Cohen Cuts Price Of New York Apt.

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.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Versum Materials (VSM), with a market capitalization of $2.7 billion, enables chipmakers to achieve higher performance at lower cost with enhanced reliability. Versum is a leading global provider of electronic materials for the integrated circuit and flat-panel display markets.