Steven Cohen’s Point72 Heads To 55 Hudson Yards
Hudson Yards just got another high-profile tenant—Point72 Asset Management, the company responsible for managing Steven Cohen’s $11B fortune, just inked a 175k SF lease at 55 Hudson Yards.
The 1,000-employee firm plans to move into its new space and vacate its current home at 510 and 330 Madison Ave in 2018, Reuters reports. Hudson Yards is the largest private real estate development in the US, and it will feature 17M SF reserved for commercial and residential use.
Steven Cohen amassed his fortune through SAC Capital, a hedge fund he founded. In 2013, traders at his firm were convicted of insider trading and SAC Capital agreed to pay a $1.8B fine, while earlier this year Cohen reached a personal settlement with the SEC. [Reuters]