Charles Cohen to sell Fifth Ave building at massive discount to Vornado
Billionaire Charles Cohen is eking out a little liquidity. Vornado has entered an agreement to buy Cohen’s Manhattan office tower at 623 Fifth Avenue for $218 million, the company announced Monday.  A sale would help pay off Cohen’s nearly $200 million judgement to Fortress Credit Corp. But the price was likely less than he was hoping for: The property was valued at more than three times that amount, $712 million, in 2023, according to a financial statement filed with the court.  Cohen’s fight with Fortress is a result of personally guaranteeing a $534 million loan portfolio. When the billionaire defaulted, […]
  This article originally appeared on The Real Deal. Click here to read the full story.
  Categories
Recent Posts

Hill House Home X Nestig Redefine Children’s Furniture With
A Whimsical, Sustainable Mini Chair Collection
 
Billionaire William Heinecke’s Minor International Aims To
Raise $1.5 Billion By Listing Hotel REIT In Singapore In
2026
 
Build-To-Rent Housing Leverages Demographics, Builds
Momentum
 
Smart Renovations That Boost Your Home’s Value And The Ones
That Don’t
 
Playing The Long Game: How To Manage Real Estate
Cycles
 
Billionaire Kwek Leng Beng’s CDL Sells 84% Of Residential
Towers Amid Singapore Property Boom
 
Think You Know Real Estate Seasonality In Manhattan And
Brooklyn? Think Again.
 
One In Five Homebuyers Willing To Pay $10K More For This
Feature
 
End Of Year Trend Report: The 5 Senses Redefine What “Home”
Feels Like
 
Why It’s An Exciting, Uncertain Time In Home
Improvement
 

