NYC Property Mogul Charles Cohen Sticks With Buy-and-Hold Plan in Crisis
- CMBS debt near $1 billion; half of loans have missed deadlines
- Pandemic will pass and ‘there’s no place like New York’
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All over Manhattan, trouble is brewing for billionaire Charles Cohen.
Rent collections lag at the Decoration & Design Building, his Midtown showroom palace for interior designers. He’s 60 days delinquent on loan payments for his 42-floor office tower at 3 Park Avenue South.