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45 18 Court Square West

BioLabs@NYU Langone Leases 46000 Square Feet At 45-18 Court Square West In Long Island City
LEASEDLife Sciences

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:

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

Bill Harvey

JLL

Broker

$40M

vol

3 deals

Broker
JLL
JLLBrokerage
Brian Steinwurtzel

Brian Steinwurtzel

GFP Real Estate

Landlord

$1.1B

vol

18 deals

Landlord
GFP Real Estate
GFP Real EstateLandlord

Long Island City Life Sciences Market Snapshot

Boundary boundary · Life Sciences · Lease transactions

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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