January auction set for Cohen Brothers’ 750 Lexington, $155.9M judgment

The referee managing the sale of Cohen Brothers Realty’s Lenox Hill office tower, 750 Lexington Avenue, set January 21, 2026 as the foreclosure auction date for the asset. The timing was disclosed in a notice of sale published December 19. The sale date will be 19 months after the special servicer initiated the foreclosure process, in May 2024, in New York State Supreme Court in Manhattan.

The Real Deal first reported the auction date earlier this month. The total judgment as of this month was $155.97 million.

Case 652439/2024 LINK

The special servicer for a $130 million loan originally given to Cohen Brothers Realty in 2015 and secured by the office tower at 750 Lexington Avenue in Lenox Hill, filed a pre-foreclosure action May 10, 2024, in New York State Supreme Court in Manhattan, alleging that loan was in default.

The special servicer, LNR Partners, through the entity Series 2015-GC34 alleged the $130 million loan secured by the office tower Cohen Brothers Realty owns through the entity International Plaza Associates L.P. at 750 Lexington Avenue was in default.

The Real Deal reported in 2024 that the property valuation was cut by 83 percent, citing a Morningstar Credit report.

This filing added to the challenges facing Charles Cohen‘s company.

In March 2024, PincusCo first reported Fortress Investment Group sued Cohen Brothers  over a $533 million loan.

The property

The office building in Lenox Hill has 386,287 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 200 feet and is 125 feet deep with a total lot size of 24,602 square feet. The lot is irregular. The zoning is C5-2 which allows for up to 10 times floor area ratio (FAR) for commercial and up to 10 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $161.8 million.

Prior sales, articles and revenue

The 386,287-square-foot property generated revenue of $26 million or $67 per square foot, according to the most recent income and expense figures.

Violations and lawsuits

According to city public data, the property has received $7,775 in OATH penalties in the last year.

The property was involved in one lawsuit and zero bankruptcies over the past two years. The suit was a $130 million commercial foreclosure concerning a loan filed on May 10, 2024, by Series 2015-GC34 and LNR Partners against Cohen Brothers Realty and Charles Cohen.

The neighborhood

In Lenox Hill, The bulk, or 34 percent of the 53.3 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 30 percent of the space. In sales, Lenox Hill has the highest sale turnover among other neighborhoods in the city with $4.5 billion in sales volume in the last two years. For development, Lenox Hill has near average amount of major developments among other neighborhoods and is the 19th highest in Manhattan. It had 2.1 million square feet of commercial and multi-family construction under development in the last two years, which represents 4 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of four of the seven commercial properties representing 405,355 square feet of the 1,637,086 square feet. The largest owner is Glorious Sun Group, followed by Joon S. Park and then Loancore Capital. There are no active new building construction projects on this tax block.

The surrounding

Within a 400-foot radius of 135 East 59 Street, PincusCo identified five commercial real estate items of interests occurred over the past 24 months. Of those five items, five were sales above $5 million totaling $78.4 million. The most recent of the five was JPB Enterprises which bought the 8,450-square-foot, 10-unit rental (C7) on 130 East 61st Street for $7.3 million from Forkosh Development on October 16, 2025.

Direct link to the property’s ACRIS page and link to DOB NOW portal.