Life Science Tenant Expands in Lower Manhattan

250 Hudson Street. Image courtesy of Jack Resnick & Sons

Fertility tech company TMRW Life Sciences has signed a 12-year lease and will expand its corporate headquarters at 250 Hudson Street, a Class A office tower in the Hudson Square submarket of Lower Manhattan.

Avison Young arranged the transaction on behalf of the tenant, while the landlord, Jack Resnick & Sons, was represented in-house by Executive Managing Director Brett Greenberg and Managing Director Adam Rappaport.

TMRW Life Sciences has increased its presence in the multi-tenant building nearly seven times since moving into the 15-story building a little over two years ago. The firm currently occupies a 5,500-square-foot space on 250 Hudson Street’s seventh floor. With the newly inked lease, TMRW will move and occupy the whole sixth floor, as well as parts of the ground floor, totaling 38,000 square feet.

In addition to housing TMRW’s corporate headquarters, the new space at 250 Hudson Street will include teams responsible for product and engineering along with research and development, as well as sales, marketing and training.

250 Hudson Street

Jack Resnick & Sons bought the 394,424-square-foot tower, originally developed in 1932, in the late sixties. In 2008, Jack Resnick & Sons completed the office conversion of 250 Hudson Street following a $40 million capital investment. The building has achieved LEED Gold, WiredScore Platinum as well as Energy Star certifications.

The property features high ceilings, open floors, a two-story lobby with limestone walls and terrazzo floor, as well as a penthouse level together with a 10,000-square-foot landscaped roof deck available to all tenants. Notable tenants include Edelman Leather, Bed Bath & Beyond, Mekanism and Lieff Cabraser Heimann & Bernstein, according to CommercialEdge data.

The property provides easy access to subway lines 1, C and E as well as the Holland Tunnel and Westside Highway. The office tower is within 3 miles of 50 Hudson Yards, the biggest office development underway in the borough.

Life science’s NYC future

In March, a JLL ranking of future life science hubs named New York-Newark-Jersey City as the leading area for number of STEM graduates by far, topping a list of 110 U.S. markets.

In June, New York City doubled down on its life science investment, committing $1 billion to the sector. Launched in 2016, the LifeSci NYC initiative is anticipated to bring more than 3 million square feet of life science space expected to create 16,000 jobs by 2026.