"Economics, location, building dynamics and high-qualityowner/management drove this deal," says David Dusek, seniormanaging director at Studley, in a release. "After an extensivesearch, we ascertained that it made the most sense for Genzyme toremain in place because of the building's infrastructure, whichmeets the company's requirements for HVAC, power, laboratory spaceand temperature control systems."

Dusek tells GlobeSt.com that other options that were scoutedincluded sites in lower Westchester County--where Long Island-basedbiotech firmOSI will relocate--northern New Jersey, Brooklyn and locationsin Manhattan, including the Hudson Square neighborhood, theforthcoming East River Science Park and other properties on theWest Side.

Genzyme has been located at 521 W. 57th since 2004, when itacquired building tenant Impath Technology in a bankruptcy sale.Dusek says in a release that it's the company's long-term strategicplan to grow the business at its New York City hub.