Thursday, March 28, 2013

Hedge Fund Titan Buys Hamptons Property for $60 Million

Steven A. Cohen is known for his rapid-fire trading style, moving in and out of stocks with dizzying speed at his hedge fund SAC Capital Advisors.  He seems to be taking a similar approach to his real estate, Dealbook reports.

Mr. Cohen reached a deal last week to pay $60 million for an oceanfront property on Further Lane in East Hampton, on Long Island, according to a person with direct knowledge of the sale. The home, which was listed for sale late last week, is down the road from one he already owns. At the same time, he has put on the market his duplex apartment in the Bloomberg Tower on the East Side of Manhattan, this person said. His asking price: $115 million.

News of Mr. Cohen’s real estate activity surfaced a day after reports that he purchased Picasso’s “Le RĂªve” for $155 million from the casino owner Stephen A. Wynn…..

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