After five years of operation, Cafe de Paris announced that it would be closing at the end of the week (March 30th). In its place, French-Israeli real estate mogul Laurent Levy will be building a residential building with space for businesses on the ground floor. The new building will also utilize the land on either side of Cafe de Paris now occupied by a pizzeria and a courtyard.

Previously, the space was occupied by the Moment Cafe where, in 2002, a suicide bomber killed 11 people and injured 54. Eventually, it was reopened as a RestoBar, but that closed after Levy purchased the land and refused to allow the restaurant to operate on the Sabbath.

Levy made his money with his Optical Center chain that offers optical and audio solutions to the public. In Israel, he has been credited with supplying free glasses to the needy. He has also purchased land around the country upon which he has developed hotels, residences, and businesses.  He was also the man behind the new Music Square in Nahalat Shiva.