Foreclosure threat in Garment District adds to Mike Kohan’s troubles
Mall mogul Mike Kohan’s problems aren’t limited to Chicago. The Davis Companies filed to foreclose on Kohan’s property at 345 Seventh Avenue in Manhattan’s Garment District, Crain’s reported. Kohan is accused of defaulting on a $73 million loan backed by the property, along with three other buildings. Davis, which acquired the mortgage a month ago, alleges Kohan missed last month’s debt payment, fell behind on bills and didn’t resolve building violations. Kohan and colleague Yael Kohansieh allegedly owe nearly $72 million on the debt, including interest, late charges and back taxes. Davis is seeking to potentially foreclose upon the four […]
This article originally appeared on The Real Deal. Click here to read the full story.
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