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

Q&A: Filippo Pignatti Morano On The Ultimate Alternative Investment...Classic Cars

Jan 29 2015 | 12:37pm ET

In 2011, Filippo Pignatti Morano launched a fund to invest in classic cars. FINalternatives...

Lifestyle

Looking For A Hedge Fund Manager? Try Davos

Jan 28 2015 | 8:48am ET

Davos, Switzerland seems to have become the hedge fund capital of the world—at...

Guest Contributor

Five Tips For Successfully Marketing Your Hedge Fund

Jan 30 2015 | 9:14am ET

When it comes to the hedge fund industry, the notion of “build it and it will...

 

Editor's Note