Polar Investments Ltd. (TASE: PLR) is in the eye of a storm, following revelations of suspected bribes in the company's real estate projects, including the Holyland in Jerusalem and Havat Hazera in southwest Tel Aviv.
Meanwhile, sources inform "Globes" that Polar Investments controlling shareholder Ziel Feldman, who assumed chairmanship of the company in July 2007, has not been able to sell his mansion in Englewood, New Jersey, about 20 kilometers northwest of New York City. The mansion has been on the market for a year.
Feldman is asking $19.5 million for the property through Sotheby's International Realty.
Polar Investments declined to respond. However, sources close to Feldman said that he has been trying to sell the mansion for a long time, but has not found a buyer, both because he won't compromise on the price, and because of the prevailing real estate market in the US. The sources said that Feldman wants to move into the city, and is seeking a penthouse in Manhattan.
Published by Globes [online], Israel business news - www.globes-online.com - on April 11, 2010
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