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Manhattan’s far west side is getting a new life science facility. The Georgetown Co. has redeveloped of a 200,000-square-foot property to create a laboratory, research, clinical and biomedical facilities. The property is already fully leased to Mount Sinai’s Icahn School of Medicine and designer, scientist and inventor Neri Oxman.

Georgetown purchased the site in 2015 in partnership with Pershing Square Capital Management’s Bill Ackman, Arnold Schwarzenegger, LeBron James and Jimmy Iovine after identifying the demand for life science facilities in the submarket. It conducted a $100 million renovation and redevelopment of the existing facility to accommodate life science tenants. The redevelopment included adding 60,000-square-foot floor plates and generous ceiling heights to accommodate specialized laboratory and mechanical equipment. The property also has natural light across the entire perimeter of the building. It is one of the largest life science campuses in New York City, according to Georgetown.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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