Billionaire hedge-fund manager Steve Cohen just sold his New York City penthouse after 8 years and a 74% discount

  • Billionaire Steve Cohen’s Manhattan penthouse is in contract after 8 years on the market and multiple price cuts, per Bloomberg.
  • The sale price is not yet known, but the condo was last asking $29.5 million — 74% off its $115 million price tag in 2013.
  • Cohen, who runs the Point72 Asset Management hedge fund, is worth $16 billion.
  • See more stories on Insider’s business page.

After eight years and a 74% price chop, billionaire hedge funder Steve Cohen has finally sold his sprawling Manhattan penthouse.

As Oshrat Carmiel first reported for Bloomberg, Cohen’s 9,000-square-foot duplex at 151 East 58th Street went into contract last week, according to an Olshan Realty market report. The sale price was not disclosed, but the penthouse was most recently listed for $29.5 million. Olshan Realty did not immediately respond to a request from Insider for more details on the sale.

Cohen, who runs Point72 Asset Management and has a net worth of $16 billion, first listed the penthouse for $115 million in 2013. Since then, the listing has gone through four brokerages and multiple price chops, per the brokerage report.

Steve Cohen is chairman and CEO of the Point72 hedge fund, which oversees more than $20 billion in assets.Steve Marcus/Reuters

The penthouse sits on the 51st and 52nd floors of One Beacon Court, a 54-story luxury condominium tower that’s part of the Bloomberg Tower complex, according to StreetEasy. The five-bedroom, 6.5-bathroom condo has a 2,000-square-foot master suite and 24-foot ceilings in the living room, according to the listing. At 700 feet above the city, the duplex offers views of Central Park and both the East and Hudson rivers. Cohen bought the penthouse in 2005 for $24 million, per Bloomberg.

Cohen, who owns the New York Mets baseball team, has also owned real-estate in Greenwich Village and the Hamptons. In 2016, he tore down his 10,000-square-foot East Hampton mansion to build a new one in its place after paying $62.5 million for the house three years prior.

In 2019, he sold his triplex condo in the West Village’s Abingdon building for $30 million. According to Olshan Realty’s report, Cohen is in the process of building another home in Greenwich Village. A spokesperson for the hedge-fund CEO did not immediately respond to Insider’s request for comment for this story.

Cohen has long been a fixture in the New York finance world. He founded the SAC Capital hedge fund in 1992 and ran it for years until the firm was busted for insider trading in 2013. As chairman and CEO of Point72 Asset Management, he oversees more than $20 billion in assets.

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