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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
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AVATAR HOLDINGS INC.
(Name of Issuer)
COMMON STOCK, $1.00 PAR VALUE 053494-10-0
(Title of class of securities) (CUSIP number)
ROBERT TODD LANG, ESQ.
WEIL, GOTSHAL & MANGES LLP
767 FIFTH AVENUE
NEW YORK, NEW YORK 10153
(212) 310-8000
(Name, address and telephone number of person authorized
to receive notices and communications)
SEPTEMBER 15, 2003
(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-(g), check the
following box. [ ]
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See ss. 240.13d-7 for other
parties to whom copies are to be sent.
* 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
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purposes of Section 18 of the Securities Exchange Act of
1934 (the "Act") 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.)
(Continued on following pages)
(Page 1 of 8 Pages)
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CUSIP No. 053494 10 0 13D Page 2
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1 NAME OF REPORTING PERSON: ODAV LLC
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S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [X]
(B) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: DELAWARE
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NUMBER OF 7 SOLE VOTING POWER: 2,107,763
SHARES
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BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
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EACH 9 SOLE DISPOSITIVE POWER: 2,107,763
REPORTING
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PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 2,107,763
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 24.1%
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14 TYPE OF REPORTING PERSON: OO (LIMITED LIABILITY COMPANY)
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CUSIP No. 053494 10 0 13D Page 3
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1 NAME OF REPORTING PERSON: JACK NASH
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [X]
(B) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: UNITED STATES OF AMERICA
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NUMBER OF 7 SOLE VOTING POWER: 442
SHARES
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BENEFICIALLY 8 SHARED VOTING POWER: 2,107,763
OWNED BY
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EACH 9 SOLE DISPOSITIVE POWER: 442
REPORTING
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PERSON WITH 10 SHARED DISPOSITIVE POWER: 2,107,763
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 2,108,205
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 24.1%
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14 TYPE OF REPORTING PERSON: IN
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ITEM 1. SECURITY AND ISSUER
This statement of beneficial ownership on Schedule 13D ("Schedule
13D") relates to the common stock, par value $1.00 per share, (the "Common
Stock"), of Avatar Holdings Inc. (the "Issuer"). The address of the principal
executive office of the Issuer is 201 Alhambra Circle, Coral Gables, Florida
33134.
ITEM 2. IDENTITY AND BACKGROUND
This statement is filed on behalf of ODAV LLC, a Delaware limited
liability company ("Odav"), and Jack Nash. Odav and Jack Nash are referred to
herein collectively as the "Reporting Persons," and may be deemed to constitute
the members of a "group".
The managing members of Odav are Jack Nash LLC, a Delaware limited
liability company, and Joshua Nash II LLC, a Delaware limited liability company
(each a "Managing Member"). The sole member of Jack Nash LLC is Jack Nash and
the sole member of Joshua Nash II LLC is Joshua Nash. Pursuant to the limited
liability company agreement of Odav, Jack Nash, as the sole member of Jack Nash
LLC, has the sole power to vote, direct the voting of, dispose of and direct the
disposition of the shares of Common Stock beneficially owned by Odav. The
principal business of the Managing Members is to act as managing members of
Odav. The principal business of Odav is investments. The business address of
Odav and each Managing Member is 280 Park Avenue, New York, NY 10017.
Jack Nash is a private investor, his principal occupation. Jack Nash
also serves (i) as the sole member of Jack Nash LLC, a managing member of Odav
and (ii) as a general partner of Odyssey Partners, L.P ("Odyssey"). In addition,
Jack Nash serves as the Chairman of the Board of Directors of the Issuer. The
principal business of Odyssey is investments. The business address of Odyssey is
280 Park Avenue, New York, NY 10017.
The principal occupation of Joshua Nash (who is a citizen of the
United States) is to serve (i) as the sole member Joshua Nash II LLC, a managing
member of Odav, (ii) as the sole member and manager of a limited liability
company that is a general partner of Ulysses Partners, L.P. ("Ulysses
Partners"), (iii) as the managing member of two affiliated limited liability
companies, one which provides administrative services to Ulysses Partners and
the other which provides investment advisory services to Ulysses Offshore Fund,
Ltd. ("Ulysses Offshore"), and (iv) as a general partner of Odyssey. The
principal business of each of Ulysses Partners and Ulysses Offshore is
investments. The business address of Ulysses Partners is 31 West 52nd Street,
New York, New York 10019, and the business address of Ulysses Offshore is
Goldman Sachs (Cayman) Trust, Limited, Harbour Center, 2nd Floor, North Church
Street, P.O. Box 896, George Town, Grand Cayman, Cayman Islands.
During the last five years, none of Odav, the Managing Members, Jack
Nash or Joshua Nash has (i) been convicted in a criminal proceeding (excluding
traffic violations or similar misdemeanors) or (ii) been a party to a civil
proceeding of a judicial or administrative body of competent jurisdiction as a
result of which such person was or is subject to a judgment, decree or final
order enjoining future violations of, or prohibiting or mandating activities
subject to, federal or state securities laws or finding a violation with respect
to such laws.
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ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
On September 15, 2003, in order to facilitate the substantial
liquidation of the other assets of Odyssey, Odyssey transferred 2,107,603 shares
of Common Stock of the Issuer to Odav for no value in exchange. Each of the
partners of Odyssey who held an indirect interest in the shares of Common Stock
owned by Odyssey have the same indirect interest in the shares of Common Stock
owned by Odav. Jack Nash and Joshua Nash, who are general partners of Odyssey,
are the sole members of Jack Nash LLC and Joshua Nash II LLC, respectively, the
managing members of Odav.
ITEM 4. PURPOSE OF TRANSACTION
The information set forth in Item 3 of this Schedule 13D is
incorporated herein by reference.
The Reporting Persons have acquired the securities of the Issuer for
investment purposes. The Reporting Persons may acquire additional securities of
the Issuer or dispose of securities of the Issuer at any time and from time to
time in the open market, in privately negotiated transactions with third parties
or otherwise. Although the foregoing represents the range of activities
presently contemplated by the Reporting Persons with respect to the Issuer, it
should be noted that the possible activities of the Reporting Persons are
subject to change at any time.
Jack Nash is the sole member of Jack Nash LLC, a managing member of
Odav, and Chairman of the Issuer's Board of Directors. Accordingly, the
Reporting Persons will be in a position to influence the management, operations
and activities of the Issuer.
Except as set forth above, the Reporting Persons have no present
plans or intentions which relate to or would result in any of the actions
described in subparagraphs (a) through (j) of Item 4 of Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) The responses of the Reporting Persons to Rows (11) through (13)
of the cover page of this Schedule 13D are incorporated herein by reference.
(b) The responses of each of the Reporting Persons to (i) Rows (7)
through (10) of the cover page of this Schedule 13D and (ii) Item 5(a) hereof
are incorporated herein by reference. Pursuant to Rule 13d-4 under the
Securities and Exchange Act of 1934, as amended, each of Joshua Nash and Jack
Nash hereby expressly disclaims beneficial ownership of such shares to the
extent such beneficial ownership exceeds such person's fractional interest
therein as a member of Odav, which fractional interest is not presently
determinable.
(c) The information set forth in Item 3 is incorporated herein by
reference.
(d) - (e) Not applicable.
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ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
Jack Nash is the sole member of Jack Nash LLC, a managing member of
Odav, and the Chairman of the Board of Directors of the Issuer. An agreement
among the Reporting Persons with respect to the filing of this statement is
attached hereto as Exhibit 1.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit 1 Joint Filing Agreement between Jack Nash and ODAV LLC, dated
September 15, 2003.
[The remainder of this page intentionally left blank.]
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SIGNATURES
After reasonable inquiry and to the best of their knowledge and
belief, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Dated: September 15, 2003
ODAV LLC
By: JACK NASH LLC
By: /s/ Jack Nash
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Name: Jack Nash
Title: Sole Member
/s/ Jack Nash
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Jack Nash
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EXHIBIT INDEX
Exhibit No.
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Exhibit 1 Joint Filing Agreement between Jack Nash and ODAV LLC, dated
September 15, 2003.
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