Most people are getting poorer, but Steve can afford it.
And, his timing might be good. The people of Greenwich have other stuff to be concerned about—such as their diminishing wealth—than fighting with Stevie Cohen.
NY Times: Steven A. Cohen’s 35,000-square-foot home in Greenwich, Conn., is already big enough to cause a billionaire to do a double-take. But now, it appears that Mr. Cohen, who runs the giant and secretive hedge-fund firm SAC Capital, wants to make it even more enormous.
The final agenda for Thursday night’s meeting of the Greenwich Planning and Zoning Commission, available on the commission’s Web site, states that Mr. Cohen…and his wife, Alexandra, are applying for a special permit to add another 1,145 square feet, give or take a few square inches, to their house on Crown Lane.
Here’s the agenda item in full:
Stephen A. and Alexandra M. Cohen; application PSP #3722 and SP #3723 for a preliminary site plan and special permit to add 1,144.89 sq. ft. to an existing 35,084.89 sq. ft. residence on site, in excess of 150,000 cubic feet in volume on a 13.911 acre property located at 30 Crown Lane in the RA-4 zone.
The meeting was scheduled for 7 p.m. Thursday; it was not clear on Friday how the presentation went or when the planning board might make a decision. The planning board told DealBook that no one was immediately available to answer questions.
A spokesman for Mr. Cohen declined to comment.
As you might remember Old Money Greenwich isn’t thrilled with all the new building.
Two years ago, another hedge fund manager’s plan to build a nearly 39,000-square-foot house caused a big controversy in Greenwich. More recently, the town rejected a Russian millionaire’s proposal to build a 27,000-square-foot house with 26 toilets and room to park 12 cars.
The Cohens paid more than $14 million for the house on 14 acres in 1998 and soon started major renovations and expansions, The New York Times reported in 1999. “There’s no question,” The Times’ Matthew Purdy wrote, “that the Cohens are planning a Xanadu on Crown Lane.”
Especially Stevie Cohen’s.
The Cohens’ abundant approach to architecture hasn’t always pleased the rest of the town. In 1999, one resident, Susan Hut, had this to say to the town’s planning board about the house they proposed to build: “I feel that it’s not a home. It’s a showplace. It could be in the Bronx Botanical Garden.”
Describing Mr. Cohen’s estate in an article in Vanity Fair in July 2006, Nina Munk said it “resembles Buckingham Palace, or Windsor Castle. Even people unfazed by luxury are startled by the excess. One billionaire, whose name I’ve promised not to reveal here, said his jaw dropped the first time he visited.” Its amenities include a basketball court, an indoor pool and a Zamboni machine that smooths out a 6,734-square-foot ice rink.
Google Maps has an overhead view of the Cohens’ T-shaped estate, complete with geometric gardens at the bottom end.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.