A Star Broker Says a $141M Midtown Sale Left Him $1M Unpaid

Broker Bob Knakal has sued Charles Cohen of Cohen Brothers Realty, alleging he was never paid a commission of about $1 million on the sale of 3 East 54th Street to Vornado Realty Trust. The deed is on the public record at $141 million, and at the 0.75% rate Knakal says he was promised, the fee would be $1,057,500.

Why it matters

The recorded facts are simple. A deed dated January 7, 2026 and recorded January 13 moved the Midtown building from 3 East 54th New York LLC, in care of Cohen Brothers Realty, to 2 East 54th Street NY Property LLC, in care of Vornado, for $141,000,000. The fee is the part no record shows. As reported by The Real Deal and Crain’s, the complaint says Cohen brought Knakal in during June 2025 as a co-exclusive broker and that Knakal produced nine offers, including one from Extell. Cohen Brothers called the suit “frivolous litigation.” We could not reach the court docket, so the allegations here are the outlets’ account of the complaint, not our reading of it.

The numbers

Take 0.75% of $141,000,000 and you get $1,057,500, in line with the roughly $1 million the suit describes. Every quarter point of fee on this price is $352,500, which is why a verbal rate on a nine-figure sale is worth pinning down in writing before the first tour. The deed also shows the sale closed inside a debt story. A satisfaction of mortgage between the seller and Midtown Manhattan Lender LLC was recorded January 14, the day after the deed. The recorded price is also the only figure any fee could be measured against in court, since ACRIS does not show what was agreed between seller and broker.

What’s next

Watch for Cohen’s formal answer and whether the case turns on a written listing agreement or on the alleged oral promise. The deed will not change, but the fee could. For brokers, the practical lesson is the price-times-rate arithmetic above. More on deals across the boroughs is on the New York market page.