Life Science and Lab Space in New York City
Find the right property, avoid hidden costs, and negotiate favorable terms.
Find the right property, avoid hidden costs, and negotiate favorable terms.
Find the perfect Life Sciences & Biotech Space for Rent in NYC with Metro Manhattan! Between 2019 and 2020, the Life Sciences and Biotech sector leased over 135,000 square feet of laboratory space in Manhattan – an all time record. Combined with the lowest commercial rents in decades due to the pandemic, you have an opportunity to establish a strong global presence by choosing to open your new research facility in Manhattan. You would save a substantial amount of money by taking advantage of current pricing and amicable offers from landlords, including elaborate buildouts to serve the needs of your research facility.
The year 2020 saw nearly 60 new companies rent Life Sciences & Biotech space in New York City. Currently, NYC employs around 55,000 people in this industry – giving you access to excellent research and staff talent to choose from.
Total commercial space for Life Sciences and Biotech use in NYC was about 1.7M square feet at the end of 2020, and it’s expected to grow to over 4M square feet by 2025 according to recent industry reports.
For over 17 years, Metro Manhattan Office Space has successfully negotiated many hundreds of leases for office space in New York City. Make use of our knowledge of the available listings, landlords and buildings, and take advantage of record low square footage costs in 2023 by securing a highly favorable long-term lease to reduce your business’s long-term real estate costs. Browse our listings or call us for access to thousands of properties not currently listed on our site: (212) 444-2241
As per the list above, laboratories and research facilities require appropriately zoned buildings with highly specialized and elaborate infrastructure to accommodate tenants in the Life Sciences and Biotech industries. While the choices of buildings and neighborhoods are somewhat more limited compared to general use office space, it is projected that 1.1M square feet of space for Life Sciences and Biotech use will become available by the end of 2021 in Manhattan and greater NYC.
Landlords who serve this market fully understand the complex requirements of their tenants, as well as the general importance of life-changing work that goes on in these facilities.
In 2020 and 2021, the COVID-19 pandemic has created a sharp uptick in demand for research and laboratory spaces compared to 2019. Manhattan and NYC have seen around 850,000 square feet of new demand for commercial space within these industries. $2.5B of new venture capital funding has been allocated to the Life Sciences and Biotech industries, which helped strengthen the industry as a whole and position Manhattan as one of the top 10 cities in the United States for Life Science and Biotech research.
These buildings have been recently converted for laboratory use to serve Life Sciences and Biotech companies and startups in Manhattan:
(Updated September 2023)
Upper East Side: $60.00 to $120.00 per square foot
Upper West Side: $55.00 to $90.00 per square foot
Midtown Manhattan: $40.00 to $90.00 per square foot
If you are looking to lease a laboratory space for Life Sciences and Biotech use in Manhattan and NYC, give us a call at (212) 444-2241 and let us assist you with your challenge. We’ve helped customers just like you, and we understand the requirements and constraints pertaining to your highly specialized industry.
