Sources re Boymlegreen management of Green Park project

-July 31, 2008, Land Grabs and Lawsuits, The Montreal Mirror, Jesse Rosenfeld

According to a spokesperson from Green Park and Green Mount’s business partners Danya Cebus construction company, the two companies are owned by wealthy American businessman Shaya Boymelgreen. Danya Cebus received a subcontract for the Mattityahu East project in 2004 and the spokesperson says the two companies are part of Boymelgreen’s business conglomerate.

“Green Park and Green Mount—as part of the Boymelgreen group—subcontracted to Danya Cebus, with the [Israeli] government’s approval in awarding contracts,” says a Danya Cebus spokesperson. “Boymelgreen was the group that won the contract and Danya Cebus is acting as the subcontractor.”

A subsidiary of Africa Israel Investments LTD, Danya Cebus is owned by Israeli billionaire Lev Leviev.



-July-August, 2006, OFFSHORE ZIONISM, New Left Review, Gadi Algazi

Complete Article:

The main entrepreneurs involved in the expansion of Modi‘in Illit are Lev Leviev, one of Israel’s most powerful businessmen and an owner of Africa Israel Investments; Leviev’s business partner Shaya Boymelgreen, an American real-estate investor; Mordechai Yona, the former head of the Contractors Association; and Pinchas Salzman, an orthodox businessman.


-April 11, 2006, Flats Buyers in Modi'in Illit not to be harmed, Tsofar, No'am Adiri

Flats Buyers in Modi'in Illit not to be harmed
Original Hebrew:

By No'am Adiri
Tuesday, April 11, 2006

(Translation by Adalah-NY)

"Flats buyers in my residential project, Green Park, in Modi'in Illit, will not be harmed", developer and businessman Yeshayahu Boymelgreen promised. He said this in an interview for the religious weekly Ba'Kehila. Boymelgreen didn't say how many flats buyers are involved.

Construction at Green Park has recently been stopped, following a Court petition concerning ownership of the land. The petition is being discussed these days in Court. In the interview, Boymelgreen said: "I entered the project almost at the end of the road. Less than 100 flats remained to be sold. Some of the flats buyers have bank guarantees. I vouch “ no one among the flats buyers is to be harmed, even if he doesn't have a bank guarantee. Within 5 weeks, with the advance of the legal procedures, we will know better the status of the project."

In the interview, Boymelgreen also reveals that 40 years ago, he saved the Rabbi of Gur from drowning. Boymelgreen said that while he was a young juvenile, he went one morning to the sea, and found a Jew about to drown. He leaped and saved him, not knowing who he was. Only when he got to the shore and three attendants of the Rabbi hurried towards him, he found out that he saved the Rabbi of Gur, who went early in the morning to bathe in the sea.

Boymelgreen invested in recent months more than $400 million in real-estate in Israel. He bought the control in the building company Azorim for $318 million, bought the Assuta plot in north Tel Aviv for $47 million, and also bought 50% of Pollar Real-Estate for $42 million. In the Ba'Kehila interview, Boymelgreen speaks about his personal life and his donations, but not on his real-estate investments.

In the interview, Boymelgreen says he wouldn't come to live in Israel, since he has business in the USA, but from now on, he will spend longer periods of time in Israel. He explained that during the last year, he decided to invest in real-estate in Israel, since he doesn't want to have all his business in one country (USA), and if to invest in another country “ then in Israel.

Boymelgreen, born in Israel, lived here until age 17, went to the USA to study at a Khabad Yeshiva, and hasn't returned until now. He said the fact he knows the country and the language should help his investments here. Boymelgreen runs his business here from offices in the 25th floor of the Gibor Tower in Ramat-Gan.

He further said in the interview: "I don't know how to build, but I have an instinct for identifying the potential of every place and for finding out which type of building best suits each place".

In the interview, Yeshayahu Boymelgreen reveals some details of his life. He says that after graduating the Khabad Yeshiva, he looked for a job that doesn't require good English. He started working in a small diamond mine. Later he established a factory for the elimination of asbestos residues. About 10 years ago, he first entered the building sector, using "small fortune" earned in previous business. On September 2001, he established a joint company with Lev Leviev, where Leviev has 65% and Boymelgreen 35%. The company builds a series of projects, mostly residential, in New York.

Boymelgreen says “ perhaps hinting at Leviev "I don't have a private airplane". Yet he describes Leviev as "my good friend". He says Leviev advised him how much of his profits to give to charity, under the Jewish principle that 10% of every profit should be given to charity. Boymelgreen doesn't answer the question if the partnership between the two in the USA is to continue, even after Boymelgreen will run the Azorim building company “ a major competitor of Africa-Israel [owned by Leviev] in the residential building market in Israel.



-February 16, 2006 article in The Marker, Tel Aviv Comes up in the Sights of Jewish Real Estate Developers from New York

Tel Aviv Comes up in the Sights of Jewish Real Estate Developers from New York
Original Hebrew:

Buy(in): The Marker (a section in the newspaper Ha'aretz) 16.2.06
(Translation by Adalah-NY)

The real estate market in Tel Aviv is heating up. In the past few days it became clear that the decline in the building of new projects ended in 2005, and just in two days here come along two big investors with interests in lands for building in Tel Aviv. A few days ago 'The Marker' published that the Israeli-New Yorker entrepreneur Ofer Yardeni plans to build 2,000 apartments in Tel Aviv worth 500 million dollars, and yesterday Shaya Boymelgreen announced that he is involved in negotiations for a huge deal in central Tel Aviv.

Yardeni owns 20 buildings with a total worth of a billion dollars shows that it is time to enter investments in real estate in Israel. It seems like Boymelgreen believes this too.

The company 'Boymelgreen Capital' (formerly Gambit) which was purchased not long ago by Boymelgreen announced yesterday that it is negotiating to obtain a territory of 9 dunams on which sits the hospital 'Asuta' on Jabotinsky Street in Tel Aviv for a sum of 47 million dollars.

Indeed, Shaya Boymelgreen entered the Israeli market through the main door only two months ago, but he was familiar with Israeli tycoons for a long time before. The ulta-orthodox entrepreneur partnered with Lev Leviev and 'Africa Israel' in the building of a hotel in Las Vegas, a 1.5 billion dollar investment. Boymelgreen invested also in a project less glamorous in Texas in the building of residential neighborhoods in partnership with Africa Israel, Dudi Weissman, and Shraga Biran.

In his last interview with 'The Marker' Boymelgreen said that he partnered with Leviev and Africa in projects in the U.S. amounting to no less than 8 billion dollars. The stocks in Gambit, of which he owns more than 80%, are not his first exposure to Israel. Of his investments in Israel, Green Park is noteworthy, a building project in Modi'in Illit, as well as a chain of stores selling clothing for ultra-orthodox kids called "Kiddie Chic."

Boymelgreen is a Chabad affiliate who left Israel as a young man, and lived today in Crown Heights in New York and is the master of a real estate empire in Israel. He's involved in the building of about 30 building sin Miami, Las Vegas, and Toronto. Recently Boymelgreen obtained the headquarter office of Chase Manhattan Bank in New York worth 170 million dollars. He has plans also to transform the dismal area around ground zero where the twin towers were to luxury residences and has hired Georgio Armani as the designer.

Recently Boymelgreen had also entered the banking sector, when he opened the first branch of Liberty Point Bank in New York. In the same interview he boasted that he will transform Liberty to the likes of the banking empire of the Safra family and proclaimed that Gambit is preparing to sign on "the best, most valuable, and most aristocratic property in Tel Aviv."


-May 8th, 2005, Chabad On-line

Boymelgreen is the controlling interest holder in the Green Park project
  Original Hebrew:

The wealthy Chabadnik, Mr. Shaya Boymelgreen is the holder of controlling interest in the Green Park Project, which is proceeding and is located, these days, in Modi’in Illit. The project initiated from the wealthiest in Israel and will encompass 5,800 apartments, 3000 of which were authorized for construction immediately, according to what was revealed this weekend in the local Bnai Barak newspaper. Until now it was advertised that the controllers of the project are a group of investors from Canada, represented by the construction company Danya Cebus, a subsidiary of Africa/Israel. Now, it becomes clear for the first time that Mr. Shaya is the controlling interest holder of the project as his personal involvement was exposed, following his arrival during the summer holiday for a first visit to the project.

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