Here’s what’s happening at the Raleigh Miami Beach redevelopment
Michael Shvo has had his fair share of issues across his career as a broker and developer, only to walk away unscathed. At 125 Greenwich, a planned 88-story high-end condo tower in downtown Manhattan, Shvo’s partners bought out his interest when he was indicted on tax evasion in 2016. The development group struggled to sell condos, and one of the project’s lenders stopped funding the project. Construction stalled and lender BH3 Management threatened to foreclose. Eventually, Fortress Investment Group took over the project. Shvo, who pleaded guilty and resolved his tax issues without a jail sentence, may have been the […]This article originally appeared on The Real Deal. Click here to read the full story.
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