Celebrity News

A house for Steven Cohen’s Picasso?

Despite buying Picasso’s masterpiece “Le Rêve” from Steve Wynn for a record $155 million, billionaire trader Steven A. Cohen hasn’t stopped spending. Just weeks after his SAC Capital Advisors agreed to pay the government $616 million following accusations of insider trading, Cohen has also splurged on a $60 million Hamptons beachfront mansion. Sources exclusively tell Page Six that Cohen last week bought 52 Further Lane in East Hampton, a day after it was put on the market by Sotheby’s. His neighbors include Jerry Seinfeld and Jim Chanos. A source said, “Perhaps this is Cohen’s way of showing to everybody that the issue with the SEC wasn’t a big deal. He’s still got plenty of money. And he already has a house on the same street.” We exclusively revealed on Tuesday that the hedge-fund manager, worth $9.5 billion, bought the 1932 Picasso oil painting for $155 million, the highest price a US collector has ever paid for an artwork — and six years after Wynn put his elbow through it. Cohen’s rep Jonathan Gasthalter declined to comment.