New York Penthouse belonging to SAC Capital CEO Steve Cohen Now $98m from $115m

We reported back in May that SAC Capital Honcho Steve Cohen has put his massive 9,000 Square Feet 4br, 4.5ba + 2 staff bedroom duplex New York Penthouse the Upper East Side between Sutton Place and Lenox Hill a block from Park Ave at 58th and Lex (151 East 58th st) for sale for $115m. The price has now been dropped to $98m.

Let’s look at some comps. 9,600 square feet for $98m is just over $10,000 a square feet…the price on prime but not premiere NYC penthouses tends to be in the $3,000 – $6,000 a square foot range.

At $6,000 a square foot, we get $57.6m. Premiere addresses command higher prices. The ONE 57 Penthouse sold for just less than $100m  to hedge fund manager Bill Ackman and fellow investors as an investment. At  $8,000 a square foot. At $8,000 per square feet, we get $76.8m.

In 2011 the Penthouse at 15 Central Park West sold for $13,000 a square foot to a Russian Oligarch. At $13,000 a square foot, we get $124.8m.

So the range based on comps? $57.6m to $124.8m..a wide range indeed and the asking price of $98m is right in between.

 

 

Corcoran still has the listing

SAC Capital Chief Steve Cohen's Upper East Side New York Penthouse

SAC Capital Chief Steve Cohen’s Upper East Side New York Penthouse

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