Iconic Crown Building’s Conversion Moves Forward

730 5th ave. 

Plans to bring lavish a hotel and condominiums to the Crown Building are moving forward with developers Michael Shvo and Arman hotels owner and chairman Vladislav Doronin, bringing even more luxury to the southeast corner of Central Park.

The duo plan to convert floors four through 24 in the iconic buildings 57 floor, bringing Arman Hotel units along with 26 apartments that will go by the name of Arman New York Residences.

At 730 Fifth avenue, Shvo and Doronin paid $500 million for the upper floors in 2015 to Jeff Sutton’s Wharton Properties and General Growth Properties, which had paid $1.8 billion for the entire building earlier in the year.and are finalizing the project now.