12. Steve Cohen’s Penthouse – New York City, New York

On the Market Since: 2013 
Total Area: 9,000 square feet 
Initial Value: $115 million*

Steve Cohen, a hedge funder worth $14.1 billion as of 2020, is usually a business genius. However, he doesn’t seem to have the golden touch when it comes to selling a Manhattan duplex penthouse. He originally put the 9,000-square-foot penthouse on the market for $115 million in 2013.

As time has gone on, the price has dropped, first to $98 million and now to $57.5 million, a 50% cut. The penthouse has an art gallery, as Cohen is a serious art collector (though only some of his collection is housed in the Manhattan penthouse). His collection, for which he is notorious for overpaying, is worth $1 billion. The penthouse also has five bedrooms and six bathrooms.  

The duplex, which is industrial strength, just simply won’t sell. Steve Cohen, who invests in stocks like Immunomedics and BGC Partners, is likely very displeased by the precipitous drop in his penthouse. The reason the penthouse won’t sell is likely due to property tax reasons or the high cost-of-living in the city.