Following a major renovation of 711 Fifth Avenue, SHVO’s Michael Shvo has unveiled new plans to transform the building’s upper floors into an exclusive members-only destination. Core Club, a global social club, has entered into a 20-year lease with SHVO to occupy 60,000 square feet over four floors.
Originally completed in 1927, 711 Fifth Avenue in Midtown’s glittering Plaza District has famously served as the headquarters for NBC, Columbia Pictures and Coca-Cola. SHVO acquired the building in September 2019 and partnered with Peter Marino Architect to reposition it as a premier office tower with finishing touches more commonly found in hotels and resorts.
To fund the renovation, SHVO formed a joint venture with Deutsche Finance America and BLG Capital, who together secured $545 million in construction financing. The first renovation was completed in 2021.
When chartered in 2005, core club charter dues range from $15,000 to $100,000 and annual dues range from $15,000 to $18,000. The new club will feature two restaurants, large terraces, a full-service fitness center, 11 short-stay suites, five private meeting rooms, a spa, a beauty salon, a theater and the Dangene Institute, a treatment center for non-invasive cosmetic services.
The club’s original New York outpost was on East 55th Street and plans to debut CORE:NYC this September.
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