Over the past year, hedge fund honcho Steve Cohen has shelled out $150 million for a Picasso, $60 million for an East Hampton estate and $616 million to get the Securities and Exchange Commission off his back. Now, it looks like he wants to get a little bit back—$115 million, to be exact.
Via our friends at Real Estalker comes word that Mr. Cohen’s 9,000-square foot spread at One Beacon Court, the residential portion of the Bloomberg Tower at 151 East 58th Street, has officially hit the market. Mr. Cohen and his brokers—Deborah Grubman and David Dubin at Corcoran—are hoping to knock reigning real champion 15 Central Park West out of the park and set a New York City record.
But 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.)
The West Village, 1999. The meatpackers have all but left the nearby cobblestones, but a savvy buyer can still pick up a sprawling, newly-converted industrial loft for a little over a million bucks.
Enter Steve Roth, chairman of megadeveloper Vornado, who knows a real estate deal when he sees one and is renowned for waiting out the market until the time is right to sell.
Who knew that locating a buyer for a $16 million loft conversion in Chelsea would be as hard as finding the Ark of the Covenant? Indiana Jones, a.k.a. Harrison Ford, has certainly had a lot of trouble pinning down buyers for his four-bedroom, 4.5-bath spread at 206 West 17th Street.
The actor first listed his 5,664-square-foot condo for $16 million back in December 2010. Now, some two years later, Mr. Ford is finally in contract, according to the Olshan Luxury Market report. Certainly, it’s not the longest time a property has lingered on the market. But let’s face it, this place was not moving at the speed of light, or even the speed of a competently-wielded light saber.
Amassing and connecting a melange of co-op apartments scattered about a coal baron’s Fifth Avenue mansion was an outlandish dream, even for Howard Ronson, the commercial real estate developer who kicked off the buying spree at 828 Fifth Avenue, also known as the Berwind mansion, before his death in 2007.
His heirs tried to carry on, but they could never quite replicate their patriarch’s acquisitive charms. With four of the nine apartments in hand, they stopped far short of Ronson’s goal of total building domination. Nor could they (or would they) sell the spread, at least not for $72 million. After putting the apartment on the market in May, in a bid to catch one of the many over-eager trophy hunters said to be sniffing around New York, the family pulled the property just a few months later.
Legendary moneyman Glenn Dubin is known for spinning gold even when others are becoming spinsters—among his many achievements is turning a 65 percent return the year of the 1987 market crash. Yet it appears even a lion like Mr. Dubin is not immune to the vagaries of a real estate bubble. Having purchased Jackie O.’s Read More
Media scion Lachlan Murdoch has now found a buyer for his (unfinished) $14.75 residence in Nolita, according to the Corcoran Group website. Corcoran broker Brooks Nicholson confirmed that a contract was signed on June 29th for the five-story, brick building at 11 Spring Street, but could not discuss the sale price.
Back Read More
Is this a rendering?
William Neuman may have skipped out on the Big Deal this past weekend, but he has now uncovered the listing for one of downtown’s most talked about buildings.
Lachlan Murdoch’s epic project to transform a five-story, former stable building into his palatial residence is not happening. Mr. Murdoch Read More
The estate of banking tycoon Arthur Altschul is pulling no punches in its efforts to sell the family home at 993 Fifth Avenue, after the co-op board scotched an earlier multimillion-dollar deal to sell the apartment in October.
According to sources, Melinda Nix of Sotheby’s International Realty had the original listing on the four-bedroom spread, Read More
AT 30, SHE SELLS HONEYMOON SUITE, GRABS $2.1 MILLION DUPLEX
Who knew Lizzie Grubman was a divorcée?
Before launching into an extensive celebration of her 30th birthday–starting with a party at Moomba on Jan 29, where she hung out with Mick Jagger, and hopefully ending with a joint party with publisher Jason Binn Read More