Charles Cohen White Plains Lender Withdraws Foreclosure Suit

A piece of Charles Cohen’s real estate empire has been pulled back from the edge.

The office complex at 333 Westchester Avenue in White Plains has seen its foreclosure case withdrawn after the borrower came to an agreement with the lender.

The development follows Cohen and the company he leads, Cohen Brothers Realty, trying to outrun lenders for the past year, with mixed success.

Cohen Brothers bought the property in 1998 for $25 million. In 2004, a borrower connected to the company took out $77 million in loans on the property.

The foreclosure suit came in September 2025. The lender, the Union Labor Life Insurance Company, said the borrower failed to make monthly payments, failed to pay off the debt by its maturity and let $1.4 million in utilities debt pile up.

Two of the commercial condos in the complex are occupied and together pay a total of about $32,200 per month, the lender said in its complaint. A receiver was appointed to manage the property as the suit progressed.

But the lender agreed to withdraw the suit, relieving the receiver and putting Cohen Brothers back in charge. The parties have arranged to have the loan paid back at a later date, said David López, general counsel for the firm.

“The fact that we were able to work with the lender on this is just really a tribute to our relationship,” said López. “This is based on decades of a relationship.”

It’s a bright spot for Cohen, who has struggled to maintain control over his portfolio. Last year, Fortress Credit won a $187 million judgment against Cohen personally and the firm has been pushing to collect. Cohen has been selling off his buildings to pay off the debt, trading both 623 Fifth Avenue and 3 East 54th Street to Vornado for $218 million and $141 million, respectively.

In January, Cohen Brothers lost 750 Lexington Avenue, a legacy property for the firm and home to its headquarters, at a foreclosure auction.

Cohen Brothers is advertising leasing opportunities at the White Plains office complex. The four interconnected buildings on the site offer a cafeteria, fitness center, and shuttle bus service to downtown White Plains. The 39-acre office campus was originally constructed as the headquarters for General Foods Corp.