BioLabs@NYU Langone Leases 46000 Square Feet At 45-18 Court Square West In Long Island City
45 18 Court Square West
Building Size
46,000 SF
Asset Type
Life Sciences
Closing
Nov 20, 2025
AI
The property involved in the transaction is a life sciences asset located at 45-18 Court Square West in Long Island City, comprising a total of 46,000 square feet. This lease transaction signifies an expansion for NYU Langone within the Innolabs building, following a previous commitment of 105,000 square feet in the prior year.
Summary of transaction details:
- Property Type: Life Sciences
- Transaction Amount: Not specified
- Square Footage: 46,000
- Address: 45-18 Court Square West
- Market: Long Island City
- Landlord: Brian Steinwurtzel & Eric Gural - GFP Real Estate
- Tenant: BioLabs@NYU Langone
- Brokers: John Cahill, Maeve Trudeau, Bill Harvey & Thomas Burrus - JLL
The key individuals involved in this lease transaction include the landlords Brian Steinwurtzel and Eric Gural representing GFP Real Estate, while BioLabs@NYU Langone is the tenant. The brokerage team from JLL includes John Cahill, Maeve Trudeau, Bill Harvey, and Thomas Burrus, facilitating the agreement and negotiation of the terms for this significant expansion.
Players
Long Island City Life Sciences Market Snapshot
Boundary boundary · Life Sciences · Lease transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93