New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Georgetown Establishes Life Science Hub at Redeveloped 787 Eleventh Ave.
The Georgetown Company is establishing a life science hub spanning more than 200,000 square feet at its 787 Eleventh Ave. redevelopment on Manhattan’s Far West Side. Mount Sinai’s Icahn School of Medicine will occupy 165,000 square feet, while designer, scientist and inventor Neri Oxman is developing a 36,000-square-foot research and design lab.
With the addition of these two tenants, the building is now 100% leased.
To finance Mount Sinai’s facility—reportedly a larger space than the total life science square footage leased citywide in 2020–Georgetown has secured $100 million from Guggenheim Investments for construction of the space.
A JLL team of Peter Riguardi and Steven Rotter partnered with the Georgetown Company, while their colleagues Rob Martin and Barbara Winter represented Mount Sinai in the lease. Russell Schildkraut of Ackman-Ziff helped secure the TI financing.
- ◦Lease
