When hedge funder Steven Cohen dropped the price of his One Beacon Court duplex yet again in 2016 down to $67.5 million— a far cry from its original ask of $115 million— we knew it would only be a matter of time before we saw yet another price chop. Lo and behold, the tough-to-sell home has shaved another $10 million off its price tag and now is looking to sell for $57.5 million, reports The Real Deal.
It’s been four years since the 9,000-square-foot home first hit the market and after four price chops, it still hasn’t managed to attract a buyer. Cohen purchased the pad for a mere $24 million back in 2005 and after giving it a renovation helmed by the late Charles Gwathmey, he sought to flip the space for big bucks. Over the years, the asking price for the five-bedroom, six-bedroom abode has been on a steady decline and now stands at half of its original asking price, potentially with room for more chopping, if you ask us.
Only time will tell if this latest price chop will be the one that will actually help get this place sold. In the meantime, Cohen isn’t pressed for a new place to live— he’s already in the process of building himself a megamansion at 145 Perry Street in the West Village and the Landmarks Preservation Commission has granted approval for him to transform the property into a four-story megamansion and a six-story apartment building next door.