Would you believe, that on last friday was broken the world record in price per square foot in real estates. One would have thought that this had happened before, in view of the large amount of money that the rich people have. Michael Shvo, a real estate developer and art collector and Victor Homes, a development and construction company, closed on the property at 239 Tenth Avenue in New York that overlooking at High Line for $23.5 million, which means that cost per buildable square foot came in at $850.
“This is truly a priceless property located at the nexus of the art world,” said Michael Shvo, President and CEO of SHVO. “239 Tenth Avenue will bring together an unparalleled group of creative talent to craft a new level of ultra-luxury residences. With leaders from the fields of art, architecture, design and hospitality, 239 Tenth is bound to raise the bar for development in New York City.” One of the most important parcels available in Manhattan’s West Chelsea art district has 5,530-square-foot site has 78 feet of frontage on Tenth Avenue, and an additional 70 feet on West 24th Street.