Manhattan, NY 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 s/f 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 an 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 St., 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.
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