Hedge honcho scores Hamptons bargain

The head of SAC Capital has gotten a nice price on his new home in the Hamptons, according to published reports. Last month, Mr. Cohen bought a 9,000-square-foot mansion on Further Street in East Hampton Village, N.Y., a favorite summer haven for Wall Streeters. Originally, the home was listed at $19.95 million, according to The New York Observer. but Mr. Cohen bought the place for slightly over $18 million—a 10% discount, according to the East Hampton Star, which regularly records new deeds. The newly built 10-bedroom home, which is near—but not on—the beach, will serve as temporary digs for the hedge fund manager. For a more permanent abode, Mr. Cohen—who owns a Greenwich, Conn. mansion with an ice rink—will be looking for something closer to the ocean, according to The New York Times. Recently, two of Mr. Cohen’s neighbors-to-be have been in the news. James Chanos, chief of hedge fund Kynikos Associates, has been at odds with Goldman Sachs managing director Marc Spilker after Mr. Spilker hired a crew to tear down Mr. Chanos’ hedges to widen a pathway to the beach. In response, Mr. Chanos sent an angry e-mail to his neighbor, which was later leaked to Portfolio.com.