LEVITT TODAY

Although bought and sold several times since 1968, and the Levitt name nearly disasppearing altogether for a few years, the company was revived in the United States in 1999 as the Levitt Corporation, a subsidiary of its new owner, BankAtlantic Corporation.  In 2004, Levitt Corp. was spun off from BankAtlantic as a public corporation.  Levitt and Sons, LLC, was established as one of Levitt Corporation's subsidiaries and would operate primarily as a developer of adult communities in Florida, briefly expanding into a few other southeastern states.

On November 9, 2007, Levitt and Sons, LLC and 37 of its subsidiaries filed for bankruptcy protection under Chapter 11.
 
Effective May 27, 2008, Levitt Corporation--parent company of Levitt and Sons, LLC--became known as Woodbridge Holdings.  According to published reports, the name change reflects the corporation's future direction, which will involve investments both within and outside the real estate industry.  The name change is also a part of a plan to distance itself from the Levitt and Sons, LLC subsidiary.  With the Levitt and Sons, LLC subsidiary filing for Chapter 11 bankruptcy protection on Nov. 9, 2007, the subsidiary is now in receivership under Kurtzman Carson Consultants, LLC.  According to a statement previously posted at the the Levitt Corp. web site, Levitt Corp. and its other subsidiaries are unaffected by the status of Levitt and Sons, LLC.  Other subsidiaries of the former Levitt Corporation include Bluegreen Corp. and Core Communities, LLC.  Over the years, the Levitt and Sons name has weathered many ups and downs due to both market and organizational impacts.  Although not the same company it once was, the Levitt name seems to carry with it a certain resilience.  It will be interesting to see if the Levitt name somhow re-emerges in the homebuilding industry.

See the official Woodbridge Holdings (formerly Levitt Corporation) web site (although references to Levitt have been replaced by hte new name in the company history, they have been retained in the listing of press releases and in the management bios):

Direct link to Levitt and Sons, LLC case information at the Kurtzman Carson web site:

A Levitt company also operates in Spain as Levitt-Bosch Aymerich, S.A., formerly the Spanish division of Levitt and Sons, Inc.

        

See the official Levitt-Bosch Aymerich, S.A. web site:

Another Levitt company still exists in Puerto Rico and operates under the name Levitt Homes Corp. based in Guaynabo, P.R.  Levitt Homes president and CEO, Rafael Torrens, previsously served as the president of the Puerto Rico Homebuilders Association.  Levitt Homes Corp. was formerly the Puerto Rico subsidiary of the Levitt Corporation under Starrett Housing Corp.

See the official Levitt Homes Corp. web site:

 

 

Page last revised 25 October 2008