A Russian billionaire and his wife are facing foreclosures on an opulent penthouse at 15 Central Park West and a condo at The Plaza after listing the properties a year ago for over $100 million.
Valery Kogan, who made his fortune as the co-owner of Moscow’s Domodedovo Airport, and his wife, Olga, could lose their posh pads in a non-judicial foreclosure.
Miami-based Rok Lending initiated the U.C.C. foreclosure, alleging the property owners defaulted on $4.2 million in loan payments. Rok provided a $38 million loan to a company tied to the Kogans, which was secured by interests in the properties, according to property records.
An auction has been scheduled for September 25, based on a notice from auctioneer Maltz Auctions. The lender is allowed to credit bid using its existing debt.
Kogan’s net worth totaled $2.5 billion in 2014 by Forbes’s account. He and his wife have largely stayed out of the news — with the exception of their ostentatious real estate purchases.
The Kogans nabbed two of the units at The Plaza, 1007 and 1009, for $26 million in 2007, records show. They combined the units to build out a 5,047-square-foot residence overlooking Central Park.
The couple bought the 40th floor penthouse at 15 Central Park West for $22.7 million in 2008 from the building’s developer, the Zeckendorf Family.
Zeckendorf’s 15 Central Park West, also known as Limestone Jesus, was designed by Robert A.M. Stern. Its buyers include athletes, celebrities, and numerous Goldman Sachs bankers, including former CEO Lloyd Blankfein. Russian oligarch Dmitry Rybolovlev was also a buyer, who purchased a condo for his daughter Ekaterina.
The Kogans decided to list their New York City properties last year, hoping for about $100 million, the New York Post reported. They relisted the properties a few months later at a reduced price.
The listing for 15 West Central Park penthouse noted the unit was renovated “in the utmost opulent décor with 24 karat finishings throughout.” The “regal” residence had imported onyx and wood.
The Kogans purchased the units through LLCs, which list attorney Andrey M. Kaydin, as the manager.
The pair appears to be trying to get rid of their real estate holdings outside the U.S. as well.
In 2020, the Kogans put their 75,000-square-foot mansion in Caesarea, Israel up for sale for $259 million. The estate borders mimics a fake Venetian palace with two fountains of Roman sculptures and 14-carat gold moldings and crystal across the home, according to the Times of Israel.
This year, Kogan sold his Tel Aviv penthouse for $33 million. When Kogan purchased the seafront penthouse in 2009, it was the most expensive apartment sale in the country, according to Globes.
The couple sold their condo at 515 Park Avenue for $14.5 million last year, according to the New York Post. This year, the Kogans sold their seven-bedroom Greenwich, Connecticut estate for $10.4 million in May. They purchased the property for $18.5 million in 2005.
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