Sapir Organization’s Tamir Sapir dies

Soviet émigré counted Trump Soho, 11 Madison and Mondrian Soho among company's holdings

TRD New York /
Sep.September 29, 2014 08:00 AM

Tamir Sapir, a Soviet émigré who made his fortune bartering fertilizer and oil in the 1980s and invested in New York City commercial real estate during the recession of the early 1990s — founder of the Sapir Organization — died Friday.

A funeral service for Sapir, who had been in ill health for several years, was held Sunday at Riverside Memorial Chapel. His son Alex Sapir, appointed president and chairman of the family firm in 2006, has long been its public face.

Sapir immigrated to Israel from Tbilisi, Georgia in 1973 at the age of 26, and later settled in Louisville, Ky. and worked as a bus driver. He then relocated to New York, where he reportedly borrowed against his taxi medallion there to get his businesses off the ground.

He founded Zar Realty Management in 1993, buying distressed assets and upgrading them into lucrative commercial properties.

The Sapir Organization counts the controversial 26-story Trump Soho condo-hotel at 246 Spring Street among its major projects, and purchased the Mondrian Soho Hotel, formerly part of the Morgans Hotel Group, for $205 million in June. — Julie Strickland


Related Article

arrow_forward_ios
From left: Rotem Rosen, Zina Sapir, Tamir Sapir, Bella Sapir, Elena Sapir, and Alex Sapir (Credit: Getty Images)

Alex Sapir accused of mismanaging family fortune amid feud with Rotem Rosen

Rotem Rosen and Alex Sapir with 11 Madison Avenue (Credit: iStock and Google Maps)

Rotem Rosen seeks $103M from Tamir Sapir’s estate

Elena Sapir and Trump Tower at 725 5th Avenue

Tamir Sapir’s widow sells Trump Tower pad

Alex Sapir and 218 Madison Avenue (Credit: Getty Images)Alex Sapir and 218 Madison Avenue (Credit: Getty Images)

With sights set on Miami, Sapir looks to sell NYC dev site

Alex Sapir borrows from father’s estate to pay off Israeli bonds

Hanes takes another floor at Sapir’s
260 Madison

All in the family: Alex Sapir turns to relatives to complete Surfside development

Sapir Organization lands $115M refi for NoMo hotel

arrow_forward_ios