Less than a year after the purchase of a Further Lane property in March for a staggering $62.5 million by Steven A. Cohen, a hedge fund billionaire, The New York Observer reported last week that the embattled billionaire is trying to “dump” the 6.5-acre property.
Mr. Cohen's company, SAC Capital Advisors, has been the subject of a government investigation into insider trading. SAC was charged by the Justice Department with four counts of securities fraud and one count of wire fraud, and pleaded guilty on all counts. Mr. Cohen, who is also defending a civil suit aimed at him, will be paying $1.8 billion in fines out of his own pocket, the Observer said.
The Observer was told that there is already a buyer poised to make an offer. It also reported that his penthouse at 1 Beacon Court in Manhattan is on the market for $98 million, down from a previous $115 million.