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Yair Levy

Principal
YL Real Estate

Yair Levy is the principal of YL Real Estate. He is one of the few developers ever banned from conducting real estate deals in New York State. He also lost many of his projects to foreclosure during the financial crisis.

Levy immigrated to the U.S. from Israel. Before getting into the real estate business, he worked in the clothing industry in Israel and in New York.

The ban on developing cooperatives and condominiums stems from Levys botched attempt to convert a rental building at 225 Rector Street into a condominium. Levy defaulted on the loan he took to acquire the property and was convicted of defrauded buyers and tenants by emptying the condos reserve fund for personal gain.

He was a partner the project to convert the Sheffield at 322 West 57th Street into condominiums. As financial troubles mounted, Levy hit Sheffield business partner Kent Swig in the head with an ice bucket during a contentious 2008 meeting. He was charged with misdemeanor assault and criminal possession of a weapon.

Levy is married to Sosana Levy, and has two daughters, Raphael and Galit.

-TA

  • Event Sales
  • Address 620 Sixth Avenue
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 700,000
  • Price $ 500,000,000
  • Price per foot $ 714.29
notes
The sale of the office and retail building closed for $500 million.
  • Event Sales
  • Address 155 Spring Street
  • Neighborhood Soho
  • Borough Manhattan
  • Square feet 43,750
  • Price $ 33,000,000
  • Price per foot $ 754.29
notes
The building, whose tenants include Liz Claiborne, sold for $33 million. Bonjour Capital funded the deal. Offices on the upper floors will be converted to condos after the leases run out.
  • Event Sales
  • Address 620 Sixth Avenue
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 670,000
  • Price $ 280,000,000
  • Price per foot $ 417.91
notes
Sold for $280 million. The new owners will have the opportunity to build about 200,000 square feet of residential condos on top of the building.
  • Event Sales
  • Building Name Parc Place
  • Address 101 West 87th Street Green) and 225 Rector Place
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 165,000,000
  • Event Sales
  • Address NorthWest corner of 23rd Street and 3rd Avenue
  • Borough Manhattan
  • Square feet 14,459
  • Price $ 82,000,000
  • Price per foot $ 5,671.21
notes
Site can accommodate a 250,000 sf plus resid. tower
  • Event Sales
  • Building Name The Sheffield
  • Address 322 West 57th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Price $ 418,000,000
notes
Expected to go condo