Nearly six years after billionaire hedge funder Steven Cohen listed his enormous, Charles Gawthmey-designed penthouse at One Beacon Court for a whopping $115 million, the place is still looking for a buyer—and it’s gotten another price cut.
A new listing for the apartment appeared today, with Douglas Elliman’s Richard Steinberg, and it has the lowest asking price yet: Now, the penthouse is going for $45 million. (With a $70 million discount, we’re pretty sure that vaults it to the No. 1 spot in the Pricechopper Hall of Fame.)
The backstory: Cohen first listed the place for $115 million in 2013—right before the nine-digit boom in high-end real estate began in earnest—and has slowly but surely knocked a bit off the price every year or so. It dropped to $98 million at the end of 2013; $82 million one year after that; and so on, and so on. Most recently, in the fall of 2017, it was asking $57.5 million.
Will the new, lower price be the thing that finally lures a buyer? Time will tell, but the Gawthmey-designed apartment itself could be an issue; it’s not exactly an apartment that another billionaire could come in and put their stamp on. As for the particulars, it’s a four-bedroom duplex that measures approximately 9,000 square feet, with double-height ceilings, custom finishes, and other fancy touches.