Famous hedge fund manager and founder of SAC Capital Advisers, Steven A Cohen, has purchased a water-front property in east Hampton on Long Island for a solid $60 million. The purchase comes just after he listed his apartment in the Bloomberg Tower in Manhattan for a whopping asking price of $115 million.
The water-front Hampton's property was owned by founding partner of Wasserstein Perella Investment bank, Robert B. McKeon, who committed suicide in September 2012 at the age of 58. The purchase is one of the most expensive transactions of Long Island's South Fork, reports CNBC.
According to the NYTimes, the home is spread across an area of 10,000 square feet on a seven acre lot. Interiors of the home feature high ceilings, limestone and oak wood flooring. A family room, media room, a master suite and six additional bedrooms complete the interiors. Outside, the home has a tennis court and a pool.
The $60 million residence is not Cohen's first purchase in the region. In 2007, he had bought a residence on Further Lane, one of the most desirable neighborhoods of the Hamptons, for around $18 million. However, the new purchase is Cohen's first water-front residence splurge, reports Zillow.
Cohen's primary residence is in Greenwich, Connecticut, which has a two-hole golf course and a large basketball court as well.
Not only has Cohen purchased a luxurious home, but rumors have it that he has dropped $155 million on a coveted painting by Picasso, titled "Le Rêve". If the rumors are proved true, the sale would be one of the most expensive art piece purchases in the history of the United States, reports LA Times.
These exclusive purchases come amid news of a $616 million fine levied by the Securities Exchange Commission on SAC Capital for insider trading.
