SHVO

SHVO is a privately held real estate investment and development company associated with luxury property projects in the United States and selected international markets. Founded in 2004 by Michael Shvo, the company emerged from its founder's earlier career as a New York real estate broker. Before establishing SHVO, Shvo worked at Douglas Elliman and became one of the firm's highest-producing brokers; the reference material states that he generated more than $300 million in sales across over 400 transactions in 2003. During its early years, SHVO participated in or promoted a wide range of high-end real estate transactions and development concepts. Projects and associated investments mentioned in reference material include the Nurai private island development near Abu Dhabi, New York properties such as Bryant Park Tower, The Lumiere, Gramercy Starck, Jade, and Fultonhaus, and hospitality or resort projects including Amangiri in Utah and Nizuc in Mexico. The company reportedly conducted substantial worldwide transaction volume before the global financial crisis. From 2008 to 2013, Michael Shvo stepped away from active real estate development to concentrate on art, after which SHVO resumed activity. The company's post-2013 strategy centered on acquiring prominent urban assets and repositioning them as luxury residences, branded residences, hotels, and mixed-use properties. One of its early comeback projects was the former Getty Oil service station at Tenth Avenue and West 24th Street in Manhattan's West Chelsea. SHVO acquired the site in 2013, temporarily used it as a public art venue, and subsequently developed it as the Getty Building, a luxury condominium project. The company later assembled properties in SoHo for a proposed residential tower and acquired an important development site near the World Trade Center for the proposed 125 Greenwich project. SHVO also built a portfolio through partnerships with institutional and international capital providers. In New York, it participated in the acquisition of the Crown Building at Fifth Avenue and 57th Street, with plans for an Aman-branded hotel and residences, and acquired the former Gucci headquarters at 685 Fifth Avenue with Deutsche Finance Group. That latter property was planned for conversion into Mandarin Oriental Residences Fifth Avenue. Other projects associated with SHVO include Mandarin Oriental Residences Beverly Hills on Wilshire Boulevard, 711 Fifth Avenue in New York, 333 South Wabash in Chicago, 530 Broadway in SoHo, and the Transamerica Pyramid in San Francisco. In Miami Beach, SHVO and partners acquired the Raleigh Hotel and the adjacent Richmond and South Seas Hotels in 2019. The plans evolved from an arrangement involving Cheval Blanc, an LVMH-owned luxury hotel brand, to a proposed operation by Rosewood Hotel Group announced in 2023. The Miami Beach project later became subject to prolonged planning, financing, ownership, and partnership difficulties. Reference material states that in 2025 SHVO surrendered an Alton Road mixed-use project to its lender through a deed-in-lieu-of-foreclosure and was later removed from ownership and development of the Raleigh project after a dispute involving a German pension fund. The company and its founder have also faced legal and reputational challenges. Michael Shvo was indicted in 2016 on charges including felony tax fraud and falsifying business records. He pleaded guilty in 2018 and paid reported taxes and penalties of $3.5 million. The conviction affected SHVO's involvement in certain developments, including 125 Greenwich and the Crown Building/Aman project. In 2024, a purchaser at Mandarin Oriental Residences Fifth Avenue sued SHVO over alleged construction defects. These events, together with financing and partnership problems affecting later projects, form an important part of the company's recent history. SHVO's current operating status and portfolio ownership require further verification.

SHVO was established in 2004 by Michael Shvo, following his rise as a high-performing New York real estate broker at Douglas Elliman. The company initially operated across a broad range of luxury development and investment opportunities. Its early portfolio and transaction history included residential projects in Manhattan, resort and hospitality developments in the United States and Mexico, and the Nurai private island project near Abu Dhabi. The company was associated with design-led properties such as Gramercy Starck and Jade, reflecting an emphasis on luxury branding and prominent architectural or design partnerships. By the period preceding the global financial crisis, the company was reported to have participated in approximately $15 billion of worldwide real estate transactions. Michael Shvo then spent several years concentrating on art rather than active real estate development. SHVO's development activity resumed in 2013 with the purchase of a former Getty Oil station in West Chelsea. The site was briefly transformed into a public art space before being redeveloped as the Getty Building, a high-end condominium project. This sequence became representative of SHVO's later model: acquiring distinctive or strategically located assets, adding cultural or design value, and repositioning them for the luxury market. In 2014 and 2015, SHVO pursued increasingly ambitious urban developments. It assembled several SoHo properties for a proposed residential tower and acquired a major development site near the World Trade Center for 125 Greenwich, a planned supertall residential tower. It also joined a partnership that acquired much of the Crown Building on Fifth Avenue. The Crown Building plans eventually incorporated an Aman hotel and private residences. SHVO later lost its role in the 125 Greenwich project and was removed as co-developer of the Aman-related development after Michael Shvo's criminal case. The legal matter began with an indictment in 2016 involving felony tax fraud and falsifying business records. In 2018, Michael Shvo pleaded guilty and paid reported taxes and penalties of $3.5 million. The conviction had direct business consequences, affecting SHVO's participation in major developments and contributing to changes in project ownership and partnerships. That same year, SHVO and Deutsche Finance Group acquired the office portion of 685 Fifth Avenue, the former Gucci headquarters, with plans for an ultra-luxury residential conversion under the Mandarin Oriental Residences brand. SHVO continued to expand through partnerships and acquisitions. In 2019 it acquired the Raleigh, Richmond, and South Seas Hotels in Miami Beach with Deutsche Finance America and other partners. The project was initially connected with Cheval Blanc, but a later plan announced Rosewood Hotel Group as operator. The company also pursued Mandarin Oriental Residences Beverly Hills, based on a Wilshire Boulevard property, and acquired 711 Fifth Avenue in New York. In 2020, SHVO and partners acquired the Big Red office building at 333 South Wabash in Chicago, 530 Broadway in Manhattan's SoHo neighborhood, and the Transamerica Pyramid in San Francisco. The later phase of SHVO's history was marked by development delays, financing pressure, disputes, and litigation. In 2024, a purchaser at Mandarin Oriental Residences Fifth Avenue brought a lawsuit alleging construction defects. In 2025, SHVO surrendered an Alton Road mixed-use project to its lender through a deed-in-lieu-of-foreclosure. Reference material also reports that SHVO subsequently lost ownership and development control of the Raleigh Hotel project after a prolonged period of stalled planning and funding and a dispute with a German pension fund. The company's present status, remaining ownership interests, and operating portfolio are not fully established by the supplied material.

1. 2025Alton Road project surrendered

   SHVO transfers its Alton Road mixed-use project to the lender through a deed-in-lieu-of-foreclosure.

   Source
2. 2024Mandarin Oriental Residences litigation

   A buyer files suit against SHVO alleging construction defects at Mandarin Oriental Residences Fifth Avenue.

   Source
3. 2023Rosewood named Raleigh operator

   SHVO announces Rosewood Hotel Group as the planned operator for the Raleigh redevelopment.

   Source
4. 2020Expansion into Chicago and San Francisco

   SHVO and partners acquire 333 South Wabash, 530 Broadway, and the Transamerica Pyramid.

   Source
5. 2019Miami Beach hotel portfolio acquired

   SHVO and partners acquire the Raleigh, Richmond, and South Seas Hotels.

   Source
6. 2018Guilty plea and 685 Fifth Avenue acquisition

   Michael Shvo pleads guilty in the tax case, while SHVO acquires the office portion of 685 Fifth Avenue with Deutsche Finance Group.

   Source
7. 2016Indictment of Michael Shvo

   Michael Shvo is indicted on charges including felony tax fraud and falsifying business records.

   Source
8. 2015Crown Building acquisition

   SHVO partners in the acquisition of the Crown Building at Fifth Avenue and 57th Street.

   Source
9. 2014SoHo assemblage announced

   SHVO acquires multiple SoHo properties for a proposed high-rise residential development.

   Source
10. 2013Return to active development

    SHVO acquires a former Getty Oil station in West Chelsea and begins the process that leads to the Getty Building.

    Source
11. 2004SHVO is founded

    Michael Shvo establishes SHVO as a real estate investment and development company.

    Source

A luxury-focused real estate investment and development platform pursuing architecturally prominent properties, branded residences, hospitality projects, and high-value urban assets, generally through partnerships with institutional investors, hotel operators, and luxury brands.

• Getty BuildingLuxury residential condominium2013

  A West Chelsea luxury condominium developed on the site of a former Getty Oil gas station. Before redevelopment, SHVO used the property as a public art space, linking the project to the company's design- and culture-oriented approach to urban real estate.

• Aman New York ResidencesBranded residences and hotel2016

  A planned luxury hospitality and residential project in the Crown Building at Fifth Avenue and 57th Street. The scheme included an Aman hotel and 26 private residences. SHVO was later reported to have been removed as co-developer after Michael Shvo's conviction.

• Mandarin Oriental Residences Fifth AvenueBranded residences2018

  A planned conversion of the former Gucci headquarters at 685 Fifth Avenue into ultra-luxury residences associated with the Mandarin Oriental brand. The project later became the subject of buyer litigation alleging construction defects.

• Mandarin Oriental Residences Beverly HillsBranded residences

  A planned luxury residential development based on a property acquired on Wilshire Boulevard in Beverly Hills. The project was intended to use the Mandarin Oriental residential brand.

• Raleigh Hotel redevelopmentLuxury hotel and mixed-use redevelopment2019

  A Miami Beach redevelopment involving the historic Raleigh Hotel and adjacent Richmond and South Seas Hotels. SHVO's plans changed from an intended Cheval Blanc relationship to a Rosewood Hotel Group operating arrangement announced in 2023. The project later encountered substantial delays and ownership conflict.

• Transamerica PyramidCommercial real estate asset2020

  A landmark San Francisco office property acquired by SHVO and partners in 2020. The acquisition represented the company's expansion into major landmark commercial assets outside New York.

• 125 GreenwichLuxury residential tower development2014

  A proposed supertall residential tower near the World Trade Center in Lower Manhattan. SHVO participated in assembling the development site but was later forced to sell its stake following Michael Shvo's felony conviction.

• 2023Replace planned Cheval Blanc relationship with RosewoodStrategy

  The planned operator relationship for the Raleigh Hotel redevelopment changed after an arrangement involving Cheval Blanc did not proceed.

  What changed. SHVO announced Rosewood Hotel Group as the planned hotel operator.

  Aftermath. The project subsequently remained associated with delays, funding problems, and an ownership dispute.

  Source
• 2016Plan Aman hotel and residences at the Crown BuildingStrategy

  Following the Crown Building acquisition, SHVO and its partners sought to reposition the landmark property as a luxury hospitality and residential destination.

  What changed. The project was announced with an Aman hotel and 26 private residences.

  Aftermath. SHVO was later reported to have been removed as co-developer after Michael Shvo's conviction.

  Source
• 2013Use public art to activate Getty site before redevelopmentStrategy

  SHVO acquired a former gas station in Manhattan's West Chelsea as part of its return to real estate development.

  What changed. The company converted the site into a public art space before developing a luxury condominium project.

  Aftermath. The property became the Getty Building and illustrated SHVO's preference for combining cultural programming with luxury real estate.

  Source

• 2025Project surrender and Raleigh ownership disputeControversy

  SHVO surrendered an Alton Road project to its lender and later reportedly lost ownership and development control of the Raleigh Hotel project amid financing and partnership disputes.

  Source
• 2024Construction-defect lawsuit at Mandarin Oriental Residences Fifth AvenueControversy

  A buyer at the Fifth Avenue project sued SHVO over alleged construction defects. The supplied material does not establish the final disposition of the case.

  Source
• 2016Tax fraud and falsified business records indictmentControversy

  Michael Shvo was indicted on charges that included felony tax fraud and falsifying business records. He pleaded guilty in 2018 and paid reported taxes and penalties of $3.5 million. The case affected SHVO's role in several major developments.

  Source

• 2023Rosewood selected as operator for Raleigh redevelopment

  SHVO announced Rosewood Hotel Group as the planned operator of the Raleigh after an earlier arrangement involving Cheval Blanc did not proceed.

  Other
  Source
• 2020SHVO expands portfolio with major Chicago, New York, and San Francisco acquisitions

  The company and its partners acquired 333 South Wabash in Chicago, 530 Broadway in SoHo, and San Francisco's Transamerica Pyramid.

  M&A
  Source
• 2019SHVO and partners acquire Miami Beach hotel properties

  SHVO, Deutsche Finance America, and partners acquired the Raleigh, Richmond, and South Seas Hotels in Miami Beach for a planned luxury redevelopment.

  M&A
  Source
• 2018SHVO acquires former Gucci headquarters at 685 Fifth Avenue

  SHVO and Deutsche Finance Group acquired the office portion of 685 Fifth Avenue, with plans to convert it into Mandarin Oriental Residences Fifth Avenue.

  M&A
  Source
• 2015SHVO acquires Crown Building and plans Aman-branded redevelopment

  SHVO and partners acquired a major portion of New York's Crown Building, later announcing plans for an Aman hotel and luxury residences.

  M&A
  Source
• 2013SHVO resumes development activity after period focused on art

  After a hiatus in which Michael Shvo focused on art, SHVO returned to active real estate development with the acquisition and redevelopment of a former Getty Oil station in West Chelsea.

  Other
  Source

1. SHVO