Here's your Forbes Daily Briefing for Monday, January 27th.

Today on Forbes, inside a real estate billionaire's fight to revive his aging empire.

On January 15th, real estate billionaire Charles Cohen called Forbes from a no-caller ID phone, as he always does.

For four months, Forbes had been trying to get Cohen

to sit down and discuss the mounting debt and vacancies at the buildings owned by his real estate

firm, Cohen Brothers Realty. In September, he said to check back in November. In November, he said

to call in January. A couple of weeks ago, Cohen said he was going on vacation.

He didn't specify where, but he often jets to his vineyard in the south of France, Chateau

de Choues, or his Palm Beach penthouse. He also has apartments in West Hollywood and Manhattan,

and a sprawling home in Greenwich, Connecticut. Then Cohen asked if the story could be delayed once

again for four to

six weeks, when he would explain how his firm had, quote, turn the corner. He mentioned several

refinancings and new leases he claimed or in the works, and said, quote, if you run a negative story,

it's going to hurt me. It makes it harder for us to rent when people think there's a

problem that really isn't a problem. Cohen finally relented, only after Forbes explained, the story

would run regardless, and had his executive vice president sit down with Forbes to go over

financials. There is no doubt that Cohen, who took over his father and uncle's firm in the 1980s,

and expanded it by building and buying prime office towers in Midtown Manhattan,

now finds himself in a tricky spot.

Since the pandemic emptied offices, many of his prized properties lost tenants.

At least six of his buildings sit more than 20% empty, with three of those less than

60% occupied. At the same time, he struggled to make payments on at least $1.1 billion in debt,

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