Thursday, August 23, 2018

Report: Michael Cohen sells stake in Avenue D building

[133 Avenue D via Streeteasy]

Michael Cohen, President Trump’s former personal attorney and fixer who pleaded guilty to eight criminal counts in federal court on Tuesday, has reportedly sold stakes in two buildings, including one on Avenue D.

According to The Real Deal, Cohen sold four stakes to Vintage Group, his joint venture partner in the ownership of 133 Avenue D, for $4 million.

Back in April, Bloomberg reported that 133 Avenue D, which is between Ninth Street and 10th Street, had at least $5 million of equity not tapped by a mortgage.

Cohen and Vintage Group bought No. 133 — which has 20 apartments as well as two retail spaces — for $10.5 million in 2015. Per TRD: "It’s not clear what percentage of it Cohen owned and how much the value has changed overtime."

Streeteasy lists one unit available for rent in the building — a recently renovated three-bedroom apartment with an ask of $3,195 per month.

On Tuesday, Cohen pleaded guilty to eight counts related to tax fraud, excessive campaign contributions, making false statements to a financial institution and unlawful corporate contributions.


Giovanni said...

I smell a Jared Kushner connection here. Can you say frontman?

Scuba Diva said...

Well, sure: there's this newly-reno'd apartment renting for $3195, but for an Avenue D building, you just know there are apartments in it that are still renting for $400 a month.