March 27 Steven A. Cohen, the hedge find titan
who runs SAC Capital Advisors, agreed last week to buy an
oceanfront home in East Hampton, New York for $60 million, the
New York Times said, citing a person with direct knowledge of
At the same time, Cohen put his duplex apartment in a
midtown Manhattan tower on the market for $115 million, the
newspaper said, citing the person.
News of the real estate activity surfaced one day after
reports that Cohen bought Pablo Picasso's "Le Reve" from casino
owner Stephen Wynn for $155 million.
The spending comes as regulators scrutinize Cohen's
On March 15, the U.S. Securities and Exchange Commission
said Cohen's firm had agreed to pay $615.7 million in the
largest-ever insider trading settlement.
U.S. District Judge Victor Marrero is expected on Thursday
morning to hold a hearing to consider the settlement, which
requires his approval.
East Hampton is located on the eastern end of Long Island,
which has in the last couple of decades gained considerable
cachet on Wall Street as a popular - and often costly - place to
get away from the office, especially in the summer.
A spokesman for Cohen declined to comment.