Lender wins foreclosure sale for Mike Kohan’s Garment District office building
The Davis Companies won a UCC foreclosure auction for embattled mall mogul Mike Kohan’s Garment District office building, despite a last-ditch attempt by a group of Great Neck investors to stop the sale. In a lawsuit filed Tuesday against the mezzanine lender The Davis Companies, 17 investors in a Kohan-controlled entity, most from the ritzy Long Island enclave, alleged the foreclosure process at 345 Seventh Avenue was defective and could result in the property selling for less than its value. Their temporary restraining order was denied and Davis Companies used a credit bid to acquire an equity stake in 345 […]
This article originally appeared on The Real Deal. Click here to read the full story.
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