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Life Sciences Leasing Doubled in New York City Last Year

The life sciences sector keeps proving that it’s pandemic-proof. Leasing for the life sciences sector more than doubled around New York City between 2019 to 2020, reaching its highest level in nearly a decade.

All told, life sciences companies took 155,925 square feet of laboratory and other-related space around the city, the largest amount since at least 2011, according to the report.

The bulk of that was in Manhattan, with 137,925 square feet leased in the borough. Contrast this with office leasing, which plunged 56 percent annually in 2020 in Manhattan.

Commercial Observer

Photo by Satheesh Sankaran on Unsplash


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