Summary: High end real estate could be bargained a lot. Even a 50% discount or more.
Trophy apartments sit empty. Steve Cohen’s 9,000 square-foot duplex on the 51st and 52nd floors of One Beacon Court features a double-height, glass-walled living room and back-up generators to ensure a 24-7 trader is never without computers. Cohen now runs his own family office after his SAC Capital Advisors pleaded guilty in 2013 to securities fraud and paid a $1.8 billion fine. That same year he put the palace in the sky on the market for $115 million. No takers. This year, he dropped the price to $67.5 million.
https://www.bloomberg.com/news/articles/2016-12-29/hedge-fund-agonistes-not-even-donald-trump-can-ease-the-pain
Trophy apartments sit empty. Steve Cohen’s 9,000 square-foot duplex on the 51st and 52nd floors of One Beacon Court features a double-height, glass-walled living room and back-up generators to ensure a 24-7 trader is never without computers. Cohen now runs his own family office after his SAC Capital Advisors pleaded guilty in 2013 to securities fraud and paid a $1.8 billion fine. That same year he put the palace in the sky on the market for $115 million. No takers. This year, he dropped the price to $67.5 million.
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