The Janus Property Company has signed a lease for lab space at The Mink Building with Volastra Therapeutics, a biotech company that works in the development of cancer treatments.
Volastra will occupy 11,000 s/f of specialized space that includes a chemical fume hood, vacuum system, autoclave pressure chamber and unlimited-time emergency power produced by a high-pressure gas-fired generator. All tenant systems are controlled by Volastra through a dedicated Siemens BIM system.
“Having a first-class lab facility is critical at this point in Volastra’s growth,” said Samuel Bakhoum, MD, PhD, a Volastra founder. “Having our lab facilities at this location in Manhattan will help us to attract top talent as we focus our energy on our research and advancing our programs towards the clinic.”
The lease was structured with the potential for easy expansion and term extension, according to Scott Metzner, principal of Janus Property, which has redevelopment The Mink Building as part of its 1.1 million square feet master planned Manhattanville Factory District.
“We’re thrilled to welcome a company of Volastra’s importance to the District,” said Metzner. “Volastra is involved in potentially game-changing cancer research and we are honored to help them achieve their goals.”
The lease is the latest Janus has signed with a life sciences company as it looks to populate Manhattanville Factory District with leading science, technology, engineering and math (STEM) companies and deliver on a promise by Governor Andrew Cuomo and Mayor Bill de Blasio to make West Harlem a life science hub.
Volastra joins Harlem Biospace and Renal Research Institute in the developing cluster adjacent to Columbia University and CUNY’s City College and just south of the Columbia Medical Center campus.
“Thankfully, even in New York’s active biosciences ecosystem, the District is generating a great deal of interest, and we look forward to announcing further important companies and not-for-profits that will be joining us soon,” said Metzner.
The Mink Building, located on West 126th Street at 1361 Amsterdam Avenue in the Manhattanville Factory District, has been completely re-built by Janus with technology-enabled office and lab settings for life sciences, TAMI, design, arts and not-for-profit tenants, among others. Asking rents for lab tenants are in the low-$90’s psf.
The Manhattanville Factory District spans east from Amsterdam Avenue from West 125th to West 128th Streets. In addition to the Mink Building, the District includes the newly constructed Malt House, Sweets Building and 350,000 s/f Taystee Lab Building to be delivered in early-2021, with built-in life sciences infrastructure.