Stephen Cohen's $115 Million Penthouse Hits the Market (House of the Day)
By Catherine Sherman
When hedge fund manager Steven Cohen recently splurged on a $60 million Hamptons estate, reports surfaced that he was planning to list his Bloomberg Tower duplex for a whopping $115 million. Now it's official: Steven Cohen's apartment just hit the MLS. If the four-bedroom sells before Martin Zweig's $125 million listing, it will reportedly be the most expensive sale ever on a Manhattan apartment.
According to the listing description, architect Charles Gwathmey wanted it to be "the most sophisticated, stunning and elegant apartment in New York City." While a prospective buyer will be the ultimate judge, the duplex has a sleek, modern design and, along with its four bedrooms, the 9,000-square-foot layout includes 5.5 baths. The apartment's location in the heart of the Big Apple is also an attractive selling point. Two 24-foot-high walls of windows offer exceptional views of downtown.
Whether it's worth $115 million, however, is another story. The asking price is nearly 12,000 percent more expensive than the median Sutton Place home value, according to Zillow's Home Value Index. This means you could buy an average Manhattan home plus a private jet for the same price.
If Cohen gets his asking price, he'll be reimbursed for his $60 million Hamptons splurge, and part of his pricey Picasso purchase (he bought Picasso's La Reve for $155 million). Meanwhile, Bloomberg reports that the U.S. Securities and Exchange Commission let Cohen off easy over insider-trading allegations. A federal judge approved a $14 million settlement between the SEC and a unit of Cohen's hedge fund last week.
While the billionaire seems to be in the clear for now, he hasn't found a buyer for his pricey penthouse yet. The Corcoran Group's Deborah Grubman is the listing agent for the apartment.
Find more homes for sale in New York City, or search listings in your area.
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