TEL AVIV, Sept 19 Israeli investment house
Halman-Aldubi and a group of Israeli and foreign investors
bought 45 percent of New York City's Brill building near Times
Square at a price that values the entire building at $310
The group said on Monday it has an option to buy the rest of
the building within 18 months at the same price.
The 11-storey office building, located on Broadway, was
inaugurated in 1931 and, after being renovated in recent months,
is in the process of being rented out under long-term contracts.
Halman-Aldubi, whose investment in the building is $16
million, said a 7 percent annual return is expected from
Other investors in the group include the Schottenstein
family, who control American Eagle Outfitters, and real estate
firm Conway Capital.
(Reporting by Tova Cohen, Editing by Ari Rabinovitch)