SHVO
| Company type | Private |
|---|---|
| Industry | Real estate investment and development |
| Founded | 2004 |
| Founder | Michael Shvo |
| Headquarters | New York City , United States |
Area served | United States, International |
Key people | Michael Shvo (Chairman and CEO) |
| Products | Upscale real estate properties, luxury condominiums, resorts, hotels |
| Website | www |
SHVO is a real estate investment and development firm based in New York City, with additional offices located in Miami, San Francisco, Los Angeles, and Chicago. The company concentrates on the acquisition and development of upscale properties throughout the United States and internationally. Founded by Michael Shvo, who acts as chairman and CEO, SHVO specializes in premium real estate ventures.
2004-2012; Founding and initial growth
Michael Shvo launched SHVO in 2004, bringing with him extensive experience as a leading broker at Douglas Elliman, New York's largest brokerage firm. By the age of 30, Shvo had closed over 400 deals totaling more than $300 million in sales.
By 2008, SHVO had executed real estate transactions amounting to $15 billion worldwide, including the acquisition of Nurai, a private island near Abu Dhabi. Its prominent projects encompassed Manhattan developments such as Bryant Park Tower, The Lumiere on 53rd Street, Gramercy Starck designed by Philippe Starck, Jade by Jade Jagger, and Fultonhaus. The company also developed luxury resorts including Amangiri in Utah and Nizuc in Mexico. From 2008 until 2013, Shvo temporarily stepped back from real estate to pursue interests in the art world.
2013 to present
In 2013, SHVO re-entered the market by purchasing a former Getty Oil gas station at the intersection of 10th Avenue and 24th Street in West Chelsea, Manhattan, for $23.5 million—a record price per buildable square foot in Manhattan at that time. Michael Shvo initially converted the site into a public art installation before transforming it into the luxury condominium project now known as the Getty Building.
Early in 2014, SHVO acquired eight properties in SoHo for $130 million with plans to construct a 30-story residential tower expected to generate sales exceeding $800 million. Later that year, the company secured land near the World Trade Center for roughly $240 million to build one of New York City's tallest residential towers at 125 Greenwich Street. Following Shvo’s felony conviction in 2018, he was required to divest his interest in this development.
In January 2015, SHVO agreed to purchase Matt Lowe's Cay island in the Bahamas, spanning 50 acres and featuring seven private beaches. That same year, SHVO partnered with Vladislav Doronin to acquire a majority stake in the Crown Building at 57th Street and Fifth Avenue for $1.8 billion—one of the largest real estate deals in New York City history. This property is being redeveloped into AMAN New York Residences, which will combine an Aman Hotel with 26 luxury apartments. Subsequent to Shvo’s legal issues, he was removed from his role as co-developer on this project.
In 2016, Michael Shvo faced felony charges related to tax fraud and falsification of business records; he pled guilty in 2018 and settled with payments totaling $3.5 million covering taxes and penalties.
In 2018, SHVO purchased the office section of 685 Fifth Avenue (formerly Gucci's headquarters) from General Growth Partners and Deutsche Finance Group for $135 million. The building is undergoing transformation into ultra-luxury Mandarin Oriental Residences Fifth Avenue. In 2024, SHVO was sued by a purchaser alleging construction defects within this development.
In 2019, together with Deutsche Finance America, SHVO acquired Miami’s Raleigh Hotel along with the neighboring Richmond and South Seas Hotels from Tommy Hilfiger. After an unsuccessful transaction with LVMH’s Cheval Blanc brand, SHVO collaborated with Rosewood Hotel Group to manage the Raleigh starting May 2023. Additionally, SHVO and its partners purchased a Wilshire Boulevard property for $130 million to develop Mandarin Oriental Residences Beverly Hills and acquired 711 Fifth Avenue—formerly Coca-Cola’s headquarters—for $937 million.
The year 2020 saw SHVO broaden its holdings through acquisitions including Chicago’s Big Red building for $370 million, Soho’s retail property at 530 Broadway for about $380 million, and San Francisco’s Transamerica Pyramid for $650 million.
Select project overview
| Year(s) | Project Title | Description |
| 2020 | The Transamerica Pyramid San Francisco | A renowned 850-foot tall commercial and retail tower, acquired by SHVO and its partners in 2020, representing a major investment in iconic real estate. |
| 2020 | 333 Wabash Chicago (Big Red) | Office building in Chicago obtained by SHVO early in 2020, broadening its holdings within critical metropolitan areas. |
| 2020 | 530 Broadway | Prime commercial asset in Soho purchased by SHVO in March 2020, bolstering its retail and office property portfolio. |
| 2019 | 711 Fifth Avenue (Coca Cola Building) | Mixed-use commercial property with office and dining spaces, acquired to enhance SHVO’s presence in Manhattan. |
| 2019 | The South Seas & The Richmond Hotels | Art Deco hotels situated at 1751 Collins Avenue, Miami Beach, secured to support the Raleigh Hotel initiative within the “Raleigh Masterplan.” |
| 2019 | Raleigh Hotel (Miami Beach) | An Art Deco landmark at 1775 Collins Avenue, Miami Beach, bought from Tommy Hilfiger, forming part of SHVO’s targeted growth in upscale hospitality. |