The story behind the biggest price chop in NYC trophy-property history (TAG: ALSO NOT STEVE COHEN'S SHINING MOMENT)
2019-01-11 — therealdeal.com
After reducing the price a painful eight times, the unit at 151 East 58th Street has now been relisted at $45 million. That's a whopping $70 million discount from its original 2013 listing price of $115 million.
Cohen's troubles started in November 2013, when he pleaded guilty to insider trading and agreed to pay a penalty of $1.2 billion.
It was that April that he first listed the apartment for sale at $115 million, but by the end of 2013 he had dropped the price to $98 million.
In 2014, he went down to $82 million, then $79 million in 2015, and $72 million in 2016. By January 2017, the price was at $67.5 million, according to StreetEasy, and by the fall of that year it was $57.5 million, or $6,389 per square foot.
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