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Azorim expanded its investments in emerging international markets. India is one such market, where Mr. Boymelgreen saw investment opportunities based on the country’s current and projected growth. Azorim undertook two large scale residential developments in India, collaborating with local development partners. The company also pursued other investments in this market, exploring residential, commercial and retail development.

In mid-2008, when Lehman Brothers collapsed, Boymelgreen and the Engel group were at their peak of development throughout Europe. They were hit particularly hard as several projects in Warsaw, Poland and Kiev, Ukraine were in the middle stages of construction. In 2011, Boymelgreen was also forced to sell his stakes in Azorim.

The Leviev Boymelgreen partnership was dissolved in 2007.

Boymelgreen created Boymelgreen Capital in early 2006 focusing on buying, developing and managing real estate in Israel and around the world, either directly or through the acquisition of other entities.

Boymelgreen purchased a 64% stake in Azorim in September, 2006, a $500-million, publicly traded investment and development firm in Israel, with 120 employees and $730 million in assets. Azorim is one of Israel’s largest residential developers and a leader in construction and the marketing of residential developments and income generating assets.

Boymelgreen opened LibertyPointe Bank in 2005, a new commercial bank. Within a few years Boymelgreen had opened several branches in Manhattan and Brooklyn.

In 2002, Boymelgreen entered a joint venture with Africa Israel Investments and the Leviev Global Group and formed Leviev Boymelgreen. Through the joint venture, Boymelgreen harnessed Leviev Boymelgreen’s collective financial strength, its global reach and real estate expertise to build a portfolio of residential, commercial and retail properties, with more than 40 projects completed.

Born in Israel, Boymelgreen immigrated to New York in 1969 and worked in asbestos abatement and running a number of modern Judaica bookstores in Brooklyn, NY. In 1994, Shaya Boymelgreen began developing real estate with several small developments in Manhattan, under Boymelgreen Developers. In just over a decade, Boymelgreen transformed his family business into one of the largest and most active development companies in New York City. The company had more than 200 employees and an $8-billion portfolio that extended into major markets across the U.S. – including New York, Miami and Las Vegas. In the United States, Boymelgreen has developed more than 20,000 residential units. Boymelgreen’s company remains a family-owned and operated company. Boymelgreen identifies with the Chabad Lubavitch Hasidic Jewish community.

Shaya Boymelgreen (born 1951) is an American real estate developer in New York City.