Shaw Building $75 Million Home In New York

Aug 2 2012 | 11:11am ET

D.E. Shaw Group founder David Shaw is getting a new place to rest his head.

Shaw is building a new home in Hastings-on-Hudson, N.Y., a tony village about 10 miles north of Manhattan. In fact, he's been building it for about a year—and planning it for much longer—but he still won't get to move in for as much as another year.

The 30,000-square-foot home will cost $75 million to build, the New York Post reports, a figure that Hastings building inspector Deven Sharma disputes. In any case, the glass-and-concrete structure, which will be heated and cooled with geothermal energy, is likely to be the most expensive home in Westchester County when it is finished, no small feat.

The home will be three stories, including a basement, and will be shorter than the two houses that previously sat on the property. It is designed by star architect Steven Holl, best known for his museum work in Helsinki, Finland, and Kansas City, and for a dormitory at the Massachusetts Institute of Technology. There will also be an underground garage and covered pool with a tennis court on top, and two reflecting pools. And, the Shaws hope, eventually a guest house, although that has not yet been approved.

Despite all of that, Sharma said the mansion is "not imposing at all. You can barely see it from anywhere," although neighbors have worried that it would block their views of the Hudson River. "What we felt was of primary importance was to make a scheme that really was as sensitive to this landscape as possible," Noah Yaffe, of Steven Holl Architects, told the village planning board in January.

Shaw has spent some five years assembling seven properties into a 6.01-acre estate on the Hudson.


In Depth

Creating An Offshore Hedge Fund Dream Team: The Seven Key Players

Jun 26 2015 | 6:47am ET

If you want to set up an offshore hedge fund, like any great team, you’re only...

Lifestyle

Hedgies Set to Compete in Wall Street Decathlon

Jun 8 2015 | 12:37am ET

The Wall Street Decathlon — a 10-event physical challenge that will crown “Wall...

Guest Contributor

6 Essential Principles To Balance Your Investment Risk

Jun 26 2015 | 10:07am ET

In this article, financial expert Greg Silberman explores how to hedge a private...

 

Editor's Note