Real Estate Rumors: Shvo, Morgan Stanley, GL Homes

June 7, 2022June 7, 2022 Admin

By Andrew McIntyre (June 7, 2022, 3:00 PM EDT) — New York developer Shvo has picked up a development site in Miami Beach for $39.3 million and will likely build an office property there, the South Florida Business Journal reported on Tuesday. The deal is for 1.38 acres on Alton Road and West Avenue, and the sellers are two entities managed by investor Robert Shor, according to the report.

Meanwhile, a venture of Morgan Stanley Real Estate and Metropolitan Realty Associates has picked up a Long Island City industrial property for $105.5 million, the Commercial Observer reported on Tuesday. The deal is for 27-11 49th Ave., a 220,000-square-foot property, and the…

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