Published On: Sun, Dec 14th, 2014

Steve Cohen Drops Penthouse Ask from $110 to $82 Million

731 Lexington Avenue

Disgraced billionaire hedge fund manager Steve Cohen has been forced to cut the price on his Manhattan penthouse yet again. The new price is a mere $82 million, down from $110 million.

The penthouse is located at 731 Lexington Avenue, otherwise known as One Beacon Court. The building has 105 apartments over 54 stories and was opened in 2001. Located on 58th Street, between Lexington Avenue and Third Avenue, the building is part of the Bloomberg Tower complex. It neighbors Bloomberg L.P. as well as the upscale Le Cirque restaurant.

Cohen might be in need of some quick cash to cover all of the legal fees that he has incurred defending himself against insider trading allegations by the SEC. He may also need it to pay any fines that might be imposed. Oh and his ex-wife is suing him too.

The duplex penthouse has more than 9, 000 square feet and features phenomenal views and abundant sunlight from every room. It boasts coveted western outlooks towards Central Park and a spectacular Gwathmey Siegel designed interior.

It was designed as a four bedroom apartment with massive entertaining rooms and tremendous back of house space. A corner Living Room has 24 foot ceilings, and a Dining Room, a Library and a Study, have panoramic views. There are also two oversized Staff Rooms, masses of storage space and a south-facing Media Room and Breakfast Room.

The 52nd Floor includes a private and massive master bedroom suite with two marble clad baths, Dressing Rooms and an Office. Additionally there are three further bedrooms, all very large and with ensuite white marble baths. There is a centrally located Den as well as Laundry.

From the listing: “This extraordinary apartment is a testament to both great and classic design and a premier example of top quality workmanship. Beyond these significant attributes, the duplex is also an ideal residence for grand entertaining and glamorous living. This contemporary high style abode offers the ultimate NYC living experience with the conveniences of a premier full service condominium building.”

Residents enjoy amenities located on the 29th Floor that include a fitness center complete with cardio equipment, barre exercise room, and massage room. A Resident Lounge/Business Center has east and south views and includes several sitting areas and a big screen television. A Children’s playroom with kitchen space is also included on this floor.

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