Following Mercedes-Benz’s departure in January from the showroom it occupied at 430 Park Avenue since the late 1950’s, ownership is demolishing the space, The Commercial Observer has learned.
The demolition began last week following the luxury car dealer’s departure on January 7, when it consolidated its operations at its national headquarters at 770 Eleventh Avenue, sources confirmed, including Roque Toribio, a security guard at the Park Avenue location who was not authorized to give The Commercial Observer a peek at the space.
Charles Cohen is in the business of creating. As the president and chief executive officer of Cohen Brothers Realty Corporation, Mr. Cohen oversees a portfolio of properties and design centers in New York, Florida, Texas and California. He also executive produced the Academy Award-winning Frozen River and runs Cohen Media Group, a distributor and producer of foreign and independent films. Mr. Cohen’s father, Sherman Cohen, the developer who built CBRC into a powerhouse with his two brothers, died late last month at 91. And while Mr. Cohen politely declined to answer direct questions about his father, he did speak to The Commercial Observer about his legacy when discussing recent developments at the firm and in New York real estate. Mr. Cohen also spoke enthusiastically about the film industry and this year’s crop of new movies, which will be in the national spotlight when the Academy Awards airs this Sunday.
The Commercial Observer: In 2011, you told The Commercial Observer that you and the rest of the real estate industry were moving at 25 miles per hour. What was the speed in 2012?
Mr. Cohen: In New York, we’re going twice as fast as last year, but not fast enough.