Price on Steven Cohen’s One Beacon Court PH chopped to $72M

The 9,000-square-foot duplex first listed for $115M in 2013

TRD New York /
Apr.April 20, 2016 11:05 AM

They say the fourth time’s the charm. Or, rather, that’s what hedge fund billionaire Steven Cohen is hoping for his One Beacon Court duplex, which he is again listing for the fourth time since 2013. This time, the price is $72 million.

The four-bedroom, 9,000-square-foot penthouse at 151 East 58th Street first hit the market for $115 million in April 2013. It has been on and off the market several times, often listed with different brokers and a series of slashed prices.

The pad, part of the residential component of the Bloomberg Tower, was last on the market in June, asking $79 million. Douglas Elliman has the listing, Curbed reported.

Cohen, who founded SAC Capital Advisors, which paid a record $1.8 billion fine to the U.S. government for insider trading in 2013, bought the penthouse for $24 million in 2005.

Out of the 261 penthouse units for sale in Manhattan as of April 1, more than 35 percent of them had price chops since being listed, according to data compiled by listings portal StreetEasy at The Real Deal’s request. [Curbed]Dusica Sue Malesevic

Correction: A previous version of the story incorrectly identified the full scope of the building. One Beacon Court is part of the 1.4 million-square-foot Bloomberg Tower.

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