It’s been a long run on the open market for the midtown Manhattan penthouse condo that hedge fund manager and Mets majority stakeholder Steve Cohen is parting with. The property first hit the market under Cohen’s ownership in 2013, at $115 million, and through the years a succession of price cuts were levied upon its ask until the price stood at $29.5 million in February of this year.
The residence is currently listed in pending status. When the deal closes, it will bring to an end a journey which Cohen began in 2005 when he plunked down $24 million for the One Beacon Hill crown jewel unit.
Designed by architect Charles Gwathmey, the 9,000 sq. ft. property contains five bedrooms and eleven baths; specialty rooms include a media room and a reception area. Materials on display include Venetian plaster and raw steel. The soaring two-story glass of the great room is a dazzling display of scale.
Cohen, whose high-profile big-ticket purchases include a Picasso scored from casino heavy Steve Wynn—a fellow collector—and a $62.5 million Hamptons shingle style of enormous character that he razed to build his own custom home—may well be joining the exodus of big Manhattan money migrating to Florida. News stories that circulated in January found him looking for additional office space for his firm, Point72 Asset Management, in Palm Beach County.
Cohen’s net worth is $16 billion, according to Forbes.