New York-based SHVO has secured unanimous approval from the Miami Beach Planning Board for developing The Alton at 1656-1680 Alton Road in the heart of Miami Beach. Designed by Pritzker Laureate Lord Norman Foster and the team at Foster + Partners, in collaboration with local architect Kobi Karp, the six-story biophilic building will comprise 170,000 rentable square feet of office space, 17,000 square feet of ground floor retail, and five luxury residences, all strategically located at the intersection of Alton Road and the iconic Lincoln Road shopping district.
New York-based Shvo and its partners have secured a $190 million construction loan for the renovation and condominium addition at The Raleigh hotel at 1775 Collins Avenue in Miami Beach. The loan, provided by Fort Lauderdale’s BH3 Management through its BH3 Debt Opportunity Fund II, supports the partnership between Shvo, led by Michael Shvo, and the German firm Deutsche Finance. The loan encompasses The Raleigh, the Richmond Hotel at 1757 Collins Avenue, and the South Seas Hotel at 1751 Collins Avenue. The transaction was brokered by Walker & Dunlop.
New York-based real estate development and investment firm SHVO has secured unanimous approval for the revitalization of 407 Lincoln Road into a Class A ultra-luxury office property with an emphasis on high performance and sustainability. Just recently, the Historic Preservation Board reviewed plans for the redevelopment, led by Foster + Partners in collaboration with Kobi Karp Architects, with prominent members of the local community, including Howard Herring, President and Chief Executive Officer of New World Symphony; Lyle Stern, President of Koniver Stern Group; as well as the Miami Design Preservation League and Lincoln Road Business Improvement District, all expressing resounding support for the project.