NYC’s Mandarin Oriental Condo Developers Said to Eye Bulk Sale

Investors behind Manhattan’s Mandarin Oriental Residences are exploring an effort to offload the remaining unsold condos in a bulk deal, the latest setback for a partnership that has invested in billions worth of properties across the US.

The investor group behind 685 Fifth Ave., which includes developer Michael Shvo, tapped brokerage firm Eastdil Secured as it seeks to sell the rest of the units after years of struggling to find individual buyers, said people familiar with the matter who asked not to be identified citing private information.