Steve Cohen appears to be able to add a $21.6 million ultra-luxury Florida estate to his growing portfolio.
As winter approaches up north in the coming months, the New York Mets owner now has a warm place to retreat to. On Aug. 9, the hedge funder and 97.2 percent team owner closed on the sale of a 31,000-square-foot mansion near Boca Raton and west of Delray Beach in unincorporated Palm Beach County.
According to property records, he sold his last Florida home in 2017 for $6.4 million, which was a relatively modest home compared to his newly purchased Palm Beach home.
With an initial stake of 8% in the Mets in 2012, Cohen was a minor owner. Last year, however, Cohen won majority control of the team after a deal with fellow MLB owners and several negotiations, beating out bids from the likes of Alex Rodriguez, who was reportedly enraged at missing out on the deal.
J.P. Morgan was blamed by the former Yankee, who complained loudly that the process had been rigged.
“I don’t think it ended well with JPM,” a source previously told The New York Post, noting that J.P. Morgan “did everything for A-Rod in the Mets deal,” and that the bank didn’t like being blamed for the MLB team being sold to Cohen.
Cohen became embroiled in the infamous GameStop controversy in January.
Due to its investment in Melvin Capital, Point72, his $22 billion hedge fund, suffered significant losses. Melvin was nearly wiped out when it placed a large bet against the video game retailer after amateur traders on the WallStreetBets subreddit realized that hedge funds like Melvin were vulnerable to any kind of stock run because they had heavily “shorted” GameStop and other stocks.
Cohen temporarily deactivated his social media accounts after receiving backlash on social media as a result of the fallout — but it appears that the GameStop frenzy was short-lived, and Cohen quickly recovered.
What better way to get back on your feet than with a mega-mansion in Florida?
The seller was represented by Senada Adzem of Douglas Elliman, and Cohen was represented by Gerard Liguori of Premier Estate Properties. Both agents could not be reached for comment.
According to the listing, the gated mansion is described as having a “world-class design and lifestyle of unrivaled amenities, privacy, and security.”
The architectural marvel is an ode to both modern classicism and throwback glamour, with seven bedrooms and 11 full baths. The property has a lot of family-friendly features that also serve as entertainment areas.
A club room with a bar, card table, and billiards table, a cigar room, a cinema-style theater room, and even a two-lane bowling alley in a massive children’s lounge are among the unique amenities.
Rockybrook also has a spa treatment room, salon, gym, and sauna, as well as a championship tennis court and a meditation space with views of the tropical garden.
A grand foyer greets visitors, complete with a custom-designed open-arms staircase. A long corridor leading from the foyer leads to a gourmet Downsview kitchen with top-of-the-line appliances, a striking double-column stainless-steel range hood, and a separate island counter with seating for six and oversized lighting.
A separate commercial catering kitchen is also available at Rockybrook.
The primary en-suite bedroom has its own wing upstairs, complete with a study lounge and kitchenette. The suite’s main balcony has a fireplace, whirlpool bath, and deck, all with views of the property’s lush 2.5 acres and outdoor areas.
The 250,000-gallon heated pool with black mosaic glass tile and a black Pebble Tec finish is one of the more eye-catching features. Waterfalls, fire pits, a covered pavilion and dining area, a grotto with a rain feature, and a fully equipped summer kitchen are all part of the landscaped pool area.
Hurricane-resistant windows, doors, and exterior construction are also included in the residence’s design. It also includes a Crestron smart home system as well as security cameras.
The transaction was first reported by The Real Deal.
Cohen sold his East 58th Street penthouse in New York City in April after eight years on the market and a 74 percent price drop.
After only a month on the market, he sold his West 12th Street triplex for $30 million in 2019.
However, he still owns two summer Hamptons homes worth a combined $80.5 million, as well as a $38.8 million West Village residence.
His main residence in Greenwich, Connecticut, is estimated to be worth $23 million and spans 35,000 square feet with 18-plus acres.
