Trouble again for Charles Cohen. Last month, the billionaire landlord’s Decorative Center Houston was scheduled to be sold off at a foreclosure auction on June 3, but the date came and went. Whatever agreement was worked out to delay the sale was short-lived. According to a public notice, the design center is once again scheduled to be auctioned off.

The sale is slated to take place July 1 at the Bayou City Event Center in Houston. According to the filing, the foreclosure sale stems from Cohen’s alleged default on a $50 million loan taken out in 2014 that listed the DCH as collateral. The original lender was a company called Ladder Capital Finance, but the foreclosure documents suggest that the debt has since been packaged into a bond overseen by Wells Fargo, which has in turn contracted a company called Torchlight Loan Services to collect.

Neither Torchlight nor Cohen’s real estate company, Cohen Brothers, responded to a request for comment.

According to a recent assessment by credit rating agency Morningstar, the DCH has faced financial troubles as of late. Their report pegs occupancy at 59 percent, down from 70 percent in 2020. Though recent Harris County appraisal records suggest the design center is worth $57.4 million, Morningstar says a 2025 appraisal put the value of the building at $43.3 million.

The report from Morningstar says that the DCH has been fighting foreclosure since January of this year, when the loan—part of a larger portfolio of commercial loans bundled into a bond—reached maturity and was not repaid. Though Cohen has managed to stave off a foreclosure sale until now, if his company is unable to work out a deal by July 1, the DCH will be sold off to the highest bidder. If that comes to pass, it’s likely that no buyer will emerge, and ownership will transfer to Torchlight in what’s known as a “credit bid.” The loan servicer will then presumably sell off the building to pay back bondholders.

This foreclosure drama in Houston comes hot on the heels of a string of troubles for Cohen. Last year, an ongoing legal spat with lender Fortress Investment Group over nonpayment on a $534 million loan led to a foreclosure auction that saw him lose the DCOTA. A judge also ruled that Fortress could pursue a $187 million personal guarantee Cohen made on the loan, which means that the company could repossess the billionaire’s direct assets, including homes and yachts.

Cohen has remained relatively quiet during this period. However, in January he granted an interview to Forbes, in which he insisted that his real estate portfolio was turning a corner and expressed defiance in the face of Fortress’s legal onslaught. “I’m not paying that personal guarantee,” Cohen told the publication. “I’ve got defenses, I’ve got an appeal pending in the appellate division. It’s not over by a long shot.”