The World’s Best Address
Located on the illustrious Fifth Avenue, in the heart of New York City’s luxury retail and nestled among some of the world’s most luxurious hotels, 685 Fifth Avenue presents a once-in-a-lifetime opportunity to own a 5-star hotel serviced residence at the world’s best address.
The 20-story building, once the headquarters of fashion house Gucci, was originally built in 1928 and was known as the Dorothy Gray Building. At present, a brand new flagship Coach retail store occupies the first three floors, with Stuart Weitzman just to its south. The property will be redeveloped and ten additional floors will be added to the top of the tower.
Residential, Retail
Use
116,000
Square Feet
30 Floors
Floors
350 Feet
Height
To Be Announced
Architecture
To Be Announced
Interior Design
To Be Announced
Residences
To Be Announced
Hotel Suites
To Be Announced
Average Price per Square Foot
$360 Million
Project Value
Under Construction
Status
2021
Completion
Residential, Retail
Use
116,000
Square Feet
30 Floors
Floor
350 Feet
Height
To Be Announced
Architecture
To Be Announced
Interior Design
To Be Announced
Residences
To Be Announced
Hotel Suites
To Be Announced
Average Price per Square Foot
$360 Million
Project Value
Under Construction
Status
2021
Completion
685 Fifth Avenue will set a new standard for international travelers’ luxury experience.
In 2018, SHVO led the acquisition of 685 Fifth Avenue – the former Gucci headquarters, from Brookfield Properties (previously GGP). For this all-cash acquisition, SHVO brought together Bayerische Versorgungskammer, Germany’s largest manager of public pension schemes, Versicherungskammer Bayern Group, Germany’s largest public insurer, BLG Capital, and Deutsche Finance. Since the acquisition of the building, SHVO has also engaged international luxury hotel brand, Mandarin Oriental, to manage and service the residences.
Mr. Shvo’s unique vision for the property is directly aligned with its incomparable location at the heart of New York City’s Fifth Avenue, at the corner of 54th Street, steps away from Central Park. This exceptional property offers vast windows and ample light with over 200 feet of building façade open on three exposures, making it a perfect property for a residential conversion.
SHVO has been leading the development process with a team of world-renowned design experts and construction of the property began in 2018 The project is expected to be completed in late 2020. 685 Fifth Avenue will set a new standard for international travelers’ luxury experience.
Concept
Hotel Brand Selection
Acquisition
Design Commences
Construction Start
Construction Financing
Sales Start
Completion
