SAC's Cohen Buys West Village Properties

Apr 22 2013 | 10:52am ET

SAC Capital Advisors founder Steven Cohen is in the midst of a frenzied real-estate deal-making spree.

The hedge fund manager recently bought a $60 million East Hampton home down the block from his current Long Island getaway, and listed his Midtown Manhattan duplex for $115 million. Now comes word that he's bought the site of a failed hotel project in the West Village for $38.8 million.

The site, 145 Perry Street, at the corner of Washington Street, currently houses a freight-loading station and a two-story row of storefronts along Washington. But Cohen hasn't stopped there, buying an apartment at the Abingdon, a recently-renovated apartment building a few blocks to the north and east as he works on his Perry Street plans, the New York Post reports.

It is unclear how much Cohen paid for his Abingdon digs, but recently a 5,900-square-foot unit in the building went for $13.2 million.

The Perry Street site was purchased by Cohen's Greenwich Heights Corp. Until recently, it had been slated to house a boutique hotel and townhouses, a plan much opposed by its neighbors.


In Depth

'Smart Beta' Funds In Regulators' Sights, Hedgies May Be Next

Mar 26 2015 | 11:11am ET

Funds that mimic strategies used by active managers for a fraction of the cost could...

Lifestyle

Study: Both Marriage and Divorce Lead to Negative Hedge Fund Performance

Mar 25 2015 | 6:51pm ET

Trouble at home leads to trouble in the market for fund managers, according to researchers...

Guest Contributor

Concerned About Your HFT Exposure? Hedge It!

Mar 26 2015 | 1:06pm ET

High-frequency trading has been a persistent storyline for several years. The trading...

 

Sponsored Content

    Mar 9 2015 | 6:35am ET

    Kelly RodriquesKelly RodriquesAs more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…

Editor's Note