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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13G
(RULE 13D-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT TO RULES 13D-1(B), (C) AND (D) AND
AMENDMENTS THERETO FILED PURSUANT TO RULE 13D-2(B)
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(AMENDMENT NO. )*
AVATAR HOLDINGS INC.
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(NAME OF ISSUER)
COMMON STOCK,
PAR VALUE $1.00 PER SHARE 053494-10-0
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(TITLE OF CLASS OF SECURITIES) (CUSIP NUMBER)
March 31, 2006**
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(DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT)
CHECK THE APPROPRIATE BOX TO DESIGNATE THE RULE PURSUANT TO WHICH THIS SCHEDULE
IS FILED:
[ ] RULE 13D-1(B)
[X] RULE 13D-1(C)
[ ] RULE 13D-1(D)
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*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 or otherwise subject to the liabilities of that section of the Act but
shall be subject to all other provisions of the Act (however, see the Notes).
** By oversight, the Reporting Persons failed to file this Schedule 13G/A within
10 days after acquiring beneficial ownership of 5% of the Issuer's outstanding
Common Stock from the Estate of Leon Levy on March 31, 2006.
Continued on Following Pages
Page 1
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CUSIP No. 053494-10-0 13G Page 2 of 7 Pages
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(1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE
PERSONS (ENTITIES ONLY)
The Leon Levy Foundation
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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(5) SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
(6) SHARED VOTING POWER
BENEFICIALLY
706,427***
OWNED BY -----------------------------------------------------------------
(7) SOLE DISPOSITIVE POWER
EACH
0
REPORTING -----------------------------------------------------------------
(8) SHARED DISPOSITIVE POWER
PERSON WITH
706,427***
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
706,427***
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(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
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(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
8.6%***
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(12) TYPE OF REPORTING PERSON **
OO
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
*** Shelby White and Elizabeth Moynihan are both trustees of The Leon Levy
Foundation and thus, for purposes of Rule 13d-3 under the Securities Exchange
Act of 1934, as amended, may be deemed to beneficially own the shares
beneficially owned by The Leon Levy Foundation. Each of Shelby White and
Elizabeth Moynihan disclaims beneficial ownership of any and all such securities
in excess of her actual pecuniary interest.
CUSIP No. 053494-10-0 13G Page 3 of 7 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Shelby White
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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(5) SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
(6) SHARED VOTING POWER
BENEFICIALLY
706,427***
OWNED BY -----------------------------------------------------------------
(7) SOLE DISPOSITIVE POWER
EACH
0
REPORTING -----------------------------------------------------------------
(8) SHARED DISPOSITIVE POWER
PERSON WITH
706,427***
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
706,427***
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(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
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(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
8.6%***
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(12) TYPE OF REPORTING PERSON **
IN
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
*** Shelby White and Elizabeth Moynihan are both trustees of The Leon Levy
Foundation and thus, for purposes of Rule 13d-3 under the Securities Exchange
Act of 1934, as amended, may be deemed to beneficially own the shares
beneficially owned by The Leon Levy Foundation. Each of Shelby White and
Elizabeth Moynihan disclaims beneficial ownership of any and all such securities
in excess of her actual pecuniary interest.
CUSIP No. 053494-10-0 13G Page 4 of 7 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Elizabeth Moynihan
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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(5) SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
(6) SHARED VOTING POWER
BENEFICIALLY
706,427***
OWNED BY -----------------------------------------------------------------
(7) SOLE DISPOSITIVE POWER
EACH
0
REPORTING -----------------------------------------------------------------
(8) SHARED DISPOSITIVE POWER
PERSON WITH
706,427***
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
706,427***
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(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
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(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
8.6%***
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(12) TYPE OF REPORTING PERSON **
IN
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
*** Shelby White and Elizabeth Moynihan are both trustees of The Leon Levy
Foundation and thus, for purposes of Rule 13d-3 under the Securities Exchange
Act of 1934, as amended, may be deemed to beneficially own the shares
beneficially owned by The Leon Levy Foundation. Each of Shelby White and
Elizabeth Moynihan disclaims beneficial ownership of any and all such securities
in excess of her actual pecuniary interest.
CUSIP No. 053494-10-0 13G Page 5 of 7 Pages
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ITEM 1(a). NAME OF ISSUER:
Avatar Holdings Inc., a Delaware corporation
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
201 Alhambra Circle
Coral Gables, Florida 33134
ITEM 2(a). NAME OF PERSON FILING:
The Leon Levy Foundation, Shelby White and Elizabeth Moynihan. Shelby
White and Elizabeth Moynihan are both trustees of The Leon Levy
Foundation and thus, for purposes of Rule 13d-3 under the Securities
Exchange Act of 1934, as amended, may be deemed to beneficially own
the shares beneficially owned by The Leon Levy Foundation. Each of
Shelby White and Elizabeth Moynihan disclaims beneficial ownership of
any and all such securities in excess of her actual pecuniary
interest.
ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
280 Park Avenue
21st Floor - West Building
New York, NY 10021
ITEM 2(c). CITIZENSHIP:
The Leon Levy Foundation is a New York trust.
Each of Shelby White and Elizabeth Moynihan is a United States
citizen.
ITEM 2(d). TITLE OF CLASS OF SECURITIES:
Common Stock, par value $1.00 per share
ITEM 2(e). CUSIP NUMBER:
053494-10-0
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B)
OR (C), CHECK WHETHER THE PERSON FILING IS:
(a) [ ] Broker or dealer registered under Section 15 of the Exchange
Act;
(b) [ ] Bank as defined in Section 3(a)(6) of the Exchange Act;
(c) [ ] Insurance company as defined in Section 3(a)(19) of the
Exchange Act;
(d) [ ] Investment company registered under Section 8 of the
Investment Company Act;
(e) [ ] An investment adviser in accordance with Rule
13d-1(b)(1)(ii)(E);
(f) [ ] An Employee benefit plan or endowment fund in accordance
with Rule
13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G);
(h) [ ] A Savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act;
(i) [ ] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act;
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
CUSIP No. 053494-10-0 13G Page 6 of 7 Pages
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ITEM 4. OWNERSHIP
(a) Amount beneficially owned: 706,427
(b) Percent of class: 8.6%
(c) Number of shares as to which The Leon Levy Foundation, Shelby
White and Elizabeth Moynihan have:
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 706,427
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition: 706,427
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial
owner of more than five percent of the class of securities, check the
following |_|.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
Not applicable.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR
CONTROL PERSON
Not applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
Not applicable.
CUSIP No. 053494-10-0 13G Page 7 of 7 Pages
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ITEM 10. CERTIFICATION
(a) Not applicable.
(b) By signing below, I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of our knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
Date: April 26, 2007
THE LEON LEVY FOUNDATION
By:/s/ Shelby White
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Name: Shelby White
Title: Trustee
By:/s/ Elizabeth Moynihan
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Name: Elizabeth Moynihan
Title: Trustee
/s/ Shelby White
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SHELBY WHITE
/s/ Elizabeth Moynihan
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ELIZABETH MOYNIHAN
EXHIBIT A
JOINT FILING AGREEMENT
PURSUANT TO RULE 13d-1(k)
The undersigned acknowledge and agree that the foregoing statement on
Schedule 13G is filed on behalf of each of the undersigned and that all
subsequent amendments to this statement on Schedule 13G may be filed on behalf
of each of the undersigned without the necessity of filing additional joint
filing agreements. The undersigned acknowledge that each shall be responsible
for the timely filing of such amendments, and for the completeness and accuracy
of the information concerning him or it contained herein and therein, but shall
not be responsible for the completeness and accuracy of the information
concerning the others, except to the extent that he or it knows or has reason to
believe that such information is inaccurate.
Dated: April 26, 2007
THE LEON LEVY FOUNDATION
By:/s/ Shelby White
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Name: Shelby White
Title: Trustee
By:/s/ Elizabeth Moynihan
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Name: Elizabeth Moynihan
Title: Trustee
/s/ Shelby White
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SHELBY WHITE
/s/ Elizabeth Moynihan
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ELIZABETH MOYNIHAN