The Real Deal New York

Steve Cohen razes Hamptons manse he bought for $63M

Hedge funder acquired the 10K sf house on seven acres in 2013
June 06, 2016 08:12AM

Hedge fund billionaire Steve Cohen’s 10,000-square-foot East Hampton mansion apparently just wasn’t to his taste.

The financier, whose SAC Capital Advisors was busted for insider trading in 2013, recently tore down the house, at 52 Further Lane, which he bought for $62.5 million that same year, the New York Post reported.

The new home will have a 9,700-square-foot first floor, with a basement around the same size. It’ll have just over half that space, 4,620 square feet, on the second floor, according to new building plans seen by the Post.

Cohen, as it happens, also owns another beachfront mansion on Further Lane, that he bought for $18 million.

The billionaire is also still attempting to sell his 9,000-square-foot penthouse at One Beacon Court in Midtown. He’s now asking $72 million, down from an initial $115 million ask. [NYP]Ariel Stulberg