It’s been about six years since billionaire hedge funder Steven Cohen listed his famed penthouse at One Beacon Court. The Charles Gwathmey-designed complex went on sale for an incredible $115 million in 2013. Years later, no one is interested, and the property was forced to take a significant price cut.
Want to Buy a Billionaire’s Home? One Beacon Court Discount
Are you interested in buying Steven Cohen’s property at One Beacon Court? Fortunately for you, there is a huge sale going on right now. After entering the market at $115 million back in 2013, the property recently took yet another price cut. Today, you can pick up this penthouse for just $45 million ($70 million discount). It is not because Cohen is feeling generous. There could be a reason that no one wants to touch this property.
Why Hasn’t Anyone Bought the Property?
We can’t blame timing. Cohen first listed the property in 2013, right before the high-end real estate boom began. However, the place kept looking for a buyer, and every year, the price dropped a little bit more. Hopefully, this new low price will finally attract a buyer. However, perhaps there is a different theory to consider. As beautiful as the Gwathmey-designed apartment is, it’s incredibly unique. In fact, it is so unique that it would be difficult for another billionaire to purchase and turn into his or her own. Therefore, the unit is stuck in an ultra-specific niche category within another extreme niche category that we call “billionaires who can afford the property.”
Manhattan Luxury Property for Sale Now
Residences at One Beacon Court begin on the 32nd floor. Units in the building have clear, unobstructed views of Manhattan. Apartments feature terrace space, floor-to-ceiling windows, high ceilings, and free space. On a day-to-day basis, you’ll run into some of the world’s most successful celebrities, businesspeople, and notable figures who call One Beacon Court home. If you have $45 million to spare, it is a great time to jump on the opportunity.