Steve Cohen hasn’t even had the house for a full year, but he’s already selling the East Hampton mansion he bought in March for $US62.5 million, says the New York Observer.
However a spokesperson for Cohen has said, “As we made clear to the Observer, neither property is for sale.”
A few things about the house: It’s on 52 Further Lane, has a pool, tennis court, media room etc. but the most important thing about it is that it has an ocean view.
Cohen bought the house at 52 after selling his home on 96 Further Lane. The 96 house just had to go because the ocean was blocked by fellow hedge fund manager Jim Chanos’ house. And who wants that?!
Now that’s all in the past. Apparently Cohen is done with Further Lane. It’s over. Goodbye.
That said — now is definitely a good time for him to raise some cash. Cohen’s firm, SAC Capital, plead guilty to insider trading charges last year and must pay $US1.8 billion in fines to the Feds. It also returned all outside investor capital and turned into a family office.
The Justice Department has said that an investigation into Cohen himself, not just the firm, is ongoing.
Cohen is also selling his NYC penthouse, which was just price chopped from $US115 million to $US98 million.
Times are tough.