The Icahn School of Medicine at Mount Sinai has signed a 10,000 square foot lease at the 320,000-square foot research facility on Manhattan’s West Side
NEW YORK – January 8, 2024 – Elevate Research Properties, the life sciences subsidiary of Taconic Partners, and Silverstein Properties have signed a long term lease with the Icahn School of Medicine at Mount Sinai (Icahn Mount Sinai) for a 10,000 square foot lab suite at The Hudson Research Center. The space will be used by the medical school as the new home of the Human Immune Monitoring Center (HIMC) led by Principal Investigator Dr. Miriam Merad who is the Director of the Lipschulz Precision Immunology Institute at Icahn Mount Sinai and the Chair of the Department of Immunology and Immunotherapeutics. The HIMC is a highly innovative hub that characterizes individual patients’ immune systems and offers personalized guidance around diagnosis, treatment, and prognosis.
Icahn Mount Sinai is part of a strong research ecosystem within The Hudson Research Center that includes the New York Stem Cell Foundation, c16 Biosciences, Enceladus Bio, and the Rensselaer Polytechnic Institute, who partnered with Icahn Mount Sinai to open the Center for Engineering and Precision Medicine (CEPM) at the building earlier this year.
Elevate Research Properties is in the process of building out the last vacant floor at the building which is now over 90% leased. Those new prebuilt labs are anticipated to be delivered in October 2024.
“We continue to see the resiliency of the life sciences market here in New York City at a time when the overall commercial real estate market remains challenged by macro-economic conditions,” said Matthew Weir, President, Elevate Research Properties. “We are excited to grow our relationship with Mount Sinai and are proud to be nearing the end of our successful redevelopment of the Hudson Research Center.”
Located at 619 West 54th Street, the Hudson Research Center is a state-of-the-art life sciences facility that has helped to establish Midtown West as one of the city’s preeminent life science clusters. Originally built in the 1930s as a film-editing house for Warner Brothers Pictures, Taconic Partners via its subsidiary Elevate Research Properties in Partnership with Silverstein Properties has invested over $56 million in comprehensive capital improvements to date, to deliver the requisite mechanical equipment, lab systems and amenity spaces to create a strong center for scientific research.
“We found that the prebuilt wet lab space that Elevate/Taconic constructed allowed us to ramp up our operations quickly which made it ideal for our purposes” said Thomas Ahn, System Vice President of Real Estate for Mount Sinai Health System.
For more information about Hudson Research Center, please visitwww.hudsonresearchcenter.com .
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ABOUT ELEVATE RESEARCH PROPERTIES
Motivated to create environments that inspire world-changing scientific ventures, Elevate Research Properties builds, manages and operates premier life science real estate facilities in strategic core markets. Elevate Research Properties is a wholly owned subsidiary of Taconic Partners with a development portfolio totaling 1.4 million square feet of lab space and approximately $2 billion in total investment. For more information, visit www.elevateresearchproperties.com.
ABOUT TACONIC PARTNERS
Since 1997, Taconic Partners has acquired, redeveloped and repositioned over 12 million square feet of commercial office and mixed-use space, as well as over 6,500 units of luxury and workforce housing. As a fully integrated real estate company with a keen eye for uncovering value, its diverse capabilities are evidenced by its multifaceted success with luxury properties, as well as adaptive reuse and urban revitalization projects. In New York City, Taconic is advancing over 1.4 million square feet of life sciences space through Elevate Research Properties, including West End Labs, Hudson Research Center and 309 East 94th Street. Other active Taconic projects include 817 Broadway, 311 West 42nd Street and Essex Crossing on the Lower East Side. The firm also manages various real estate funds on behalf of institutional and pension fund investors. For more information visit: www.taconicpartners.com.
ABOUT SILVERSTEIN PROPERTIES
Silverstein Properties is a privately held, full-service real estate development, investment and management firm based in New York. Founded in 1957 by Chairman Larry Silverstein, the company has developed, owned and managed more than 40 million square feet of commercial, residential, retail and hotel space. Recent projects include 7 World Trade Center, the first LEED-certified office tower in New York City (2006), 4 World Trade Center (2013), the Four Seasons Downtown (2016), One West End (2017) and 3 World Trade Center (2018). The company has been recognized as one of the “Best Places to Work in New York City” by Crain’s New York Business for eight years in a row. For further information on Silverstein Properties, please visit www.silversteinproperties.com.
ABOUT THE ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI
The Icahn School of Medicine at Mount Sinai is internationally renowned for its outstanding research, educational, and clinical care programs. It is the sole academic partner for the eight member hospitals* of the Mount Sinai Health System, one of the largest academic health systems in the United States, providing care to a large and diverse patient population. Ranked 14th nationwide in National Institutes of Health (NIH) funding and among the 99th percentile in research dollars per investigator according to the Association of American Medical Colleges, The Icahn School of Medicine at Mount Sinai has a talented, productive, and successful faculty. More than 3,000 full-time scientists, educators and clinicians work within and across 34 academic departments and 35 multidisciplinary institutes, a structure that facilitates tremendous collaboration and synergy. Our emphasis on translational research and therapeutics is evident in such diverse areas as genomics/big data, virology, neuroscience, cardiology, geriatrics, as well as gastrointestinal and liver diseases. The Icahn School of Medicine at Mount Sinai offers highly competitive MD, PhD, and Master’s degree programs, with current enrollment of approximately 1,300 students. It has the largest graduate medical education program in the country, with more than 2,000 clinical residents and fellows training throughout the Health System. In addition, more than 550 postdoctoral research fellows are in training within the Health System. To learn more, please visithttps://icahn.mssm.edu/
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