SHVO is a real estate investment and development company based in

New York City New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...

with offices in

Miami Miami ( ), officially the City of Miami, known as "the 305", "The Magic City", and "Gateway to the Americas", is a East Coast of the United States, coastal metropolis and the County seat, county seat of Miami-Dade County, Florida, Miami-Dade C ...

San Francisco San Francisco (; Spanish language, Spanish for "Francis of Assisi, Saint Francis"), officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the List of Ca ...

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, and

Chicago (''City in a Garden''); I Will , image_map = , map_caption = Interactive Map of Chicago , coordinates = , coordinates_footnotes = , subdivision_type = Country , subdivision_name ...

. It purchases and develops high end properties in the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...

and internationally. SHVO was founded by

Michael Shvo Michael Shvo (born December 29, 1972) is a real estate developer based in New York City with offices in Miami, San Francisco, Los Angeles, and Chicago. He is the Chairman and CEO of SHVO, a real estate development company he founded in 2004. ...

who serves as the company Chairman and CEO.

History

2004-2012; Early history

SHVO was founded by real estate developer Michael Shvo in 2004. Prior to that time, Shvo worked as a real-estate broker with

Douglas Elliman Douglas Elliman is an American real estate company. Douglas Elliman employs more than 7,000 agents and has 113 offices in New York City and across the country. The company also has a number of subsidiaries related to real estate services such as ...

, the largest brokerage in New York. In 2003, at the age of 30, he achieved more than $300 million in sales from more than 400 deals, becoming the firm's top broker. Through 2008, SHVO performed $15 billion in real estate transactions worldwide, including Nurai, a private island off the coast of

Abu Dhabi Abu Dhabi (, ; ar, أَبُو ظَبْيٍ ' ) is the capital and second-most populous city (after Dubai) of the United Arab Emirates. It is also the capital of the Emirate of Abu Dhabi and the centre of the Abu Dhabi Metropolitan Area. ...

. Additional developments in New York included the Bryant Park Tower, The Lumiere on 53rd Street in Manhattan, Gramercy Starck designed by Philippe Starck, Jade by Jade Jagger, Fultonhaus, as well as Amangiri in Utah and Nizuc in Mexico. Between 2008 and 2013, Michael Shvo took a break from real estate to focus on art.

2013 to present

SHVO did not restart developments until 2013, initially purchasing a Getty Oil gas station at the corner of 10th Avenue and 24th Street in West Chelsea, Manhattan. It paid $23.5 million for the property which was a record price per buildable square foot in Manhattan. Prior to the development of the property, Michael Shvo turned the former gas station into a public art space. The site was then developed into a high-end luxury condominium named the Getty Building. In early 2014, SHVO announced the acquisition of eight properties located in

SoHo, Manhattan SoHo, sometimes written Soho (South of Houston Street), is a neighborhood in Lower Manhattan, New York City. Since the 1970s, the neighborhood has been the location of many artists' lofts and art galleries, and has also been known for its variet ...

, including parcels located between

Varick Street __NOTOC__ Varick Street runs north–south primarily in the Hudson Square district of Lower Manhattan in New York City, United States. Varick Street's northern terminus is in the West Village, where it is a continuation of Seventh Avenue South ...

Broome Street Broome Street is an east–west street in Lower Manhattan. It runs nearly the full width of Manhattan island, from Hudson Street in the west to Lewis Street in the east, near the entrance to the Williamsburg Bridge. The street is interrupted in ...

, and Watts Street. It paid $130 million for the site, with plans of turning it into a 30-story residential tower. It was reported by the New York Post that the project would potentially generate more than $800 million in sales. In August 2014, SHVO made a large land acquisition totaling approximately $240 million to develop one of the tallest towers in New York City and the tallest residential tower in Lower Manhattan. The project site is in direct proximity to the new World Trade Center complex, with proposed plans for the tower to rise upwards of 1,356 feet. In January 2015, SHVO went into contract to acquire an island, Matt Lowe's Cay, in Abacos, Bahamas, comprising 50 acres and seven private beaches. In 2015, it also acquired the majority of the

Crown Building The Crown Buildings ( cy, Adeiladau y Goron), which are also known as the Cathays Park Buildings, are the Welsh Government's main offices in Cardiff, Wales. The buildings were formerly used by the Welsh Office and are situated in Cathays Park ...

located at 57th Street and Fifth Avenue, in partnership with

Vladislav Doronin Vladislav Doronin (; born 7 November 1962) is an international real estate developer and art collector. He is the owner and chairman of Aman Resorts, chairman and CEO of OKO Group and is a co-founder of Moscow-based Capital Group. Early life an ...

. General Growth Properties and Wharton properties acquired the retail part of the building. The $1.8 billion purchase was one of the largest in New York City real estate history. The property was designed by

Warren and Wetmore Warren and Wetmore was an architecture firm in New York City which was a partnership between Whitney Warren (1864–1943) and Charles Delevan Wetmore (June 10, 1866 – May 8, 1941), that had one of the most extensive practices of its time and w ...

, architects of the

Helmsley Building The Helmsley Building is a 35-story skyscraper at 230 Park Avenue between East 45th and 46th Streets in New York City, just north of Grand Central Terminal, in Midtown Manhattan. It was built in 1929 as the New York Central Building and was d ...

and

Grand Central Terminal Grand Central Terminal (GCT; also referred to as Grand Central Station or simply as Grand Central) is a commuter rail terminal located at 42nd Street and Park Avenue in Midtown Manhattan, New York City. Grand Central is the southern terminus ...

. In 2016, it was revealed the property would be developed into an Aman Hotel and 26 apartments that will go by the name of AMAN New York Residences. In 2018, SHVO purchased the office portion of 685 Fifth Avenue, previously the headquarters of Gucci, from General Growth Partners (GGP), in partnership with Deutsche Finance Group, for 135 million dollars. It has since been disclosed that SHVO will be converting the building into ultra-luxury residences branded as the Mandarin Oriental Residences Fifth Avenue. In 2019, SHVO purchased Miami’s Raleigh Hotel, and the adjacent Richmond and South Seas Hotels, from

Tommy Hilfiger Thomas Jacob Hilfiger ( /hɪlˈfɪgər/; born March 24, 1951) is an American fashion designer and the founder of Tommy Hilfiger Corporation. After starting his career by co-founding a chain of jeans/fashion stores called People's Place in upst ...

along with partners Deutsche Finance America. Along with the same partners, SHVO purchased a property on

Wilshire Boulevard Wilshire Boulevard is a prominent boulevard in the Los Angeles area of Southern California, extending from Ocean Avenue in the city of Santa Monica east to Grand Avenue in the Financial District of downtown Los Angeles. One of the principal ...

for $130 million, which will be developed into the Mandarin Oriental Residences Beverly Hills, and 711 Fifth Avenue, previously the headquarters of The Coca Cola Company in New York, for $937 million. In 2020, SHVO and partners purchased 333 South Wabash known as Big Red in Chicago for $370 million, 530 Broadway in New York’s Soho district for approximately $380 million, and the

Transamerica Pyramid The Transamerica Pyramid is a 48-story futurist skyscraper in San Francisco, California, United States, and the second tallest building in the San Francisco skyline. Located at 600 Montgomery Street between Clay and Washington Streets in the ci ...

in San Francisco for $650 million.

Partial list of projects

References

{{Reflist

External links