From clockwise: Michael Shvo, Bill Zeckendorf, Sr., Andrew Chung and TRD analysis of NYS Attorney General and NYC Dept. of Finance filings, news articles and sources.
(Paydirt is a new weekly column that riffs on the biggest NYC real estate news of the moment, providing analysis and historical context on the deals and players that make this town tick.)
That’s Shvo business: New York real estate is a magnet for dreamers with chutzpah, but even among them Michael Shvo stood out. He moved from Israel with $3,000 and no plan and ended up pioneering a showmanship-heavy approach to selling that helped him break records as a broker. As a developer, he went right for the big fish: splashy condo projects with brand-name architects. Along the way, his signature traits — the custom suits, the swagger, the ruthlessness, the endless swigs of Diet Coke — became part of industry folklore, and Shvo became the guy the industry loves to hate. “In my 20 years in this business,” the Corcoran Group’s Pam Liebman told New York Magazine in 2005, “I have never seen one man inspire such across-the-board loathing.” [more]