SHVO, a real estate private equity firm and debt fund manager based in Manhattan, recently provided a $120 million first-mortgage loan for the remaining 50 residential units at The Mandarin Oriental Residences Fifth Avenue. This luxury property, located on the corner of 54th Street and Fifth Avenue, is managed by the renowned Mandarin Oriental brand.
The borrower for this transaction was SHVO’s partner Deutsche Finance. The property boasts 65 high-end residences with prices starting at $1.85 million.
According to Michael Shvo, founder and CEO of SHVO: “This deal is an important achievement for both SHVO and Mandarin Oriental Fifth Avenue as it showcases the strength of our brands.” He also highlighted that these premium residences are highly sought after as pied-à-terres due to their fully furnished turnkey living experience in one of New York’s most desirable neighborhoods.
Overall, this recent transaction further solidifies SHVO’s reputation as a leading player in New York City’s luxury real estate market.
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