New York & Tri-State + Uptown/Bronx + Healthcare | February 21, 2023

NYC Push for More Lab Space Will Spur Development Opportunities, Says Joseph Simone

New York City’s aggressive push to build 10 million square feet of new life sciences laboratories will create new development opportunities, said Joseph Simone, president of Simone Development Companies.

“New York City announced in January that it will invest $20 million for the creation of a biotech hub at the Brooklyn Navy Yard, which is the latest in a series of investments throughout the outer boroughs that will bring development and new jobs to neighborhoods primed for revitalization,” said Simone.

The city’s investment at the Brooklyn Navy Yard and other locations outside of Manhattan reflects a shift to neighborhood-based economic development. In the Bronx neighborhood of Morris Park, New York City has deployed this strategy by investing in an innovation lab for early-stage life science startups at the Albert Einstein College of Medicine, which sits across the street from Simone Development’s Hutchinson Metro Center.

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Simone Development's Simone

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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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