Sapir Corp CEO Amir Richulsky resigns - The Real Deal

Alex Sapir and Amir Richulsky (Sapir Corp, iStock)

After about half a year as Sapir Corp’s CEO, Amir Richulsky is leaving for another firm.

The developer announced Richulsky’s resignation in a Sunday filing on the Tel Aviv Stock Exchange, where the company’s bonds are listed. The disclosure did not specify where Richulsky is going, but notes that his tenure will officially end in December.

Richulsky, previously Sapir Corp’s director of finance, was appointed as CEO this May after his predecessor Baruch Itzhak left the firm to join one of Israel’s top real estate companies, Property & Building Corp, as CFO.

Richulsky has worked in leadership roles within parent company the Sapir Organization for nearly five years, which chairman Alex Sapir said at the time would “ease the transition process.” A successor is expected to be named by the end of the month.

“We thank Amir for his many contributions to the Company over the past five years and wish him continued success in his future endeavors as he transitions to a new industry,“ Sapir said in a statement.

Sapir Corp owns the NoMo Soho hotel at 9 Crosby Street in New York City, the Arte luxury condo building in Miami’s Surfside, and a pair of development sites in New York and Miami that it is marketing for sale. The broader Sapir Organization, founded by the late Tamir Sapir, owns other properties including 260 and 261 Madison Avenue in Midtown Manhattan.

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Sapir Corp CEO Amir Richulsky resigns - The Real Deal
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