In May 2014, a super-skinny, supertall tower was rising above the ground at 432 Park Avenue. The Rafael Viñoly-designed building ultimately topped out at 1,396 feet, making it the tallest residential building in the Western Hemisphere. At the time, Michael Shvo, the flamboyant real estate broker-turned-developer, was looking to make a splash on the New York real estate scene, and an opportunity emerged across the street from One World Trade: another Viñoly-designed supertall to be called 125 Greenwich. It would be Downtown’s answer to 432 Park — if not in price, in appearance. But by the start of September this year, the tower was only three-quarters built, it had no construction loan, internal legal battles had flared and Shvo had pleaded guilty to tax evasion charges. The remaining parties were facing a $500 million shortfall. Want to know what happened next?
Find out at link in bio.
✍ David Jeans
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