business / markets
2 hours ago

Michael Shvo Begins Construction on Miami Beach Luxury Condo Project

Michael Shvo Begins Construction on Miami Beach Luxury Condo Project
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7 Highlights
  • Shvo begins major work on Raleigh development in Miami Beach.
  • Project includes a condo tower, luxury hotel, and beach club.
  • Renowned architect Peter Marino designs the condo tower.
  • Shvo invested $100M in three months for the Miami project.
  • Investor seeks exit; Shvo confirms partner recapitalization.
  • Commercial firm Newmark involved in investor buyout talks.
  • Pre-sales fall short, but Shvo claims financial stability.
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