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NEW YORK CITY — Art collector and real estate developer Michael Shvo, president and CEO of SHVO, and his partner Victor Homes, have closed on the purchase of a 5,530-square-foot residential development site in Manhattan for $23.5 million. The price per buildable square foot was $850, the highest amount ever paid for a residential development site in New York City, according to Shvo. The site, 239 Tenth Avenue, is located in Manhattan’s West Chelsea arts district and includes 78 feet of frontage on Tenth Avenue and an additional 70 feet on West 24th Street. Shvo plans to develop a luxury residential property on the parcel.