Billionaire Steven Cohen builds a large fence in East Hampton, angers his neighbors

Steven Cohen and Montauk Point Lighthouse

The pope’s not the only one who doesn’t like walls!

Steven Cohen, the billionaire hedge fund manager and art collector, has angered in his neighbors in East Hampton after erecting a gated fence in front of his new branch office 203 Pantigo Road.

“The town has always avoided having gated communities. Generally speaking, we like to keep things open,” the East Hampton Star reported a board member Job Potter saying, “I think it is pretty unusual to have a commercial site with a gated parking lot. The question is why?”

Cohen has faced a lot of legal trouble in the past, and the SEC continues to investigate him and his firm, Point72 Asset Management. He paid a record $1.2 billion fine for insider trading to the US government in 2013.

Cohen owns two homes in East Hampton, including a $62 million spread he bought in 2013 (and is supposedly looking to sell). He also failed to offload his apartment at One Beacon Court, which he had listed for $79 million, before taking it off the market in December.