Over the past decade, a number of prominent Israeli investors have had their ups and downs investing in New York City real estate. Some of these investors who have experienced hardships include Yair Levy, Shaya Boymelgreen and Africa Israel Investments, controlled by Lev Leviev, the company which purchased the former New York Times Building in Times Square. While foreign investors with billions of dollars of capital sit on the sidelines, a few new Israeli investors are testing the Manhattan commercial real estate waters. With prices at record lows, these investors hope to capitalize on the record low prices of property in New York City. Later this month, Israeli company, IDB Holdings, controlled by Nochi Dankner, and partner Joseph Cayre plan to close on the purchase of the HSBC Bank Tower headquarters at 452 Fifth Avenue.
