The need for Life Science real estate space is a very strong trend, not only in New York but across the country and it drives the value across life sciences real estate portfolios.
New York has the largest pool of people with a Life science background.
Building owners and developers recognize this trend and opportunity and are planning to accommodate NYC Biotech and Pharmaceutical tenants.
For life science real estate developers this type project means selecting a top team of life science real estate consultants, architects and engineers collaborating to a successful completion.
Tishman Speyer a New York based developer and operator of commercial properties, has partnered with Bellco Capital, an investment company founded by Drs. Arie & Rebecka Belldegrun to form Breakthrough Properties. Their goal is to develop and operate life science properties in technology centers around the world. The focus will be on research in biotechnology, developing medical treatments, agriculture & nutrition.
Life Science innovation is happening at a fast pace as technology and science continue to merge.
Currently New York has approximately 21 Life Science and Biotech Center buildings. A few of them are: Weill Cornell Medical College, NYU Langone Medical Center, Mount Sinai Beth Israel and Eli Lilly and Company.
New York City is perfectly positioned for major success in the life sciences industry with world renowned research, talent and resources that no other city can offer.
Some of the other commercial real estate companies looking to bring life science tenants to the city are Taconic, Silverstein & Alexandria, Vornado Realty Trust and Related Companies.
Bio Labs managing director Nicole McKnight says “the amount of research coming out of the city’s universities, combined with the capital here are all the ingredients to put New York in the top 3 Nationwide with San Francisco and Boston”.
Taconic’s Weir says “New York City’s # 1 asset is it’s talent, that’s why we believe this market will ultimately be very successful’.
Brooklyn currently has a life science facility located in the Brooklyn Army Terminal at 140 58th Street, building A.
There is a planned life science building to be located at the Brooklyn Navy Yard, 63 Flushing Avenue, building 77.
If you are interested in selling your property or you know someone who is planning to sell their Brooklyn New York property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.
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