Real Estate
Michael Shvo and his frequent Turkish business partner Serdar Bilgili are paying $955 million for the Coca-Cola building — the second time the property has traded hands in recent months. Developers SHVO and Bilgili Group purchased the 354,000-square-foot building at 711 Fifth Avenue from Nightingale Properties and Wafra Capital Partners, according to people familiar with the matter. They were backed by Deutsche Finance and German pension fund BVK. The transaction includes close to $500 million.