Cohen to sell $62M East Hampton pad: report

TRD New York /
Jan.January 20, 2014 12:10 PM

Hedge fund mogul Steven Cohen of SAC Capital Advisors is looking to sell the East Hampton estate he acquired for $62.5 million less than a year ago, the New York Observer reported, citing unnamed sources.

A prospective buyer from Australia is interested in the oceanfront home at 52 Further Lane, but might not want to match the price Cohen paid for it, the paper said. 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. The property was previously owned by the late Robert McKeon, an investment banker who committed suicide in 2012.

Cohen owns another home on Further Lane, which he purchased in 2007.

“As we made clear to the [New York] Observer, neither property is for sale,” a spokesperson for Cohen told The Real Deal.

Late last year, Cohen’s firm was hit with a $1.2 billion fine for insider trading. His Manhattan residential assets include a penthouse at One Beacon Court that Cohen put on the market in April for $115 million, and two West Village homes purchased for $23.4 million and $38.8 million, respectively, as The Real Deal has reported. [NYO]Mark Maurer

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