SHVO is a privately held real estate investment and development company focused on high-end residential, hospitality, office, and mixed-use properties.
Last updated August 31, 2026
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Overview
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.
History
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.
- 2025
Alton Road project surrendered
[1]SHVO transfers its Alton Road mixed-use project to the lender through a deed-in-lieu-of-foreclosure.
- 2024
Mandarin Oriental Residences litigation
[1]A buyer files suit against SHVO alleging construction defects at Mandarin Oriental Residences Fifth Avenue.
- 2023
Rosewood named Raleigh operator
[1]SHVO announces Rosewood Hotel Group as the planned operator for the Raleigh redevelopment.
- 2020
Expansion into Chicago and San Francisco
[1]SHVO and partners acquire 333 South Wabash, 530 Broadway, and the Transamerica Pyramid.
- 2019
Miami Beach hotel portfolio acquired
[1]SHVO and partners acquire the Raleigh, Richmond, and South Seas Hotels.
- 2018
Guilty plea and 685 Fifth Avenue acquisition
[1]Michael Shvo pleads guilty in the tax case, while SHVO acquires the office portion of 685 Fifth Avenue with Deutsche Finance Group.
- 2016
Indictment of Michael Shvo
[1]Michael Shvo is indicted on charges including felony tax fraud and falsifying business records.
- 2015
Crown Building acquisition
[1]SHVO partners in the acquisition of the Crown Building at Fifth Avenue and 57th Street.
- 2014
SoHo assemblage announced
[1]SHVO acquires multiple SoHo properties for a proposed high-rise residential development.
- 2013
Return to active development
[1]SHVO acquires a former Getty Oil station in West Chelsea and begins the process that leads to the Getty Building.
Products and positioning
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.
Luxury residential condominium · 2013
Getty Building
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.
Branded residences and hotel · 2016
Aman New York Residences
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.
Branded residences · 2018
Mandarin Oriental Residences Fifth Avenue
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.
Branded residences
Mandarin Oriental Residences Beverly Hills
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.
Luxury hotel and mixed-use redevelopment · 2019
Raleigh Hotel redevelopment
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.
Commercial real estate asset · 2020
Transamerica Pyramid
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.
Luxury residential tower development · 2014
125 Greenwich
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.
Controversies
2025
Project surrender and Raleigh ownership dispute
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.
2024
Construction-defect lawsuit at Mandarin Oriental Residences Fifth Avenue
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.
2016
Tax fraud and falsified business records indictment
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.
Brand decisions
2023
Replace planned Cheval Blanc relationship with RosewoodStrategyBackground
The planned operator relationship for the Raleigh Hotel redevelopment changed after an arrangement involving Cheval Blanc did not proceed.
Action taken
SHVO announced Rosewood Hotel Group as the planned hotel operator.
Aftermath
The project subsequently remained associated with delays, funding problems, and an ownership dispute.
2016
Plan Aman hotel and residences at the Crown BuildingStrategyBackground
Following the Crown Building acquisition, SHVO and its partners sought to reposition the landmark property as a luxury hospitality and residential destination.
Action taken
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.
2013
Use public art to activate Getty site before redevelopmentStrategyBackground
SHVO acquired a former gas station in Manhattan's West Chelsea as part of its return to real estate development.
Action taken
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.
Recent events
Reported
SHVO and Mandarin Oriental announce Beverly Hills residences project[2]
SHVO announced plans for Mandarin Oriental Residences, Beverly Hills at 9200 Wilshire Boulevard, developed in partnership with Mandarin Oriental. The project is described as Mandarin Oriental’s first West Coast residential location.
Sources2 sources
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