Georgetown president and CEO Adam Flatto and a rendering of 787 11th Avenue
The Georgetown Company will bring a life-sciences hub to Manhattan’s Far West Side, where Icahn School of Medicine at Mount Sinai has signed a long-term lease.
The medical school took 165,000 square feet at 787 Eleventh Avenue, the former auto showroom building Georgetown purchased with Bill Ackman several years ago to convert to high-end offices. Georgetown announced news of the lease Thursday.
The building sits in a life-sciences corridor on the West Side that is becoming a hub for these kinds of companies.
“This is just the beginning of demand for more life-science companies to move into this submarket, given the strength of other medical companies and institutions in this area of the Far West Side,” JLL’s Steven Rotter told
The Georgetown Company has signed a 165,000 s/f long-term
lease with Mount Sinai’s Icahn School of Medicine at its new life science hub
at 787 11th Avenue on the Far West Side.
The developer is also creating a 36,000 s/f research
facility for scientist and inventor Neri Oxman which will render the redeveloped
property fully occupied.
“The pioneering work these scientists and physicians perform cannot be done remotely over Zoom,” said Georgetown Company managing principal Jonathan Schmerin.
JONATHAN SCHMERIN
“We believe that we
are only scratching the surface of the demand for life science space given the
strength of our medical institutions and the talent pool in this area and we
Press release content from Business Wire. The AP news staff was not involved in its creation.
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February 26, 2021 GMT
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These managers made bank
Today, Institutional Investor unveiled the 20th edition of its Rich List, one of the most watched rankings of hedge fund managers’ performance. Every year, financial tycoons pore over the magazine’s estimates of whose fortunes are up the most.
Last year, the top 25 managers earned $32 billion even as the economy crashed and markets wobbled. Over all, hedge funds returned 11.6 percent last year, according to Hedge Fund Research, their best performance in a decade but not enough to keep pace with the S&P 500, which was up 16 percent.
“It may not be seemly, but it remains fact,” the magazine’s editors wrote.