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New York & Tri-State  + Outer  + Healthcare  |  December 21, 2021
43TEN Rendering Long Island City Longfellow
Paul Bubny
By: Paul Bubny

Longfellow Enters NYC Life Sciences Market with LIC Deal

Longfellow Real Estate Partners, in partnership with Sculptor Real Estate, has acquired 43-10 23rd St. (43TEN) in Long Island City, marking the developer’s debut in New York City. Redevelopment of the project will begin immediately, transforming the existing office building into lab space over the next 19 months. Completion is scheduled for the second quarter of 2023. 

“With renowned institutions, deep talent pool, and continued innovation, New York City is primed for growth in the life sciences, and Longfellow is dedicated to providing world-class space for innovators to continue their life-changing work,” said Longfellow CEO Adam Sichol. 

The sale was arranged by Cushman & Wakefield with a team led by Josh King, Adam Spies, Adam Doneger and Rachel Humphrey. Cushman & Wakefield also arranged $155 million in debt financing from Square Mile Capital with a team led by Gideon Gil, Lauren Kaufman and Meredith Donovan. 

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LongfellowCushman & Wakefield's King

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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