The Real Deal New York

Shvo takes office at 1WTC

The 84th floor office will overlook the site of the planned condo

December 22, 2015 08:05AM

125 Greenwich SHVO 1WTC

At left, One World Trade Center (credit: ArX Solutions) (inset: Michael Shvo)

Updated: 1:58 p.m., Dec. 23: Development firm SHVO, headed by Michael Shvo, is opening up a sales office at One World Trade Center for its new condominium tower planned for 125 Greenwich Street. The office will face south, overlooking the building’s site.

The firm has claimed 12,000 square feet on the 84th floor of the 1,776-foot-tall, 3.1 million-square foot tower, according to the New York Post. SHVO represented itself in the deal, while Karen Kuznick represented the landlord, the Durst Organization.

SHVO is developing a condominium tower rising 876 feet at 125 Greenwich Street, along with Bizzi & Partners and Howard Lorber. A total of 275 units spread across 360,000 square feet are planned for the Raphael Vinoly-designed building, to be completed in 2018.

Shvo, once a top broker at Douglas Elliman, has been busy of late. His firm is set to acquire the non-retail portion of 685 Fifth Avenue from General Growth Partners and Thor Equities. He’s also developing condos at 100 Varick Street.

Another firm, Juno Labs, a tech company, also took space on One World Trade Center’s 84th floor. It signed for 10,000 square feet. The asking rent was about $85 per square foot.

Karen Kuznick represented Durst in that deal as well. The Kaufman Organization’s Elliot Warren represented Juno. [NYP]Ariel Stulberg

Correction: A earlier version of this article misstated the year 125 Greenwich Street is expected to be finished as well as the unit count. SHVO filed new permits in November with a reduced unit count, down from 364.