Metropolitan Park
Steve Cohen, the billionaire investor and owner of the New York Mets, has revealed plans for the Metropolitan Park development next to Citi Field in Queens, which will include a new gambling casino. The project will be developed with Hard Rock International.
Citi Field, home of the Mets, opened in 2009, more than a decade before Cohen bought the club. The field is owned by the team.
There have been various plans for developing the surrounding areas since the new stadium first opened. It is somewhat of an eyesore with a series of old garages located to the west of Citi Field.
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Steve Cohen and his partners said that Metropolitan Park will create nearly 15,000 good-paying permanent and construction jobs. It will have 20 acres of new park space and 5 acres of community athletic fields and playgrounds, climate-ready infrastructure including solar, green roofs, and flood mitigation, an entertainment complex with a Hard Rock hotel, a live music venue, and gaming.
The new Queens food hall will feature local vendors and affordable and authentic dining options.
Well, Steve Cohen needs a big win after he spent $340 million on his New York Mets’ team payroll only to see the Major League Baseball club miss the playoffs with a losing record.
In addition to a new hotel and casino, Metropolitan Park will offer publicly accessible open and green space, community athletic fields, playgrounds and gardens.
“It’s time the world’s greatest city got the sports and entertainment park it deserves,” said Steve Cohen. “When I bought this team, fans and the community kept saying we needed to do better. Metropolitan Park delivers on the promise of a shared space that people will not only want to come to and enjoy but can be truly proud of.”
“Hard Rock at Metropolitan Park will be rooted in the spirit of music while embracing the unique culture and character of Queens,” said Jim Allen, Chairman of Hard Rock International. “Metropolitan Park captures the energy and vision of bringing people together for memorable shared experiences that exemplifies the company’s mottos to Love All Serve All, All is One, Save Time to Be Kind and Save the Planet. We’re excited to bring our unique brand of world class entertainment to Queens.”
Steven A. Cohen is the Chairman and Chief Executive Officer of Point72, a 2,000+ person registered investment advisor. Mr. Cohen founded S.A.C. Capital Advisors in 1992 and converted his investment operations to the Point72 Asset Management family office in 2014.
Steve Cohen has leveraged his lengthy career in the public markets to found Point72 Ventures, a global venture capital strategy, and Point72 Hyperscale, a private equity strategy that seeks to drive value creation through applied AI.
