Developer Michael Shvo forced to sell iconic Miami hotel in latest setback

New York PostFriday, October 17, 2025 at 10:06:34 PM
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Developer Michael Shvo forced to sell iconic Miami hotel in latest setback
Developer Michael Shvo has faced significant challenges, leading to the forced sale of an iconic hotel in Miami. The project struggled with slow condo sales and stalled construction, compounded by a looming $190 million mortgage payment. This situation highlights the difficulties in the real estate market, especially in high-stakes developments, and raises questions about the future of similar projects in the area.
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