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ew York City real estate mogul Charles Cohen, 73, is facing a financial crisis as his business defaults on a massive $535 million loan from Fortress Investment Group. The loan, extended in 2022 to Cohen's firm, Cohen Realty Enterprises, was personally guaranteed by Cohen for $187.2 million. Despite having a net worth of nearly $2 billion, according to court filings, Cohen's assets are being seized by Fortress as the company seeks to recover the debt.

    The collateral for the loan includes several properties, including a Manhattan office tower and a hotel in Fort Lauderdale, Florida. However, these assets fall short of what Cohen owes, leading Fortress to target his personal wealth. The investment giant is seeking to confiscate Cohen's homes in Provence, France, and Greenwich, Connecticut, as well as his fleet of 25 luxury cars and five yachts.

    Cohen has already lost hundreds of thousands of dollars' worth of belongings from his 138-acre estate and vineyard in Provence following a French court order. The seized items include high-end furniture, valuable artworks, and fine wine. In a deposition, Cohen described Fortress's actions as relentless, saying "Enough was never enough."