Showing posts with label Michael Cohen. Show all posts
Showing posts with label Michael Cohen. Show all posts

Tuesday, July 2, 2019

A-Rod owns part of this building on Avenue D


[133 Avenue D via Streeteasy]

In early June, the Post reported that former Yankee Alex Rodriguez teamed up with real-estate veteran Barbara Corcoran to buy "a 21-unit rental tower" in the East Village. However, the two declined to divulge the address.

In a follow-up piece, the Post discloses that the property is 133 Avenue D, a building between Ninth Street and 10th Street.

That address made headlines last August when Michael Cohen, President Trump’s former personal attorney and fixer, sold his stake in the building. According to The Real Deal, Cohen — now serving a three-year sentence at Otisville Correctional Facility in upstate New York — sold four stakes to Vintage Group, his joint venture partner in the ownership of 133 Avenue D, for $4 million.

As for A-Rod, 133 Avenue D is his first foray into New York City real estate. However, his Monument Capital Management company owns about 15,000 apartments in 13 states. He plans on buying up more NYC properties. Per the Post:

A-Rod Corp. has teamed up with real estate investor and operator Ofer Yardeni of Stonehenge NYC and brokerage guru Adam Modlin of the Modlin Group in what they say is an exclusive as-yet-to-be-named venture to root out and purchase all sizes of apartment buildings and bulk condominium units in the Big Apple.

Previously on EV Grieve:
Report: Michael Cohen sells stake in Avenue D building

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.