It’s been a disappointing summer so far for Michael Shubo.
Luxury real estate developer under lawsuit Stylish core cluband former friend Serdar Bilgili, who is battling over new Aman-branded properties, he is also negotiating with disgruntled residents of the Mandarin Oriental.
The owner of Schvo’s upscale apartment at 685 Fifth Avenue is upset that Schvo has allegedly held private concerts on his property and that the luxury property has hosted pool parties for Schvo’s children.
In a June 18 letter to Schvo’s lawyers, John Goodman, the residents’ lawyer (who is also suing), said: March match against Shubo Schvo claims the $6.1 million mansion is riddled with problems, including hosting pool parties on the Mandarin Oriental’s rooftop deck for his children’s friends and their parents, which he says is “clearly against the rules.”
“Mr. Schvo treats the apartment complex and its amenities as if they were his personal property, using them for his own benefit and enjoyment, ignoring the rules and rights of the residents,” the letter said.
The letter about the ongoing dispute adds that Goodman does not accept Shubo’s explanation that it was a promotional party to encourage the sale of units in the building.
“Unless Mr. Shubo is pioneering a bold new marketing strategy targeting children ages 6 and under, we find it unlikely that inviting swarms of children to the pool will lead to the sale of multi-million dollar condominium units,” the brief letter read.
Goodman’s lawyer, Adam Glassman, claimed Schvo’s family uses the luxury building’s swimming pool in a separate legal document sent to the building’s board dated June 26. The dispute has devolved into a flurry of legal documents in which each side accuses the other of wrongdoing.
“Mr. Schvo’s brother-in-law and sister-in-law, along with their friends, were observed trespassing on the property and using the pool equipment as if it were their own property,” the letter said.
The letter argues that such actions would be damaging, but also arrogantly states, “The unauthorized use of the property as an impromptu bed and breakfast or de facto public pool club is in direct contradiction to the promise of exclusivity and sophistication that inspired the owners to invest here. This is not a Holiday Inn Express – it is an ultra-luxury hotel managed by Mandarin and should meet the highest standards of confidentiality and excellence.”
Shuvo also allegedly hosted private concerts for friends at the property featuring his favorite singer, Antonis Lemos.
Mr Goodman is calling for Mr Schvo to be fired.
When contacted about the party’s allegations, a representative for Mr. Schvo declined to comment.
But Goodman’s representatives previously said of Goodman’s lawsuit: “This is a shameless attempt to use the courts and the media to extort money. Our developments are best in class and this is the only complaint of this nature at this property. Nevertheless, we went above and beyond the call of duty to accommodate individuals who wanted to make changes to their units after they had completed the transaction and moved into the property.”
At the same time, Shubo is also fighting a lawsuit from Core Club, which claims Shubo tried to take 50% control of the club for $1 but failed to deliver on promises to fund and build new clubs around the world.
Glassman is also Core’s lawyer.
Schvo’s lawyer in the Core lawsuit, Morris Misley, previously told The Post that the lawsuit was “a desperate attempt to prevent the Core Club owners from fulfilling the very clear obligations they committed to in a series of binding written agreements.”
Misley added, “We will not be coerced or threatened into lowering rent or making any other unreasonable concessions, and we intend to vigorously defend this lawsuit.”
According to The Washington Post, sources have previously suggested a settlement in the Core Club lawsuit could come sooner than expected.
Mr. Shuvo is also being sued by Mr. Birgil for $3.1 million. The Turkish businessman claims that Mr. Shuvo diluted his stake in Vlado Doronin’s Aman-branded condominium project at 730 Fifth Avenue. According to RealDeal.
