Silver as an investment

A Look Inside Stevie Cohen’s New York Duplex: The Most “Expensive” Apartment In Manhattan

Be prepared for the next great transfer of wealth. Buy physical silver and storable food. / By Tyler Durden /07/08/2013 10:37

Think the $90 million sale of the penthouse duplex at the still unfinished One57 to an undisclosed buyer is a milestone for New York real estate? Then you haven’t looked at the asking price for Steve Cohen’s duplex on the 51st story of the Bloomberg building aka One Beacon Court. At $115 million, if sold, this will represent the most expensive New york real estate transaction in history.

Naturally, nobody can blame Stevie for taking some cash out: after paying $150 million for a Picasso, $60 million for an East Hampton estate and $616 million to settle a SEC civil suit, the hedge funder who redefined the term “information arbitrage” and whose SAC Capital is converting to a “friend and family” run office may suddenly be facing a liquidity crunch.

Alas, Stevie may have a problem getting top dollar for his midtown real estate.  As Observer reported some time ago,

With no outdoor space, three blocks between the building and the park and nowhere near the name recognition of 15 Central Park West, can Mr. Cohen’s 51st-story duplex do it? (Even if it can’t, he only paid $24 million for the apartment back in 2005, so he’ll come out ahead either way.)

Then again, “there are exceptionally good views” from One Beacon Court, said Ms. Del Nunzio, “and the finishes”—interiors by Charles Gwathmey, natch—”are very good” (which we’re sure the contractors will appreciate as they rip them out and leave them for dead at the curb).


Thanks to BrotherJohnF