Charles Cohen’s 750 Lexington Tower Slated for Foreclosure as Portfolio Struggles Mount

July 8, 2025 | New York City

Real estate mogul Charles Cohen is facing another financial blow as his 750 Lexington Avenue office tower heads toward foreclosure. A special servicer secured a summary judgment last week over a $130 million loan that Cohen personally guaranteed. The decision adds to a growing list of challenges for Cohen, including a previous $187 million judgment tied to a separate dispute with Fortress Credit.

The 31-story Midtown building—home to Cohen Brothers Realty’s headquarters—has seen steep financial decline since the pandemic. Once fully leased, occupancy has dropped to 69%, and the property’s net operating income has fallen by 74% since the loan's origination in 2015. In 2024, the building’s valuation was slashed to just $50 million, down from $295 million—a staggering 83% drop.

The lawsuit cited Cohen’s failure to pay property taxes, submit required financial statements, and confirm his net worth as breaches of his loan agreement. Meanwhile, Cohen is battling distress across his broader portfolio, including eight Midtown office towers and a troubled Houston asset now at risk of foreclosure.

Cohen’s personal wealth has also taken a hit, plunging from its 2023 peak by 57% to an estimated $1.6 billion. Recent asset transfers, including his Greenwich home and luxury yacht to a trust, have raised questions from creditors. While Cohen denies any wrongdoing, lenders like Fortress claim these moves were attempts to shield assets.

The foreclosure of 750 Lexington adds to the growing list of high-profile distress signals in New York’s commercial real estate market—especially as office values, occupancy, and investor confidence continue to falter.

Page updated

Google Sites

Report abuse