NEW YORK--(BUSINESS WIRE)--The New York Genome Center (NYGC) and Edward J. Minskoff Equities, Inc. (EJME) are pleased to announce the execution of a 20-year lease for 170,000 square feet at 101 Avenue of the Americas (www.101AofA.com), one of EJME’s premier high-rise properties in Manhattan’s Hudson Square neighborhood.
The NYGC headquarters, located on seven floors of this newly renovated, LEED Silver-certified building, will begin construction in July. The $47 million facility build-out, expected to be completed by mid-2013, will include sequencing, bioinformatics, and research labs, an Innovation Center to advance new technologies, and computing infrastructure to handle the processing and storage of massive amounts of new data. The facility will also include a ground-floor auditorium and café, training facilities, and administrative offices. Initially housing 100 employees, the center is expected to grow to 500+ employees over the first five years of operations.
Major computing support for these activities will be provided at the new Sabey Intergate.Manhattan facility at 375 Pearl Street, where NYGC has established its offsite data center. The entire facility is secure within the boundaries of 1 Police Plaza; guarded by NYPD and Homeland Security personnel.
NYGC began offering sequencing, bioinformatics, and data storage services in February 2012, and expanded these services in mid-2012 through the launch of its pilot lab facilities at The Rockefeller University. The 101 Avenue of the Americas location will allow for these services and research operations to expand dramatically.
“This announcement marks another important milestone for NYGC, our Institutional Founding Members, and the City and State of New York,” notes Nancy J. Kelley, Founding Executive Director of NYGC. “Our facility will be home to one of the world’s largest genomic centers, combining innovative thinking, leading edge technology, and an entrepreneurial spirit.”
“Thanks to our world-class universities, medical research centers, and pharmaceutical companies, New York is already a global leader in the commercial life sciences,” said Mayor Michael R. Bloomberg. “The New York Genome Center will make us even more of a world leader in the life sciences, in much the same way that the applied sciences campuses we’re developing on Roosevelt Island and in Downtown Brooklyn will further solidify New York’s leadership in the tech sector.”
The new home for NYGC is another chapter in New York’s growth as a hub for science and technology. “As a long-term New York landlord and developer, we appreciate the positive impact that NYGC will have not only in our building, but also throughout the City and around the globe,” said Edward J. Minskoff. “We also are particularly excited to have an anchor tenant like NYGC at 101, a testament to the development and growth prospects in the Hudson Square area.” EJME is contributing close to $9 million in tenant improvements in the building.
NYGC’s long-term service agreement with Sabey will enable NYGC to create a scalable system that will grow along with the center and seamlessly link its members and other collaborators. To augment data storage with low-cost, sustainable hydro power, NYCG will also use Sabey’s Intergate.Quincy data center in Washington state and Sabey’s IGX network that interconnects the company’s data centers throughout the U.S.
“From the outset, Sabey has been impressed by NYGC’s vision and passion. Together, we can build an unparalleled resource for analyzing, sharing, and storing genomics data and findings,” said Dave Sabey, CEO of Sabey Corp., parent of Sabey Data Centers.
“The world-class facilities and data infrastructure that NYGC and its partners are developing have the potential not only to transform healthcare and science,” said Kelley, “but also to be an innovative and collaborative engine for substantial economic activity and new venture formation in New York.”
For more information on NYGC’s vision for 101AOA, please visit: www.nygenome.org/101AOA.
About the New York Genome Center
Founded in August 2010, NYGC is an independent non-profit that magnifies the expertise and resources of world-class universities, medical centers, technology partners, pharmaceutical companies, and private philanthropists that are engaged in a cooperative effort to transform medical research and clinical care. NYGC’s Institutional Founding Members include: Cold Spring Harbor Laboratory, Columbia University, Cornell University/Weill Cornell Medical College, The Jackson Laboratory, Memorial Sloan-Kettering Cancer Center, Mount Sinai Medical Center, NewYork-Presbyterian Hospital, New York University/NYU School of Medicine, North Shore-LIJ Health System, The Rockefeller University, and Stony Brook University. The Hospital for Special Surgery is an Associate Founding Member.
NYGC will serve as a transformational catalyst for the future of science and medicine by creating an intellectually vibrant collaboration among the biomedical and research communities in New York. NYGC intends to become one of the largest genomic facilities in North America, establishing an unprecedented, large-scale collaborative venture in genomic medicine. The NYGC model (1) facilitates adoption of personalized medicine through its Institutional Founding Members that collectively treat millions of patients each year; (2) drives therapeutic and diagnostic product development by connecting technology collaborators and the pharmaceutical industry directly to researchers and clinicians at the front lines of discovery; and (3) accelerates the entire translational process by linking all the stakeholders in information-enabled common projects.
To date, NYGC has raised over $110 million in funds from its Institutional Founding Members; philanthropies such as the Simons Foundation, the Alfred P. Sloan Foundation, and Bloomberg Philanthropies; and other strategic relationships, including the New York City Economic Development Corporation and the New York City Investment Fund.
Edward J. Minskoff Equities, Inc. is a Manhattan-based developer, investor, and manager of Class A office and mixed-use property. It has acquired or developed 590 Madison Avenue, 1325 Avenue of the Americas, 825 Seventh Avenue, 101 Avenue of the Americas, and the mixed-use complex known as 101 Warren Street, 270 Greenwich Avenue, and 89 Murray Street in Manhattan, and the regional headquarters building for the Federal Aviation Administration in Queens. It also owns a number of investment properties including condominium interest at 1166 Avenue of the Americas. Edward J. Minskoff was formerly executive officer and principal at Olympia & York, which developed the 7.5 million square foot World Financial Center and more than 26 million square feet of office space in Manhattan and throughout the country.
Founded in 1987, EJME has assembled an in-house construction, management, and leasing staff that monitors all phases of work of each development project. Through the supervision of its inhouse personnel, EJME has been able to establish a national presence as a full-service real estate company. EJME has extensive experience in all aspects of commercial property and facilities management and has provided services for a diverse roster of landlords and tenants.
About Sabey and Intergate.Manhattan
Intergate.Manhattan, at 375 Pearl Street, Manhattan, is New York City’s only purpose-built data center. It will offer new Con Ed high tension service with 2N redundant service delivered at 13,200 volts. It will have 72 MW of back-up emergency generator capacity. The data center will offer robust carrier and fiber path diversity with access to every carrier in New York City, with low latency access to all major financial exchanges. Intergate.Manhattan is also located at the most secure location in the city, with building access controlled by biometric and card devices. At Intergate.Manhattan Sabey will offer turnkey, powered shell and laboratory space, together with conventional office space. Intergate.Manhattan sits at a confluence of growth markets including the financial, internet-based service and networking, insurance, and healthcare sectors, particularly in life sciences research. Mission critical computing in these areas demands varying levels of availability and latency sensitivities.
Sabey has established a strategic partnership with the National Real Estate Advisors (NREA) and mutually beneficial relationships with the nation’s leading labor organizations in the electrical and communications sectors. Sabey presently owns more than three million square feet of data center space.