NEW YORK CITY — Alexandria Real Estate Equities is filling a void in the New York City office market with the completion of Phase I of a life science campus in Manhattan. The first building at the Alexandria Center for Life Science – New York City is a 15-story structure containing 310,000 square feet of space.
The building is located at 450 E. 29th St. and already has leases signed or commitments for almost all of its space. ImClone Systems, an Eli Lilly & Co. subsidiary, will be headquartered in the new building. Other named tenants include Kadmon Pharmaceuticals and Firmenich. Alexandria Real Estate also gave indication that other tenants at the building will include a neuroscience translational research entity as well as a scientific collaboration unit for therapeutic innovation that is being sponsored by a large pharmaceutical company. The building will also house pharmaceutical company representatives as well as traditional venture capital firms.
In addition to the office space, the LEED-Silver certified building contains Appella, a state-of-the-art conference and event center. It also features two restaurants by famed chef Tom Colicchio — Riverpark and an artisanal sandwich shop named wichcraft.
Alexandria anticipates the life science campus will contain three buildings and approximately 1.1 million rentable square feet of space at full build-out . In a statement, New York City Mayor Michael Bloomberg said, “New York City has all the makings of a major center for commercial life science — an unparalleled workforce, top academic and medical institutions, and prime access to investment capital — but we've lacked sufficient state-of-the-art commercial lab space to capitalize on those advantages. The new Alexandria Center for Life Science is addressing that need in a major way.”
— Coleman Wood