Item 2.01 Completion of Acquisition or Disposition of Assets.

On July 31, 2009, Hillview Avenue Realty, LLC ("Hillview"), a majority owned subsidiary of IDT Corporation (the "Registrant"), closed on the sale (the "Sale") of its properties located at 3373 and 3375 Hillview Avenue in Palo Alto, California (the "Properties"). The Registrant has a 69.27% interest in Hillview. The Properties consist of two interconnected office buildings containing 120,000 square feet located on a 6.68-acre parcel of land. The purchaser was BGR Associates, a California Limited Partnership and the purchase price was $62,730,043. The Registrant's net proceeds from the Sale, after deduction of the mortgage debt secured by the property that was assumed by the buyer or repaid in connection with the transaction, transaction expenses and the interests of the other owners of Hillview, were approximately $3.1 million.

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