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Midtown office property at 135 East 57th Street is on the market after a court ruling stripped billionaire Charles Cohen of ownership. The curved tower, situated along Billionaires' Row, was put up for sale following a legal order against Cohen Brothers Realty's head. This move comes after the Wallace family, who own the land beneath the building, spent over a year battling Cohen in New York State Supreme Court.

    The dispute began when landlord William Wallace sued to evict Cohen, citing office vacancies and low demand. Cohen responded by blaming Wallace for an "unreasonable refusal" of a plan to convert the property into a residential condominium. He defaulted on the lease in early 2023 and stopped paying city property taxes, amounting to over $8 million.

    A judge signed an order backdating Cohen's eviction to June 26, but some tenants may have paid him their July rents. The Wallace family is now open to either a new ground lease or a full sale, with all options on the table. Current office and retail tenants who don't have non-disturbance agreements will need to look to the ground owners or the building's new operator/owner to honor their leases.

    Designed by Kohn Pederson Fox, the 1988-era tower features 425,000 square feet of space and a unique curved design. The property includes a parking garage, loading dock, retail space, and floor-to-ceiling windows. Offers are being submitted through JLL's Andrew Scandalios, who declined to comment on the marketing efforts.