'Lipstick' building in New York sold to Israeli investors

JERUSALEM: Tao Tsuot and Financial Levers, two Israeli investment companies, said Sunday that they were leading a group that has agreed to buy the "Lipstick" building in Manhattan for $648.5 million. The Israeli companies said that they would own 70 percent of the building at 885 Third Avenue, on East 53rd Street, in New York. Investors including Marciano Investment and Metropolitan Real Estate Investments will own the rest, Tao and Financial Levers said in a statement.