Michael Cohen optimistically drops $6.7M on a condo at Tribeca’s 111 Murray

Posted On Thu, July 12, 2018 By

Posted On Thu, July 12, 2018 By In Celebrities, Recent Sales, Tribeca

Photo of Michael Cohen via Wikimedia

As Michael Cohen put his $9 million Trump Park Avenue apartment as collateral against a bank loan this spring, the former personal lawyer of President Donald Trump was signing a deal for a $6.7 million pad in Tribeca. The Wall Street Journal reported on Thursday that Cohen, who is under federal investigation, bought a 19th-floor apartment in April at 111 Murray Street, a 792-foot-high condo tower designed by Kohn Pedersen Fox.

The skyscraper is being developed by Fisher Brothers, Witkoff and New Valley. Notably, the two latter companies are headed by longtime friends of President Trump: Howard Lorber, head of New Valley, and Steve Witkoff, founder of Witkoff.

Cohen’s unit went into contract in November of 2017, with the deal officially closing in April of 2018, public records show. He purchased the apartment with a $3.5 million short-term mortgage from the developers, instead of securing financing from a bank.

In May, Cohen put his apartment up against a $12.8 million in loans he took out in 2014 for his taxi medallions, which have dropped in value by 80 percent due to the rise of ride-sharing services.

And last month, Cohen’s father-in-law Firma Shusterman listed three apartments he owns in Trump World Tower at 845 United Nations Plaza. Just two of the units are listed by Trump International Realty: a three-bedroom unit, 57B, for $6.7 million and a two-bedroom unit, 42A, for $4.5 million.

[Via WSJ]

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Neighborhoods : Tribeca

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