Talk about taking a haircut.
The Manhattan penthouse belonging to billionaire hedge fund manager Steven Cohen is now listed for sale at $45 million, $70 million less than its original listing price.
The eye-popping reduction represents more than just the softening Manhattan housing market in the last year. The 9,000-square-foot duplex at One Beacon Court has languished on the market for almost six years, despite seven price cuts and being marketed by three brokerage firms, according to data from StreetEasy.
Here’s its pricing history:
· April 2013: Corcoran first lists at $115 million.
· Dec. 2013: Corcoran cuts price to $98 million.
· Dec. 2014: Sotheby’s lists at $82 million.
· June 2015: Corcoran gets the listing again and lists at $79 million.
· April 2016: Douglas Elliman takes a swing and lists at $72 million.
· Sept 2016: Douglas Elliman cuts the price to $67.5 million.
· September 2018: Douglas Elliman cuts the price to $57.5 million.
· January 2019: Douglas Elliman lists again for $45 million.
One Beacon Court was built in 2005. That same year, Cohen bought two penthouses, 51W and 52W for $12.9 million and $13 million, respectively, according to StreetEasy data. He then combined the pair to create the duplex, which was designed by famed architect Charles Gwathmey.
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It oozes luxury.
On the first level, there’s a reception room, office, pantry, and two staff rooms with full bathrooms. The living room has 24-foot ceilings and two walls of glass looking north and west. Upstairs, there’s the master suite featuring an office, sitting room, two full bathrooms and dressing rooms.
There’s a chef’s kitchen with “honed black absolute granite” countertops. There’s a media room next to the kitchen. The building has a fitness center and massage room. There’s also a resident lounge, business center and children’s playroom with a kitchen.
And now at $45 million, perhaps it’s a bargain.
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