Following last year’s purchase of 685 Fifth Avenue, developer Michael Shvo has announced a partnership with Mandarin Oriental Hotel Group to manage a collection of condominiums within the property. Rounding out the development team for the project is Turkish investment group Bilgili Holding and investment management firm Deutsche Finance.
Last year, Michael Shvo and Russian billionaire Vladislav Doronin agreed to pay $500 million for 20 floors of the Crown Building at 730 Fifth Avenue, on the corner of 57th Street. Now Shvo has filed plans to convert most of the 26-story office building into condominiums and a hotel.
Michael Shvo and Victor Group knocked down a gas station at 239 10th Avenue in Chelsea last year to make way for a glassy condo building. Now workers are installing facade panels on the building, which is under construction at the corner of West 24th Street.
By the end of June, the 12-story, six-unit mixed-use building under development at 239 Tenth Avenue, on the corner of West 24th Street in West Chelsea, was had been built up to the fourth floor. The project has since topped out, according to a Curbed NY report. The new 54,662-square-foot, 137-foot-tall building, dubbed The Getty, will include 13,437 square feet of commercial space on the cellar through second floors. There will be eight condominium units on the floors above. They should average 4,674 square feet apiece, and three of them will be duplexes. Amenities include private residential storage units and a fitness center. The penthouse apartment will feature a roof terrace. Victor Group and SHVO (headed by Michael Shvo) are the developers, and Peter Marino Architect is designing. Completion is expected in 2017.
The 11-story, six-unit mixed-use building under development at 239 Tenth Avenue, located on the corner of West 24th Street in West Chelsea, is now four stories above street level. The progress report comes from Curbed, and the site has been decorated with murals by local artist Rivka Katvan. Dubbed The Getty, it will eventually encompass 54,662 square feet, featuring 13,437 square feet of commercial space across the cellar through second floors, followed by two duplex units spanning the third and fourth floors, a single apartment per floor on level five through nine, and a duplex penthouse on the 10th through 11th floors (also featuring a roof terrace). The units, averaging 4,674 square feet apiece, will be condominiums. Victor Group and SHVO, are the developers, and Peter Marino is the architect. Completion can be expected in 2017. Previously, on multiple occasions, YIMBY brought you renderings of the project.