Mandarin Oriental to Manage Luxury Residences on Fifth Avenue, New York
Hong Kong, 14 February 2019 – Mandarin Oriental Hotel Group has announced an agreement to brand and manage 69 luxurious residences, located on Fifth Avenue New York, scheduled for completion in 2021.
Mandarin Oriental Residences at 685 Fifth Avenue are being developed in an elegant 1920's building on the corner of Fifth Avenue and 54th Street. The well designed private homes will offer the exceptional service for which Mandarin Oriental is renowned.
The Residences will feature a variety of facilities including a library and lounge on the top floor of the building, with clear views over Central Park. A fully equipped gym, a spa with beauty treatment rooms, and a rooftop pool with cabanas and lounge beds will all be serviced by Mandarin Oriental. The property will also offer an all-day dining restaurant.
The owners and developers of the project are SHVO, BLG Capital and Deutsche Finance America.
“We look forward to introducing a new collection of Mandarin Oriental Residences to New York. The development will offer owners a unique pied-a-terre lifestyle in an ideal location, steps away from Central Park and Manhattan’s renowned luxury shopping, museums and fine dining choices. Mandarin Oriental’s attention to detail and legendary service will enhance the living experience of the residents.” said James Riley, Group Chief Executive of Mandarin Oriental Hotel Group.
“What I love the most about New York City real estate is reimagining a living space, a building, and even the way we can interact with a world-renowned neighborhood,” said Michael Shvo, Chairman of SHVO. “We look forward to developing these unique Mandarin Oriental residences in the heart of Manhattan and creating this one-of-a-kind offering for buyers who demand the highest level of finishes and luxury services.”
Based in New York City, SHVO was founded in 2004 by Michael Shvo, Chairman and CEO. The company is dedicated to creating value by bringing innovative development concepts to life in premier locations for exclusive clientele. For further information visit https://www.shvo.com
About Bilgili Group
Bilgili Group is a leading real estate focused Turkish conglomerate and BLG Capital is its independently managed private equity real estate arm. For further information visit www.bilgiliholding.com and www.blgcapital.com
About Deutsche Finance
Deutsche Finance Group (“DFG”) is a global real estate investment management firm and Deutsche Finance America (“DFA”) is a subsidiary company which sources, structures and asset manages direct real estate investments in the United States. For further information visit https://dfamerica.com