Michael Shvo

Shvo was raised in Arsuf, Israel, by parents who were both chemistry professors.[http://www.ynetnews.com/articles/0,7340,L-4436146,00.html Y Net News: "Ex-Israeli buys NYC site for record price" by Navit Zommer] October 10, 2013 He completed his military service in Israel and studied finance at Bar-Ilan University but received no degree. In 1996, he emigrated to the United States from Israel with only $3,000.{{cite news | last =Dunn | first =Jancee | title =No Business Like Shvo Business | newspaper =New York Mag| date =8 January 2014 | url =http://nymag.com/nymetro/realestate/features/11619/ | access-date =9 January 2014 }}

Shvo initially managed a fleet of taxis prior to landing a job as a real-estate broker with Douglas Elliman, the largest brokerage in New York.{{cite news | last =Sherman | first =Gabriel | title =Big Dealer Michael Shvo Bolts Elliman; For Start-Up | newspaper =New York Observer | location = | pages = | language = | publisher = | date =25 October 2004 | url =http://observer.com/2004/10/big-dealer-michael-shvo-bolts-elliman-for-startup/| accessdate =12 January 2014 }} 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.{{cite book | last =Gaines | first =Steven | authorlink = | title =The Sky's the Limit: Passion and Property in Manhattan | publisher =Hachette Digital, Inc. | series = | volume = | edition = | date =2005 | location = | pages = | language = | url = | doi = | id = | isbn =9780759513884 | mr = | zbl = | jfm = }} He created his own group within the firm and managed a staff of 27 people.

File:Transamerica Pyramid (16870350723).jpg, purchased by SHVO and partners in 2020.]]

Shvo left the firm in 2004 to launch his own international real estate firm, SHVO. His firm develops high end properties internationally.{{cite news | last =Marino | first =Vivian | title =Michael Shvo The 30-Minute Interview | newspaper =The New York Times | location = | pages = | language = | publisher = | date =1 October 2013 | url =https://www.nytimes.com/2013/10/02/realestate/commercial/michael-shvo.html?pagewanted=all| accessdate =5 April 2014 }} From 2003 through 2008, he performed $15 billion in real estate transactions worldwide, including Nurai, a private island off the coast of Abu Dhabi. 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,{{cite news | last =Lockhart | first = | title =Catching Up with Shvo: Fultonhaus, 20 Pine, and Friends | newspaper =Curbed| location = | pages = | language = | publisher = | date =25 January 2006 | url =http://ny.curbed.com/archives/2006/01/25/catching_up_with_shvo_fultonhaus_20_pine_and_friends.php| accessdate =9 January 2014 }} as well as Amangiri in Utah and Nizuc in Mexico. He was known for creating the marriage of fashion and real estate with his project 20 Pine Armani Casa, where Armani was hired to design the interior of the building.{{cite news | last =Abelson | first =Max | title =10 Pine: The Conniption | newspaper =New York Observer | location = | pages = | language = | publisher = | date =21 April 2009 | url =http://observer.com/2009/04/20-pine-the-conniption/| accessdate =12 January 2014 }}{{cite news | last = | first = | title =Kids don't really see sheep in the middle of New York at a gas station | newspaper =The Real Dal | location = | pages = | language = | publisher = | date =11 October 2013 | url =http://therealdeal.com/blog/2013/10/11/kids-dont-really-see-sheep-in-the-middle-of-new-york-at-a-gas-station-shvo-says-video/| accessdate =12 January 2014 }}

Shvo took a break from real estate in 2008, focusing on his interest in the art world. He got back into the real estate market in 2013, initially purchasing a Getty Oil gas station at the corner of 10th Avenue and 24th Street in West Chelsea, Manhattan.{{cite news | last =Heyman | first =Marshall | title =Sheepish at the Station | newspaper =The New York Times | location = | pages = | language = | publisher = | date =16 September 2013 | url =https://online.wsj.com/news/articles/SB10001424127887323527004579079344189607588 | accessdate =9 January 2014 }} He paid $23.5 million for the property which was a record price for per buildable square foot in Manhattan.{{cite news | last =Lescaze | first =Zoe | title =Do Art Collectors Dream of Concrete Sheep? Gas Station Gives Way to Les Lalannes Meadow | newspaper =Gallerist NY| location = | pages = | language = | publisher = | date =10 September 2013 | url =http://galleristny.com/2013/09/do-art-collectors-dream-of-concrete-sheep-gas-station-gives-way-to-les-lalannes-meadow/ | accessdate =9 January 2014 }}

Prior to the development of the Getty property, Shvo turned the former gas station into a public art space.{{cite news | last =Hughes | first =C.J. | title =Manhattan's Vanishing Gas Stations| newspaper =New York Times | location = | pages = | language = | publisher = | date =22 October 2013 | url =https://www.nytimes.com/2013/10/23/realestate/commercial/manhattans-vanishing-gas-stations.html?pagewanted=1&partner=rss&emc=rss| accessdate =5 April 2014 }} The inaugural show "Sheep Station" featured a white picket fence, grass and trees around the gas pumps, and 25 grazing concrete sheep sculptures by late artist François-Xavier Lalanne. The site has been developed into a high-end luxury condominium named The Getty Building,{{cite news |title=The Getty: The Little High Rise in New York |url=https://www.departures.com/art-culture/architecture/michael-shvo-and-peter-marino-luxe-getty-condo-building-west-chelsea-new-york |accessdate=27 September 2018 |publisher=Departures |date=6 December 2016}} with Peter Marino designated as the architect for both the interior and exterior of the project.{{cite news|last1=Wilson|first1=Reid|title=300 Lafayette Filings, Permits for Shvo's 239 10th Avenue, More|url=http://www.yimbynews.com/2014/09/dob-digest-300-lafayette-filings-permits-for-shvos-239-10th-avenue-more.html|accessdate=30 September 2014|publisher=New York Yimby|date=15 September 2014}}

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.{{Cite web|date=2018-08-03|title=Michael Shvo {{!}} GGP {{!}} 685 Fifth Avenue|url=https://therealdeal.com/2018/08/03/second-times-the-charm-michael-shvo-is-buying-685-fifth-avenue-again/|access-date=2021-12-15|website=The Real Deal New York|language=en-US}}

In 2019, Shvo made a number of purchases across asset classes. He purchased the Raleigh Hotel and the adjacent Richmond and South Seas Hotels from Tommy Hilfiger along with partners Deutsche Finance America.{{cite news |last1=Clarke |first1=Katherine |title=Fashion Mogul Tommy Hilfiger Sells Miami Beach Hotel He Aimed to Restore |url=https://www.wsj.com/articles/fashion-mogul-tommy-hilfiger-sells-miami-beach-hotel-he-aimed-to-restore-11550016241 |accessdate=5 March 2019 |publisher=The Wall Street Journal |date=12 February 2019}} The same year, Shvo purchased a long-vacant piece of land on Wilshire Boulevard for $130 million, which the company announced is going to be developed into the Mandarin Oriental Residences Beverly Hills, as well as 711 Fifth Avenue, previously the headquarters of The Coca Cola Company, for $937 million.{{Cite web|title=Mandarin Oriental to open first condo-only U.S. location in Beverly Hills (PHOTOS)|url=https://www.bizjournals.com/losangeles/news/2021/09/09/mandarin-oriental-condo-location-beverly-hills.html|access-date=2021-11-05|website=www.bizjournals.com}} In 2020, Shvo acquired the Transamerica Pyramid in San Francisco for $650 million, and began work on a $250 million renovation in 2022.{{cite news |last1=Li |first1=Roland |title=S.F.'s Transamerica Pyramid is getting a $250 million redesign, the biggest in its 50-year history|url=https://www.sfchronicle.com/sf/article/The-Transamerica-Pyramid-is-getting-the-biggest-17021701.php|access-date=3 April 2022 |work=SF Chronicle |date=22 March 2022}} Also in 2020, he acquired 333 South Wabash in Chicago, known as Big Red, for $376 million, and 530 Broadway in New York’s Soho district for $382 million.{{Cite web|date=2020-08-13|title=SHVO JV Completes $376M Purchase of Chicago's Big Red|url= https://www.commercialsearch.com/news/shvo-jv-completes-376m-purchase-of-chicagos-big-red/|website=Commercial Search|language=en-US}}{{Cite web|date=2020-03-11|title=Shvo partnership buys NYC retail building for $382M|url= https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/shvo-partnership-buys-nyc-retail-building-for-382m-57524796|website=SP Global|language=en-US}}

Shvo is one of several developers collectively pumping more than $2.5 billion into a handful of blocks along Collins Avenue, Miami. He has coined the project 'Billionaires Beach'.{{Cite news |date=2024-10-21 |title=The $2.5 Billion Plan to Transform Six Historic Blocks in South Beach |url=https://www.bloomberg.com/news/articles/2024-10-21/miami-s-billionaires-beach-is-a-six-block-stretch-of-ultraluxury |access-date=2024-11-06 |work=Bloomberg.com |language=en}}

{{main|SHVO}}

SHVO is a real estate development company founded by Michael Shvo in 2004. It purchases and develops high end properties in the United States and internationally. Notable properties purchased and developed by SHVO have included Transamerica Pyramid in San Francisco, Raleigh Hotel in Miami, Big Red in Chicago, and 711 Fifth Avenue in New York. As of 2021, the company has assets of approximately $8 billion.{{Citation needed|date=April 2024}}

Shvo has conceived several art projects, including Documents of Desire & Disaster, a retrospective of contemporary photographer David La Chapelle’s work.{{cite news | last =Jovanovic | first =Rozalia | title =Condo Kingpin Turns Chelsea Gas Station Into High-Art Sheep Pasture | newspaper =Blouin Art Info| location = | pages = | language = | publisher = | date =9 October 2013 | url = http://www.blouinartinfo.com/news/story/956516/condo-kingpin-turns-chelsea-gas-station-into-high-art-sheep | accessdate =12 January 2014 }} He partnered with Paul Kasmin Gallery & Serdar Bilgili, who owns the Akaretler area in Istanbul where the exhibition took place in December 2010.{{cite news | last =Edstrom | first =James | title =Michael Shvo In Art & Auctions Power List | newspaper =Time Square Gossip | location = | pages = | language = | publisher = | date =5 December 2013 | url =http://www.timessquaregossip.com/2013/12/michael-shvo-in-art-auctions-power-list.html | accessdate =12 January 2014 }}

Shvo also created Getty Station, a public art installation at the former getty station on 10th avenue and 24th street in Manhattan. He purchased the property in early August 2013 and transformed into a sheep’s meadow with 25 sheep sculptures by Francois Xavier Lalanne. Shvo collaborated with Paul Kasmin Gallery for the exhibit.

Shvo also curated the selling exhibition Les Lalanne: The Poetry of Sculpture along with Paul Kasmin at the S|2 Gallery of Sotheby's Auction House in New York.{{cite news | last = | first = | title =Les Lalanne: The Poetry of Sculpture | newspaper = Fahrenheit Magazine | location = | pages = | language = | publisher = | date =30 October 2013 | url =http://www.fahrenheitmagazine.com/en/fotogalerias-en-2/les-lalanne-the-poetry-of-sculpture-2/| accessdate =12 January 2014 }} It included rare Lalanne sculptures in a midnight garden setting.{{cite news | last =Kinsella | first =Eileen | title =Buyers Flock to Sotheby's "Les Lalanne: The Poetry of Sculpture" | newspaper =Blouin Art Info | location = | pages = | language = | publisher = | date =19 November 2013 | url =http://www.blouinartinfo.com/news/story/986037/buyers-flock-to-sothebys-les-lalanne-the-poetry-of-sculpture| accessdate =12 January 2014 }}

In 2019 Shvo created an exhibition at the Raleigh Hotel, a property he had purchased the same year.{{cite news |last1=Marr |first1=Madeleine |title=Gorillas and sheep are taking over South Beach at this new sculpture garden |url=https://www.miamiherald.com/miami-com/things-to-do/article237356259.html |accessdate=17 December 2019 |publisher=Miami Herald |date=14 November 2019}} Called "Les Lalanne at The Raleigh Gardens," it is a sculpture garden in memory of the French artist François-Xavier Lalanne.{{cite news |last1=Kallergis |first1=Katherine |title=Michael Shvo to unveil tropical gardens with LaLanne exhibit at the Raleigh |url=https://therealdeal.com/miami/2019/11/08/michael-shvo-to-unveil-tropical-gardens-with-lalanne-exhibit-at-the-raleigh/ |accessdate=17 December 2019 |publisher=The Real Deal |date=8 November 2019}}{{cite news |last1=Loiseau |first1=Di Benoit |title=Art Basel Miami Beach 2019. La guida di Vogue |url=https://www.vogue.it/news/article/art-basel-miami-beach-2019-guida-vogue |accessdate=17 December 2019 |publisher=Vogue |date=5 December 2019 |language=Italian}}

Shvo was listed as one of "New York's City Shapers" by The New York Observer in 2007{{cite news | last =Shott | first =Chris | title =New York's City Shapers | newspaper =The New York Observer | date =4 December 2007 | url =http://observer.com/2007/12/new-yorks-city-shapers/?show=all| access-date =9 January 2014 }} and made the magazine's list of 100 Most Powerful People in New York Real Estate in 2008.{{cite news | last =Medchill | first =Lisa | title =The 100 Most Powerful People in New York Real Estate | newspaper =The New York Observer | date =14 May 2008 | url =http://observer.com/2008/05/the-100-most-powerful-people-in-new-york-real-estate/| access-date =9 January 2014 }} He was also listed in Art+Auctions 2013 Power 100 List.{{cite news | last =Velsey | first =Kim | title =Michael Shvo, Developer Who Brought Us That Gas Station Sheep Meadow, Makes Art+ Auction's Power 100 List | newspaper =New York Observer | date =4 December 2013 | url =http://observer.com/2013/12/michael-shvo-developer-who-brought-us-the-gas-station-sheep-meadow-makes-art-auctions-power-100-list/ | access-date =5 April 2014 }}{{cite news | last =Garvey | first =Marianne |author2=Brian Niemietz |author3=Lachlan Cartwright | title =Anthony Weiner is in talks for a NYC radio program, says insiders, on either WOR or WABC | newspaper =New York Daily News | date =5 December 2013 | url =http://www.nydailynews.com/entertainment/gossip/confidential/weiner-show-radio-article-1.1537879| access-date =9 January 2014 }}

Shvo resides in New York City and The Hamptons with his wife, Seren Shvo. The couple has two children, Emma and Judah.{{cite web |title=Seren Ceylan ikinci kez hamile |url=https://www.cnnturk.com/magazin/seren-ceylan-ikinci-kez-hamile?page=2 |website=CNN |language=Turkish}}{{cite web |title=5 dakikada magazin turu (17 Haziran 2020) |url=https://www.posta.com.tr/5-dakikada-magazin-turu-17-haziran-2020-haber-fotograf-2261769-7 |website=Posta.com |language=Turkish}}

In 2016, Shvo was indicted on charges that included felony tax fraud and falsifying business records.{{cite web |title=Manhattan Developer Shvo Accused of $1 Million Tax Evasion |url=https://www.bloomberg.com/news/articles/2016-09-08/manhattan-developer-accused-of-evading-1-million-in-taxes?sref=TyMf2uoZ |website=Bloomberg}} {{cite web |title=Michael Shvo, Manhattan Real-Estate Developer and Art Collector, Pleads Guilty to Tax Evasion |url=https://www.wsj.com/articles/michael-shvo-manhattan-real-estate-developer-and-art-collector-pleads-guilty-to-tax-evasion-1524782893 |website=The Wall Street Journal}} He pleaded guilty to the charges in 2018,{{cite web |title=Prolific developer Michael Shvo indicted on tax evasion charges |url=https://ny.curbed.com/2016/9/8/12851358/michael-shvo-arrest-tax-evasion |website=Curbed}} and paid $3.5 million in taxes and penalties.{{cite web |title=Shvo settles tax evasion case |url=https://therealdeal.com/new-york/2018/04/26/shvo-settles-tax-evasion-case/ |website=The Real Deal}} SHVO was subsequently removed from major development projects in New York City, including Aman New York at 730 Fifth Avenue and 125 Greenwich.{{cite web |title=Michael Shvo benched at 125 Greenwich Street: sources |url=https://therealdeal.com/new-york/2017/02/01/michael-shvo-benched-at-125-greenwich-sources/ |website=The Real Deal}}{{cite web |title=Inside the ugly dispute between Michael Shvo and his partner pal |url=https://therealdeal.com/new-york/2020/09/17/shvo-to-hell-inside-the-ugly-dispute-between-michael-shvo-and-his-partner-pal/ |website=The Real Deal}}

• [https://www.wsj.com/articles/inside-a-power-brokers-homes-1461252457 New York Times feature - "Inside a Power Broker’s Homes"]
• [https://www.nytimes.com/2013/10/02/realestate/commercial/michael-shvo.html New York Times interview with Michael Shvo - October 2013]
• [https://www.bloomberg.com/video/the-business-of-marrying-art-and-real-estate-EU~0fqFjTwGEdCv6qE0FOw.html Marrying Art & Real Estate - Bloomberg interview with Michael Shvo]
• [http://www.artspace.com/magazine/interviews_features/collector_michael_shvo Artspace interview with Michael Shvo - January 2014]

{{reflist|2}}

• [http://www.shvo.com/ SHVO Official Website]

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Category:Living people

Category:20th-century American Jews

Category:American people convicted of tax crimes

Category:American real estate and property developers

Category:1972 births

Category:21st-century American Jews

Category:Israeli businesspeople in real estate

Category:Israeli emigrants to the United States

Category:Israeli people convicted of tax crimes

Category:Naturalized citizens of the United States