The Art of Shvo: City Real Estate Stars Jet to Miami for Art Basel

Besides being Manhattan realty mavens, what do Michael Shvo, Louise Sunshine, and Dennis Mangone have in common? They’ve all fled New York this week for the well-tanned haven of Miami Beach, where Art Basel ("the most important art show in the United States, a cultural and social highlight for the Americas") began yesterday.

"My clients are collectors… They collect art, they collect Yachts, they collect condominiums, they collect lifestyle," said Mr. Mangone, a senior vice president at the Cororan Group. On the art fair’s first day, Mr. Mangone met a European gallerist who’s now interested in an apartment at 40 Bond, the hip new condo building developed by Ian Schrager.

Mr. Mangone says he’s already sold 14 units there. "Where are you going to put the great art," he said, "except in a great residence?" And it happens that 40 Bond’s Pritzker-winning designers, Herzog & de Meuron, are speaking tomorrow at the fair.

It’s harder to imagine Ms. Sunshine, the doyenne of Manhattan condo marketing, drinking rum at a waterside club alongside chiseled art collectors. "I’m living a different life. I really don’t have the time at the moment to go to many parties," she told The Observer in September. "But if Michael Shvo invited me to a party, I’d be pleased to attend." (Go for it, Michael.)

Back in New York, at 50 Gramercy Park North, another of Ian Schrager’s projects, a co-developer named Michael Fuchs put his own apartment there on the market earlier this year with Mr. Mangone. He asked $14.5 million–even though he paid just $9 million for it. The price came down a tad, according to Corcoran’s Web site, and it’s now gone to contract.

Maybe Mr. Mangone will buy some art, like Zaha Hadid’s six-digit table, to celebrate. The Art of Shvo: City Real Estate Stars Jet to Miami for Art Basel