Michael Shvo

Michael Shvo

Hit by the Great Recession in 2008, star developer Michael Shvo did something most people in the industry don’t know how to do: He took a five-year break from the business and spent time focusing on art and non-real-estate-related endeavors.

Five years later, he came back in a new incarnation — this time as a developer — and cut a rush of deals. Shvo had been a very successful broker and building marketer, but he raised his professional stakes by investing his own money, in some cases with financial partners, to buy and build a new generation of premier New York real estate projects.

Shvo will join attendees in conversation at Global Connect on April 7 in New York City at the Mandarin Oriental to talk about the trends and threats to high-end real estate development and what developers, marketers and brokers must do to move projects through the pipeline to closed sales.

Learn how to navigate the changes in the global real estate market — register for Global Connect

Shvo is based in New York City, with branch offices in London, and Dubai. He is the CEO of SHVO, a real estate development company he founded in 2004. He is known for his development of high-end properties.

Life before real estate

Shvo was raised in Arsuf, Israel — both of his parents were chemistry professors.

He completed his military service in Israel and received a Bachelor of Arts in finance at Bar-Ilan University.

In 1996, he emigrated to the United States from Israel with only $3,000. He initially managed a fleet of taxis prior to landing a job as a real-estate broker with Douglas Elliman.

In August 2014, Shvo made a large land acquisition totaling approximately $240 million to develop one of the tallest towers in New York City and the tallest residential tower in Lower Manhattan. The project site is in direct proximity to the new World Trade Center complex with proposed plans for the tower to rise upwards of 1,356 feet.

In January 2015, Shvo went into contract on an acquisition of an island, Matt Lowe’s Cay, in Abacos, Bahamas, comprising 50 acres and seven private beaches. Later last year, he also acquired the majority of the Crown Building located at 57th and Street and 5th Avenue. General Growth Properties and Wharton properties acquired the retail part of the building.

The $1.8 billion purchase was one of the largest in New York City real estate history.

Learn how Michael Shvo built his real estate empire — register for Global Connect

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