Bankrupt high-tech entrepreneur’s luxury Manhattan apartment set for $6.85 million sale
Trustee moves to liquidate Moshe Yanai’s property as part of $120M debt repayment plan.
The luxury Manhattan apartment of bankrupt high-tech entrepreneur Moshe Yanai is set to be sold for $6.85 million, approximately $1.65 million below the appraiser’s valuation of $8.5 million. This was disclosed in a request submitted last week to the Tel Aviv Magistrates’ Court by Yanai’s bankruptcy trustee, attorney Yariv Shay Yashinovsky. Yanai’s total debts to creditors are estimated at around $120 million, with the Manhattan apartment being one of four properties he owns, alongside apartments in Boston, Tel Aviv, and Herzliya. The trustee is expected to sell these properties to repay creditors.
According to the application, the identity of the bidder for the New York apartment has not been disclosed to the trustee at this stage by the American broker managing the sale. The broker noted, however, that the buyer is familiar with the property, as they own another unit in the same complex. The broker will receive a 4% commission on the transaction, approximately $280,000. Other offers for the apartment did not exceed $6 million, and the broker estimated that, given the current state of the New York real estate market, it is unlikely that a higher bid will emerge.
The application further notes that Yanai’s New York apartment was mortgaged in December 2024 to the Shaked fund, led by Gil Deutsch and Roni Biram, for a loan of 22.6 million shekels taken out through his investment company, MII.
Additionally, Yanai committed in December 2024 that if MII fails to repay previous loans totaling approximately 42 million shekels (taken between 2019 and 2023), his rights in the Manhattan apartment would be transferred to the fund. The decision regarding the allocation of proceeds between the two creditors will be determined at a later stage.
