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Fortress offers Charles Cohen $534M for New York, Florida properties – Commercial Supervisor – TheServiceNow.com/idaho

Fortress Credit Company based in New York Cohen Brothers Realty Commercial Observers have learned that with loans totaling $533.6 million for properties in Manhattan and Fort Lauderdale, including those that survived foreclosure in 2020.

Restructuring comes as a company, led by billionaires Charles CohenTroubled with multiple lawsuits, custody, and at least one default.

In Manhattan, Fortress Credit — a division of Fortress Investment Group — Giving $100 million to Cohen Brothers to refinance 300,000 square feet 135 East 57th Street, An office building on Billionaires’ Row, according to property records in New York. According to mortgage documents, the loan includes a $10 million gap loan along with the current $90 million loan.

Another $251 million of the castle protected by 245 rooms Le Meridien Hotel Dania Beach And this American Design Center (DCOTA) The place where it was built according to recorded records in Broward County, Fla. hotel, at 1825 Griffin Street Near Fort Lauderdale Airport, completed in 2019.

in that year, Wells Fargo Initiated a $179 million foreclosure lawsuit against DCOTA Property.

The nearly 800,000-square-foot complex was built in the 80s as a collection of high-end furniture and fixtures, as well as a showroom for other design-related retailers. Charles Cohen bought the complex in 2005, but even after Cohen moved into office space, the property continued to struggle after the Great Recession.

Once Upon A Time, Online Pet Retailer Pursuit The campus takes up 100,000 square feet, but that’s nowhere near filling the void. Chevy has since announced that it will be transferred elsewhere in the district.

In 2020, Cohen Brothers signed an agreement with its lender. A company linked to Fort has refinanced a $112 million defaulted mortgage, real deal told about those days.

The third loan in the package is for the closed one Doral Arrow Wood Resort in Westchester County in New York. The 400-room golf resort closed in January 2020 and has been empty ever since. In May, Cohen proposed redeveloping the resort into luxury accommodation, according to local reports.

In addition to his real estate holdings, Cohen is a film lover who owns Landmark Theater chain through cohen media group And Curzon Cinema, British art house theater and distributor of the Oscar-winning film “Parasite”. The entity associated with the two companies is also referred to as the borrower in the loan documents, although this is not related to the dollar amount.

Of course, the last few years have not been an easy time for the cinema business either. In New York, for example, Durst Organization Cohen sued over Landmark Theater location 57 Westpermanently closed in 2020 for $48 million at discounted rates,

Cohen Brothers did not immediately respond to a request for comment.

One can reach here from Chava Gaurari [email protected],

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