Michael Shvo And Serdar Bilgili Acquire Mixed-Use Property On 5th Avenue For $545M

711 5th Avenue, located in Midtown, was recently involved in a closed property transaction. The mixed-use asset encompasses approximately 340,000 square feet of space. The deal was facilitated by brokers Bob Tonnessen, David Sitt, and Mike Tepedino, representing the involved parties, including landlord Michael Shvo and Serdar Bilgili.

Summary of transation details

• Property Type: Mixed-use
• Transaction Amount: $545,000,000
• Lender: Goldman Sachs and Bank of America
• Landlord: Michael Shvo and Serdar Bilgili
• Brokers: Bob Tonnessen, David Sitt, and Mike Tepedino

This significant deal involved prominent individuals and institutions in the real estate industry. Notable lenders for the transaction were Goldman Sachs and Bank of America. The brokers, Bob Tonnessen, David Sitt, and Mike Tepedino, played a crucial role in facilitating the transaction between landlord Michael Shvo and Serdar Bilgili.