NYC’s real estate hits: Cohen, Paramount and Trump Park Avenue
The last week of August started with billionaire Charles Cohen landing a bit of equity while trying to wiggle out of a tough spot. Steve Roth’s Vornado Realty Trust signed an agreement to buy Cohen’s 623 Fifth Avenue for $218M, a sale that helps pay off Cohen’s nearly $200 million judgment to Fortress. The building, which stands 75 percent vacant, will be redeveloped into Class A office space. Albert Behler is not having the best run of it either and may be ready to cede control of his real estate investment trust, Paramount Group. The major office landlord is in […]
This article originally appeared on The Real Deal. Click here to read the full story.
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