After dropping its price from $25,000 to $18,500 a month on November 12th, Michael Cohen’s ill-fated Tribeca condo went into contract on Tuesday, 6sqft uncovered. The timing could not be more perfect for Trump’s former personal lawyer, who pled guilty today in federal court to lying about previous dealings with Russia. Cohen bought the condo at 111 Murray Street for $6.7 million in July but promptly put it on the rental market in August. Apparently, he bought the apartment as an “investment” when he faced pressure to defer the taxes on the $3.3 million sale he made last year on his Trump World Tower apartment. As we explained. “by closing on a new unit, he was able to take part in the 1031 exchange that allows investors to roll proceeds from one transaction over to another.”
After a price chop to $18,500/month, Michael Cohen’s Tribeca condo goes into contract, Thu, November 29, 2018
Kushner Cos., Michael Cohen accused of falsifying construction permits at rent-controlled NYC buildings, Tue, August 28, 2018
237 Henry Street via Google Earth
Kushner Companies, run by the family of Donald Trump’s son-in-law Jared Kushner, allegedly falsified construction permits as a way to remove rent-regulated tenants from their New York City buildings, the New York Times reported. The city’s Department of Buildings on Monday fined the Kushner Cos. $210,000 for 42 violations of submitting false applications across 17 buildings. According to a tenant activist organization, Michael Cohen, Trump’s former attorney, also falsified documents at three of his properties in Manhattan at 237 Henry Street, 172 Rivington Street and 235 East 27th Street.
Celebrities, Cool Listings, Tribeca
Michael Cohen lists Tribeca condo as a $25,000 rental just four months after buying it, Tue, August 14, 2018
Photo of Michael Cohen via Wikimedia
As they say, never underestimate desperate people. In May, Michael Cohen, the disgraced former personal lawyer of Donald Trump who is now under federal investigation, put his $9 million Trump Park Avenue apartment on the market as collateral against a bank loan. So it was a bit surprising when he turned around dropped nearly $7 million on a condo in Tribeca’s flashy new condo tower 111 Murray Street. But it makes a bit more sense now, as The Real Deal learned that Cohen has listed the 19th-floor apartment as a $25,000/month rental. He made the purchase as an “investment” after allegedly facing pressure to defer the taxes on the $3.3 million sale last year of his Trump World Tower apartment; by closing on a new unit, he was able to take part in the 1031 exchange that allows investors to roll proceeds from one transaction over to another.
Celebrities, Recent Sales, Tribeca
Michael Cohen optimistically drops $6.7M on a condo at Tribeca’s 111 Murray, Thu, July 12, 2018
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.
Policy, Turtle Bay
Michael Cohen’s inlaws list three condos at Trump World Tower amid legal battle, Mon, June 18, 2018
Photo of Michael Cohen via Wikimedia; listing photo via Trump International Realty
As President Donald Trump’s personal attorney, Michael Cohen, faces mounting legal fees, his family is looking to sell three condominium units at a 72-story Trump building in Manhattan. Bloomberg reported Friday that Cohen’s father-in-law Fima Shusterman wants to sell three apartments he owns in Trump World Tower at 845 United Nations Plaza. Just two of the units are listed on the Trump International Realty website: a three-bedroom unit, 57B, for $6.7 million and a two-bedroom unit, 42A, for $4.5 million. Not listed but still for sale, the family’s 43rd-floor apartment was purchased in 2003 for $1.85 million, but the current price is not yet known.
Michael Cohen puts up $9M Trump Park Avenue apartment as collateral against bank debt, Wed, May 9, 2018
Photo of Michael Cohen via Wikimedia; image of Trump Park Avenue via Google Earth
Michael Cohen, the longtime attorney for President Donald Trump, has put up his family’s Park Avenue apartment as collateral against a bank loan worth millions of dollars. The bank valued Cohen’s condo, fittingly at Trump Park Avenue in Lenox Hill, for $9 million. The financially troubled lawyer is putting his apartment against $12.8 million in loans he took out for his taxi business in 2014. Cohen secured these loans by New York City taxi medallions, which have dropped in value by 80 percent due to the growth of ride-sharing services, according to Bloomberg.