From branded beachfront towers in Miami to historic Manhattan conversions, Israeli entrepreneurs have helped develop some of America's most recognizable luxury properties.
From branded beachfront towers in Miami to historic Manhattan conversions, Israeli entrepreneurs have helped develop some of America's most recognizable luxury properties, including Porsche Design Tower, the Plaza Hotel residences and landmark Fifth Avenue buildings.
Who Are the Israeli Entrepreneurs Behind International Luxury Real Estate?
Israeli entrepreneurs have established a substantial presence in international property development. Their investments include luxury residential towers, historic hotels, commercial landmarks and large redevelopment projects. Some of the most recognizable examples are in the United States.
The Dezer family developed Porsche Design Tower in Sunny Isles Beach, Florida, and subsequently launched Bentley Residences. Israeli businessman Yitzhak Tshuva acquired New York's Plaza Hotel in 2004 and converted part of the historic property into luxury residences. Israeli-born developer Michael Shvo pursued prominent projects in Manhattan, San Francisco and Miami Beach.
These entrepreneurs have used different investment strategies. Some develop new residential towers. Others acquire existing properties and reposition them. A third approach involves partnerships with internationally recognized luxury brands. The following projects demonstrate the scale and diversity of Israeli-connected international real estate investment.
1. Porsche Design Tower: Sunny Isles Beach, Florida
Developer: Dezer Development
Israeli entrepreneurs: Michael Dezer and Gil Dezer
Location: Sunny Isles Beach, Florida
Property type: Branded luxury condominium tower
Building: 60 stories
Residences: 132
Porsche Design Tower is one of the most recognizable branded residential developments in the United States. The property was developed by Dezer Development, the company founded by Israeli-born Michael Dezer and led by his son Gil Dezer. The project combines oceanfront residential real estate with the Porsche Design brand.
Its defining feature is the Dezervator, a vehicle elevator system that allows residents to transport cars to private parking spaces beside their apartments. The concept helped distinguish the property from conventional luxury condominiums. Instead of relying entirely on ocean views and apartment size, the developer created a residential experience designed around automobile ownership.
According to Dezer Development, the 60-story building contains 132 residences. The company also identifies the project as a landmark in its strategy of partnering with internationally recognized luxury brands.
Why it matters: Porsche Design Tower helped establish the automotive-branded residential model in South Florida.
Primary source: Dezer Development, Porsche Design Tower project profile (dezerdevelopment.com).
2. Bentley Residences: Sunny Isles Beach, Florida
Developer: Dezer Development
Israeli entrepreneurs: Michael Dezer and Gil Dezer
Location: Sunny Isles Beach, Florida
Property type: Automotive-branded luxury residences
Announced residences: 216
Development status: Under construction as described by the developer
Bentley Residences represents the continuation of Dezer Development's strategy of connecting luxury automobile brands with residential real estate. The project is being developed in collaboration with Bentley Motors. The planned tower includes private vehicle elevators and sky garages, designed to allow residents to display and access their cars within their homes. The concept builds on the technology introduced at Porsche Design Tower.
The original project description called for 216 private residences. A 2024 project report described the building as a 62-story development on approximately 2.4 acres of oceanfront property.
Why it matters: Bentley Residences demonstrates how the Dezer family has turned automotive-branded real estate into a repeatable development strategy.
Primary sources: Dezer Development, current projects and Bentley Residences project description (dezerdevelopment.com).
3. Residences by Armani/Casa: Sunny Isles Beach, Florida
Developers: Dezer Development and Related Group
Israeli entrepreneur: Gil Dezer
Location: Sunny Isles Beach, Florida
Property type: Fashion-branded luxury residences
Building: 56 stories
Residences: 308
Residences by Armani/Casa is another major branded residential development associated with the Dezer family. The project was developed in partnership with Related Group and Armani/Casa, and the building was designed by architect César Pelli. According to Dezer Development, the 56-story oceanfront tower contains 308 residences.
The project illustrates how luxury residential branding extends beyond automobile manufacturers. Fashion and interior-design brands can also provide a distinctive identity for residential developments. For buyers, the brand may signal a particular design aesthetic and level of exclusivity. For developers, it can differentiate a building in a highly competitive luxury market.
Why it matters: The project expanded Dezer Development's branded-residence strategy from automotive companies into fashion and interior design.
Primary source: Dezer Development, company and development history (dezerdevelopment.com).
4. The Plaza Private Residences: New York City
Israeli investor: Yitzhak Tshuva
Development company: Elad Group
Location: Fifth Avenue and Central Park South, Manhattan
Property type: Historic hotel conversion and luxury residences
Historic acquisition price: $675 million
Acquisition year: 2004
The Plaza Hotel is one of the most recognizable properties in New York. In August 2004, Israeli businessman Yitzhak Tshuva acquired the hotel through Elad Properties for approximately $675 million. The acquisition was reported by Hebrew-language business newspaper Globes.
Tshuva's strategy involved transforming part of the historic hotel into luxury residential apartments while preserving hotel operations. The project required substantial restoration and redevelopment work, and involved one of Manhattan's most prominent historic properties. The conversion demonstrated how a luxury hotel could be repositioned to serve both hospitality guests and wealthy residential buyers.
Globes subsequently reported that the residential portion of the project generated approximately $1.5 billion in apartment sales. That was a reported sales estimate, not the project's net profit. Tshuva later sold his interests in the hotel's operating business, so his historic development role should not be confused with current ownership.
Why it matters: The Plaza conversion remains one of the most prominent examples of Israeli involvement in Manhattan luxury real estate.
Hebrew sources (גלובס):
- Globes: Tshuva acquires the Plaza for $675 million, August 2004.
- Globes: The Plaza residential conversion and apartment sales, February 2012.
- Globes: Historical sale of Plaza hotel interests.
5. 15 Central Park West: New York City
Israeli-connected investor: Eyal Ofer
Location: Central Park West, Manhattan
Property type: Ultra-luxury residential development
Investment category: International development partnership
15 Central Park West became one of Manhattan's most prestigious residential addresses. Israeli business reporting has connected Eyal Ofer to the investment group associated with the development. The building was developed by the Zeckendorf family with major institutional investment participation, and its location beside Central Park helped establish its reputation as a premier luxury property.
The project illustrates the role of international capital in high-end New York residential development. Such developments require significant financing, access to premium land and an understanding of the market for wealthy buyers. Eyal Ofer's connection is best understood as investment participation rather than sole development responsibility.
Why it matters: The project connects Israeli-origin investment capital to one of Manhattan's best-known luxury residential addresses.
6. 685 Fifth Avenue: New York City
Israeli entrepreneur: Michael Shvo
Company: SHVO
Location: Fifth Avenue, Manhattan
Property type: Luxury branded residential redevelopment
685 Fifth Avenue is associated with Israeli-born developer Michael Shvo. The project involved the transformation of an established Manhattan property into luxury residences associated with Mandarin Oriental. The location is among New York's most recognizable retail and residential corridors.
The investment reflects the increasing importance of branded residences, which combine private residential ownership with the reputation of an international hospitality company. Developers may use such partnerships to distinguish their properties and appeal to wealthy international buyers. However, the economic value depends on the quality of the building, the services provided and the strength of the underlying property market.
Why it matters: The project demonstrates Israeli-born participation in Manhattan's branded luxury residential market.
7. Transamerica Pyramid: San Francisco, California
Israeli entrepreneur: Michael Shvo
Company: SHVO and investment partners
Location: San Francisco
Property type: Landmark commercial redevelopment
The Transamerica Pyramid is one of San Francisco's most recognizable buildings. Michael Shvo and investment partners acquired the property and pursued a major renovation program, repositioning a historic commercial landmark for contemporary office tenants.
Although it is not a residential development, the property belongs in the broader category of international trophy real estate. Such assets attract investors because of their locations, architectural significance and potential to command premium rents. They also carry substantial risks: renovations can be expensive, and commercial property performance depends on leasing demand and financing conditions.
Why it matters: The Transamerica Pyramid illustrates the scale of landmark-property investments pursued by Israeli-born developers.
8. 711 Fifth Avenue: New York City
Israeli entrepreneur: Michael Shvo
Company: SHVO and investment partners
Location: Manhattan
Property type: Premium commercial real estate
711 Fifth Avenue is another prominent Manhattan property associated with Michael Shvo's investment activities. The building occupies a prime commercial location. Unlike a new condominium tower, the investment strategy centers on an established property, where investors seek to improve value through renovations, leasing and repositioning.
The property's location is central to its commercial appeal. However, trophy buildings remain exposed to changes in office demand and capital markets.
Why it matters: The property demonstrates how Israeli-born developers participate in premium American commercial real estate beyond residential construction.
9. The Raleigh Hotel Redevelopment: Miami Beach, Florida
Former developer: Michael Shvo and investment partners
Location: Miami Beach
Property type: Historic hotel and proposed luxury redevelopment
Historic acquisition price: Approximately $242.9 million
Acquisition year: 2019
Status: Former investment; ownership subsequently changed
The Raleigh Hotel redevelopment became one of Miami Beach's most closely watched luxury property projects. Michael Shvo and investment partners acquired the Raleigh and neighboring properties in 2019. The development plan included restoring the historic hotel and introducing a luxury residential component.
However, the project experienced delays, and the property assemblage was subsequently sold to another investment group in 2025. This ownership change is essential to understanding the project's history. Shvo was an important investor and proposed developer, but should not be described as the current developer. The Raleigh illustrates the risks associated with complex historic redevelopment: even highly recognizable properties can face financing, construction and regulatory challenges.
Why it matters: The project shows that prominent acquisitions do not always result in completed developments under their original investors.
10. Hyde Midtown Suites & Residences: Miami, Florida
Developers: Dezer Development and Related Group
Israeli entrepreneur: Gil Dezer
Location: Midtown Miami
Property type: Mixed-use residential and hospitality development
Hyde Midtown Suites & Residences represents a different development strategy from Dezer's oceanfront condominium towers. The project was developed through a partnership involving Dezer Development and Related Group, and it combines residential accommodation with a hospitality-oriented brand.
The property illustrates the commercial potential of mixed-use urban development. Unlike a beachfront luxury tower targeting primarily second-home buyers, an urban project can appeal to residents seeking access to restaurants, retail and employment centers. The development also demonstrates the importance of partnerships in large real estate projects, where developers may combine land holdings, financing relationships and operating expertise to deliver complex properties.
Why it matters: Hyde Midtown extends the Dezer family's development activity beyond Sunny Isles Beach into Miami's urban residential market.
Primary source: Dezer Development, completed projects (dezerdevelopment.com).
How Do the 10 Israeli-Connected Developments Compare?
| Development | City | Israeli entrepreneur | Property category |
|---|---|---|---|
| Porsche Design Tower | Sunny Isles Beach | Michael and Gil Dezer | Luxury residences |
| Bentley Residences | Sunny Isles Beach | Michael and Gil Dezer | Luxury residences |
| Residences by Armani/Casa | Sunny Isles Beach | Gil Dezer | Luxury residences |
| Plaza Private Residences | New York | Yitzhak Tshuva | Historic luxury conversion |
| 15 Central Park West | New York | Eyal Ofer | Luxury residential investment |
| 685 Fifth Avenue | New York | Michael Shvo | Branded residences |
| Transamerica Pyramid | San Francisco | Michael Shvo | Landmark commercial property |
| 711 Fifth Avenue | New York | Michael Shvo | Commercial property |
| Raleigh Hotel redevelopment | Miami Beach | Michael Shvo, former investor | Historic redevelopment |
| Hyde Midtown | Miami | Gil Dezer | Mixed-use residences |
How Did Israeli Developers Build International Property Businesses?
1. Luxury branding
Dezer Development has used partnerships with Porsche Design, Bentley and Armani/Casa to differentiate residential buildings. This strategy associates real estate with recognizable luxury identities.
2. Historic redevelopment
Yitzhak Tshuva's Plaza Hotel transaction demonstrated the potential value of converting historic hospitality properties into luxury residences. The approach can generate substantial sales, but it requires significant capital and regulatory expertise.
3. International investment partnerships
Projects such as 15 Central Park West illustrate how major real estate developments can involve multiple investment groups. International investors may participate through equity interests without being the sole developer.
4. Landmark commercial property
Michael Shvo's investment strategy has included recognizable office buildings and other trophy properties. These investments can offer prestige and long-term value but remain exposed to commercial leasing conditions.
5. Mixed-use development
Hyde Midtown illustrates a model combining residential accommodation with hospitality and lifestyle branding. Mixed-use properties can serve different customer groups within the same development.
What Are the Risks Behind Luxury Real Estate?
Luxury real estate projects can attract substantial international attention, but recognizable branding does not eliminate financial risk. Developers face construction costs, financing conditions, regulatory approvals and changes in buyer demand. Historic properties can introduce additional complexity, and commercial landmarks face different challenges, including office leasing demand.
Ownership changes are also common. A developer who acquired a property several years ago may no longer control it. For that reason, investment history, development responsibility and current ownership should be reported separately.
Frequently asked questions
Who developed Porsche Design Tower in Florida?
Dezer Development, the company founded by Michael Dezer and led by Gil Dezer.
Is Bentley Residences connected to Israeli developers?
Yes. Dezer Development is the developer associated with the project.
Which Israeli businessman acquired the Plaza Hotel in New York?
Yitzhak Tshuva acquired the Plaza through Elad Properties in 2004 for approximately $675 million.
Does Yitzhak Tshuva still own the Plaza Hotel?
No. Tshuva subsequently sold his hotel interests.
Which Israeli-connected investor participated in 15 Central Park West?
Eyal Ofer has been identified in Israeli business reporting as an investor associated with the development.
Who is Michael Shvo?
Michael Shvo is an Israeli-born real estate entrepreneur associated with high-profile American residential and commercial property investments.
Did Michael Shvo complete the Raleigh redevelopment?
No. The project experienced delays, and the property assemblage was sold to another investor.
What is Dezer Development known for?
The company is particularly associated with branded luxury residential towers in South Florida, including Porsche Design Tower and Residences by Armani/Casa.
Conclusion
Israeli entrepreneurs have participated in some of America's most recognizable luxury and landmark property developments. The Dezer family helped establish the automotive-branded condominium model. Yitzhak Tshuva transformed part of the Plaza Hotel into luxury residences. Eyal Ofer participated in major Manhattan residential investment. Michael Shvo pursued landmark properties and luxury redevelopment projects across several American cities.
Their strategies differ, but the underlying commercial ambition is similar: acquire or develop distinctive assets in markets where location, design and branding can command premium values. The most important distinction is between historical involvement and current ownership. Understanding that difference provides a more accurate picture of Israeli participation in international luxury real estate.
Sources
Hebrew-language business reporting
- Globes: Yitzhak Tshuva's $675 million Plaza Hotel acquisition, August 2004.
- Globes: Plaza Private Residences sales and redevelopment, February 2012.
- Globes: Plaza Hotel ownership changes.
Developer and project records
- Dezer Development: Official company history.
- Dezer Development: Porsche Design Tower.
- Dezer Development: Bentley Residences and current developments.
- Dezer Development: Completed developments.
- Dezer Development: Gil Dezer and branded residences.
Research date: October 2026. The article includes residential, commercial and mixed-use projects, as well as historical investments. It does not imply that every project remains under the original investor's ownership.
How we report: Olam stories draw on public filings, company disclosures and named sources, checked by our editors. Read our methodology · Corrections
