Michael Shvo to buy 22 Thames Street for $180M

Current owners bought the site for $87.5 million in 2012

From left: Michael Shvo and a rendering of 22 Thames Street
From left: Michael Shvo and a rendering of 22 Thames Street

Michael Shvo is in contract to buy 22 Thames Street, or 125 Greenwich Street, from Fisher Brothers and Steven Witkoff for approximately $180 million, according to the New York Post.

In September 2012, the current owners bought the site for $87.5 million.

Witkoff and the Fishers planned to build a 359,130 square-foot, 956 foot-tall project designed by Rafael Vinoly, with 70 floors of 6,489 square feet geared to rental units. But Shvo, according to the New York Post, will likely redesign the tower and turn it into luxury condos. There is no height limit on the site.

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Andrew Scandalios of HFF is the broker on the deal.

Shvo has two other developments planned, one at 239 Tenth Avenue and one at 100 Varick Street. This property, however, would make the most significant impact on the city’s skyline. [NYP] — Claire Moses