King Street Properties and GFP Real Estate have broken ground for Innolabs, a new state-of-the-art life sciences facility at 45-18 Court Square in Long Island City.
The new 267,000 s/f property will provide lab and office spaces for New York’s scientists.
A ground breaking ceremon was attended by Thomas Ragno, founder & principal, King Street Properties; Brian Steinwurtzel, Co-CEO GFP Real Estate; Rob Albro, managing director, King Street Properties; Eric Clement, managing director, Strategic Investments, NYCEDC; Kathy Wylde, president & CEO, Partnership for NYC; and Elizabeth Lusskin, president, LIC Partnership.
“The Court Square location made an immediate impression on us,” said Ragno. “With access to seven subway lines, a variety of amenities, and a dynamic live-work setting, Innolabs is ideally positioned to be at the center of the growing life science market in New York City.”
“It is exciting to see the life sciences flourish and develop throughout New York City with the development of state-of-the-art lab facilities,” added Eric Clement, Managing Director, Strategic Investments, NYC Economic Development Corporation.
“The new dynamic lab and office spaces at Innolabs will help foster and promote the life sciences industry in Long Island City’s emerging district.”
The facility will encompass and provide all the features life sciences companies require to succeed, including lab and office spaces, a dynamic layout that will allow tenants to work productively and efficiently in collaborative environments in a centralized location.
Amenities will include bike storage, a grab and go cafe, showers and professional spaces to host industry events. “The property will provide desperately needed space for businesses dedicated to the advancement of life science technologies,” said Steinwurtzel, Co-CEO of GFP Real Estate, “The cluster in Long Island City is forming and we are thrilled to play a part in this exciting project.”
