Leviev, Steinmetz Buy 10 Floors in Diamond Tower

A group of diamond merchants headed by Lev Leviev and Benny Steinmetz recently purchased 10 floors in the 41-story Diamond Tower in Ramat Gan's Diamond Exchange from Zadik Bino for $45 million, according to sources who were close to the negotiations.

A group of diamond merchants headed by Lev Leviev and Benny Steinmetz recently purchased 10 floors in the 41-story Diamond Tower in Ramat Gan's Diamond Exchange from Zadik Bino for $45 million, according to sources who were close to the negotiations.

Of the 10-floor package, Leviev purchased four floors via his holding company, while Steinmetz bought two floors. The deal includes about 11,000 square meters of office space and about 300 parking spaces. Former Diamond Exchange president Itzhak Forem organized the purchasing group, according to the sources.

The buyers intend to build a connector from the 10 floors - the top 10 floors of the building - to the diamond exchange itself in order to benefit from the security regime of the other offices within the exchange.

Steinmetz is considered one of the world's leading Israeli diamond merchants. His company purchases rough diamonds from producers and sells them to polishers. Leviev is considered one of the world's largest private diamond merchants. His business interests include diamond mining and selling in addition to polishing. He is thought to be the largest diamond exporter in the country.

The Israel Diamond Exchange, which is headed by Avi Paz, is currently negotiating for the purchase of thousands of square meters in another building in a deal that is expected to be completed within a few weeks.

The exchange is located at the Elite intersection in Ramat Gan. It includes the Shimshon and Maccabi buildings as well as part of the Diamond Tower.

A spokesman for the Steinmetz Group confirmed that it was interested in the Diamond Tower deal but said the company was not one of the purchasers. Itzhak Forem refused to comment on the deal.