Sick of your multimillion-dollar home? You could tear it down, as billionaire hedge fund manager Steve Cohen did, according to the New York Post.

The newspaper reported Sunday that the founder of Point72 Asset Management tore down his mansion in the Hamptons "several weeks ago" so he could build a new one. Cohen had paid $62.5 million for the 10,000-square-foot home, the Post said.

The Post also said, citing plans filed in East Hampton, that Cohen's new house will feature a 9,700-square-foot first floor, a 4,620-square-foot second floor and a pool house.

A spokesperson for Cohen declined CNBC's request for comment.

Cohen recently made real estate news after cutting the asking price for his Manhattan penthouse to $72 million — $43 million below its original 2013 listing .

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