Steve Cohen

It must be hard knowing exactly how to feel about a year with the kind of extreme highs and lows that the past 12 months have held for Point72 head Steve Cohen.

On one hand, after years of planning and politicking, Cohen’s gaming license for his Metropolitan Park casino and development in Queens scored final approval in December 2025.

It was the plum that seemingly every serious real estate developer in New York City reached for.

Metropolitan Park, a joint venture between Cohen and Hard Rock International, will be an $8.1 billion complex built on 78 acres surrounding Cohen’s Citi Field stadium, where his New York Mets play baseball. The complex is scheduled to include a Hard Rock hotel, a 5,650-person live entertainment venue, a transformation of the 7 train’s Mets-Willets Point station, a 100 percent affordable housing project with 450 units, and 25 acres of new public park space — in addition to over $1.75 billion in community benefits and infrastructure improvements.   

The project is slated to make billionaire Cohen an even more prominent power player in New York City than he already is, as one of the few figures who can ignite a significant transformation of a portion of the five boroughs.

In other big news for Cohen, in November 2025, according to Bloomberg, Point72 — which the media outlet described as Cohen’s “$41.5 billion investment empire” — expanded to begin raising money for a private credit fund in 2026. Bloomberg said the firm would take in “at least $1 billion from external investors,” including an investment from Cohen himself, and that the fund would be run by Todd Hirsch, who Point72 had hired away from Blackstone in January 2025 to become its head of private capital.   

Cohen’s Point72 also expanded its office space in Hudson Yards in March 2026 by taking 59,746 square feet at 66 Hudson Boulevard, adding to its 175,000-square-foot presence at 55 Hudson Yards.

In the midst of all this good news, the Wall Street Journal reported in March 2026 that Point72 had lost $1.5 billion in one week due to the war in Iran. Even so, the firm remained in positive territory for the year to that point, according to the Journal. And, one month later, Bloomberg was reporting that funds including Point72 had made strong recoveries due to a
ceasefire.

Point72 also announced in late April 2026 that Cohen would hand off the title of president to company co-CIO Harry Schwefel. According to Bloomberg, Cohen would be forming an executive committee to “help him lead the firm’s strategy and direction.”

So, on one hand, you have all this (mostly) good news flowing in for Cohen and Point72 for the past year-plus.

But on the other hand — the New York Mets.