New York Times Company’s printing facility, are 40, 000-50, 000 square feet each.

“In April of 2001, the Landmarks Preservation Commission (LPC) designated 229 West 43rd Street as a historical and architectural landmark. The New York Times Company has been headquartered at this location since 1913. A full-scale redevelopment of the building is planned once the New York Times Company vacates the building for their new headquarters.”



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

Copyright © 2021 Jewish Business News