Wednesday, 30 July 2014
Last updated 7 hours ago
Jan 2 2014 | 10:13am ET
After almost a year on the market without a taker, Steven Cohen’s Manhattan apartment is getting slightly cheaper.
The SAC Capital Advisors founder listed the 10,000-square-foot duplex in New York’s Bloomberg Tower last year, seeking $115 million. Now, he’ll take just $98 million—which would still be a record for a New York City apartment, the New York Daily News reports.
The current record is $90 million, set in May by a group of investors led by Pershing Square Capital Management’s William Ackman.
Cohen’s Manhattan home was designed by famed architect Charles Gwathmey and features Venetian plaster walls and stainless steel surfaces. It has four bedrooms and five-and-a-half bathrooms.
Cohen paid $24 million for the apartment in 2005.
The price cut follows SAC’s guilty plea to insider-trading charges—part of a deal with prosecutors that will see the firm return all outside capital and become a family office. Cohen also recently sold about $88 million worth of his famed art collection.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…