Steve Cohen's not going to let a little heat from the Feds ruin his lifestyle.
The billionaire founder of hedge fund SAC Capital bought a $155 million Picasso from Steve Wynn earlier this week. Now Peter Lattman over at Dealbook says that he's also bought an oceanfront Hamptons house for $60 million.
This is all on top of a $616 fine SAC Capital was just ordered to pay the SEC to settle insider trading charges, according to Reuters.
A few things about the house: It has a pool, tennis court, media room etc. but the most important thing about it is that it has an ocean view.
See, Cohen already has a house in the same area, the super elite Further Lane. He bought his old house in 2007, but tragically, its ocean view is obscured by fellow hedge fund manager Jim Chanos' house.
So obviously Cohen had to do something.
Lattman also reports that Cohen may sell his Midtown Manhattan apartment in Bloomberg Tower (he also has one in the West Village) for $115 million. If he does, it will be the most expensive property ever sold in NYC, beating the current record held by Russian oligarch Dmitry Rybolovlev, who bought former Citi head Sandy Weill's $88 million apartment for his daughter last year.
