The Real Deal New York

Hedge fund magnate lists Midtown East home for record $115M, pays $60M for East Hampton mansion

March 28, 2013 08:30AM

From left: The exterior of One Beacon Court, Steven Cohen and East Hampton

Hedge fund bigwig Steven Cohen has listed his duplex apartment in Midtown East’s One Beacon Court for $115 million and is buying an East Hampton oceanfront mansion for $60 million, the New York Times reported. Cohen, who owns SAC Capital Advisors and is said to be worth almost $10 billion, wants more than four times the amount than he paid for his 10,000-square-foot condominium at Bloomberg Tower – also known as One Beacon Court.  He bought the pad, on the 51st and 52nd floors, for $24 million in 2005. 

A deal at that price would shatter records for the most expensive Manhattan apartment sale, eclipsing even the $88 million that Russian billionaire Dmitry Rybolovlev paid for a penthouse at 15 Central Park West and in-contract $90 million deals for two duplexes at One57, as The Real Deal previously reported.

Cohen closed on the property on the uber-tony Further Lane in East Hampton last week, sources told the Times. The 10,000-square-foot, seven-bedroom home sits on seven acres, boasts antique oak and limestone floors, and has a tennis court and pool, according to the listing. The property was previously owned by the late Robert McKeon, an investment banker who committed suicide in September.

The deal is among the biggest ever on Long Island’s South Fork, and was brokered by Sotheby’s International Realty’s Ed Petrie. Petrie declined to comment to the Times, as did an SAC spokesman. This will be Cohen’s second home in the neighborhood; he purchased another home on Further Lane in 2007. [NYT]Hiten Samtani

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