Last August, Africa-Israel chairman Lev Leviev said, “The US was my biggest mistake.”After admitting that real estate investments in the US were his greatest mistake, and after months of exhausting negotiations on a bond settlement for Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY), which is still waiting for its final approval, Lev Leviev is again investing in the US. The “Las Vegas Sun” reports that Leviev and Shaya Boymelgreen have jointly bought land on the Las Vegas Strip, together with a US developer, through a joint venture called Metroflag Management LLC.
Back Together: Leviev and Boymelgreen Buy in Las Vegas
Last August, Africa-Israel chairman Lev Leviev said, “The US was my biggest mistake.”
After admitting that real estate investments in the US were his greatest mistake, and after months of exhausting negotiations on a bond settlement for Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY), which is still waiting for its final approval, Lev Leviev is again investing in the US. The “Las Vegas Sun” reports that Leviev and Shaya Boymelgreen have jointly bought land on the Las Vegas Strip, together with a US developer, through a joint venture called Metroflag Management LLC.
The “Las Vegas Sun” says that Metroflag is a joint venture between Brett Torino, New York developer Flag Luxury Property LLC, and Leviev and Boymelgreen’s joint venture Leviev Boymelgreen LLC. The company purchased a 2.15-acre (8,000-square meter) on the east side of the Strip for $25 million. Metroflag was deemed the only qualified bidder in a Clark County auction.
“The US was my biggest mistake,” said Leviev at a press conference on August 30, 2009, when Africa-Israel announced that it would seek a settlement on its NIS 7.4 billion debt.
Metroflag is a commercial property developer headquartered in New York. The company has subsidiaries that developed the Harley-Davidson Cafe, the Hawaiian Marketplace and the Smith & Wollensky steak restaurant.
AngeloFrank
“The US was my biggest mistake,”
Maybe one should not invest here so that property values do not become so inflated. Please leave some crumbs for the middle-class. Thank-you.
gods right hand man
smell the coffee
mr frank
loose credit led to inflated prices and cash wasnt as valuable
CHDad that keepsGivingButHow Much!?
Who Cares!?!
Frankly these TWO can easily help and SAVE so many CH families (yes that stands for CROWN HEIGHTS, yes were the Rebbe lived many years, correct!) living on the brink. So many are clueless to what is happenning to their neighbors and friends!
Meir
If Hashem helps someone to become Super Rich. Hashem is literally telling these Super Rich people to give money to Tzedokah.
Kol Hakovod to all those Super Rich people who actually givee 10% of their income to Tzedokah.
anonymous
I feel like I need to apologize for all CH residents. The kind of comments left on this article are horribly appalling. I can’t believe people can be so mean and insensitive. How exactly does each of these people know how much Shaya Boymelgreen gives? And how much that he can?
This is horrifying. Shame on you.
anon
Folks – this is very, very old news. I worked for Metroflag four years ago and these two were involved. I don’t know if they are still invested, but the primary players now are Barry Sillerman, Paul Kanavos and Brett Torino – who else, who knows…Did you look at the date of your source material?