Michael Shvo and his partners Deutsche Finance and Partners Bilgili Group have landed a $120 million construction loan from CIM Group for 685 Fifth Avenue, the companies announced Wednesday. Shvo and his partners purchased the property in 2018 for $135 million. It is the former Dorothy Gray Building and was previously the global headquarters for Gucci. The developers got approval in February to convert the office portion of 685 Fifth Avenue into residential condos. Mandarin
source https://therealdeal.com/2019/12/18/shvo-partners-land-120m-construction-loan-for-685-fifth-avenue/
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