A press release excitedly informed us that a cafe called Another Story will open this spring on the 14th floor of the Decoration & Design Building at Third Avenue and East 58th Street, “New York City’s premier destination for interior design and luxury showrooms, serving the design industry and leading global brands.”
The announcement quoted landlord Charles S. Cohen, “We look forward to welcoming this exciting addition and further enriching the experience for the design community and visitors.”
But it didn’t mention that embattled Cohen was given 45 days by a judge to settle nearly $190 million in debt he owes Fortress Investment Group. If he can’t raise the dough, Fortress can begin selling off Cohen’s remaining properties — including D&D. The court also agreed to the lender’s request to appoint a receiver to oversee the sales.
Cohen earlier unloaded other trophies in his once 12 million square-foot portfolio including 623 Fifth Ave. and 3 E. 54th Street — but it wasn’t enough to hold off Fortress.
[Notigroup Newsroom in collaboration with other media outlets, with information from the following sources]
