The Real Deal New York

Steven Cohen’s $98M One Beacon Court PH off the market

Hedge funder purchased 9,000 square foot pad in 2005 for just under $13M

July 09, 2014 12:00PM
By Julie Strickland

From left: Steven Cohen and 151 East 58th Street

From left: Steven Cohen and 151 East 58th Street

Billionaire hedge fund manager Steven Cohen’s One Beacon Court penthouse, which was most recently on the market for $98 million, is no longer listed.

Cohen’s posh pad, part of his reported $300 million in real estate holdings, first hit the market for $115 million in April last year. He then chopped the penthouse asking price by 15 percent to $98 million in December. The listing disappeared from StreetEasy on Tuesday, and has been removed from the Corcoran Group’s website. It was not immediately clear whether the property has gone into contract or has simply been taken off the market.

The 9,000-square-foot, four-bedroom duplex condominium at 151 East 58th Street in Midtown East, designed by architect Cesar Pellis, boasts a double-height living room with 24 ceiling windows and two full walls of windows, as well as Venetian plaster walls, maple floors and a chef’s kitchen with state-of-the-art stainless steel appliances. The master suite includes an office, sitting room and two baths with white marble walls, while black granite lines the floors.

Cohen purchased the property in 2005 for $12.8 million amid a home buying spree that also included the purchase of a seven-acre property at 52 Further Lane in East Hampton for $60 million — one of the highest home prices ever paid on the East End. That buy in March came at the same time that his embattled firm SAC Capital Advisors agreed to pay a $616 million to settle SEC charges of insider trading. He also laid out $150 million — that same month — for Pablo Picasso’s “La Rêve,” and quietly offered up several pieces for sale form his own collection. The timing of the buys and sales drew speculation about Cohen’s possible attempt to shield his assets from the government as the SEC’s long investigation of allegations of insider trading at SAC drew to a close.

The Corcoran Group’s Deborah Grubman and David Dubin, who had the listing, did not immediately respond to requests for comment. Cohen did not immediately respond to a request for comment made through his assistant at Point72 Asset Management, the Stamford, Conn.-based group of hedge funds that replaced SAC Capital in 1992.

MENU