V
alery Kogan, a Russian billionaire who made his fortune as a co-owner of Moscow’s Domodedovo Airport, and his wife Olga could lose their luxurious pads due to a non-judicial foreclosure. The properties in question include a condo at The Plaza and an opulent penthouse at 15 Central Park West, both of which were listed for sale last year for over $100 million. The couple purchased these properties through LLCs, with attorney Andrey M. Kaydin listed as the manager.

    The foreclosure was initiated by Miami-based Rok Lending, who alleged that 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.

    The Kogans have been quite discreet about their real estate purchases, with the exception of their lavish acquisitions. They bought two units at The Plaza, 1007 and 1009, for $26 million in 2007 and combined them to create a 5,047-square-foot residence overlooking Central Park. They also purchased the 40th floor penthouse at 15 Central Park West for $22.7 million in 2008 from the building’s developer, the Zeckendorf Family.

    The Kogans have been trying to sell their New York City properties for some time now. They initially listed their properties last year for about $100 million but relisted them a few months later at a reduced price. The listing for the 15 West Central Park penthouse noted that the unit was renovated in "utmost opulent décor" with 24 karat finishings throughout. The "regal" residence featured imported onyx and wood.

    The couple is also looking to offload their real estate holdings outside the U.S. In 2020, they put their 75,000-square-foot mansion in Caesarea, Israel up for sale for $259 million. The estate is a replica of a Venetian palace, complete with two fountains of Roman sculptures and 14-carat gold moldings and crystal throughout the home. 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 Kogans have also sold their condo at 515 Park Avenue for $14.5 million last year and their seven-bedroom Greenwich, Connecticut estate for $10.4 million in May. They purchased the property for $18.5 million in 2005.