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Grand Central Tech and Milstein’s technology venture plans $52M life sciences hub in Midtown

The Midtown technology campus launched earlier this year by Milstein Properties and Grand Central Tech is looking to get in on the biotech and life sciences craze. Company, the venture the two formed earlier this year to manage Milstein’s 1.1 million-square-foot office building at 335 Madison Avenue, now plans to convert the top 15 floors of a nearby building on East 43rd Street into a $51.8 million life-sciences nerve center, an application for public assistance shows.

“As a building, 6 East 43rd Street is an ideal location for a life sciences hub,” read a note included in Company’s application with the New York City Industrial Development Agency. “Our location enables us to easily serve not only New York City residents from all five boroughs, but also the major research institutions, hospitals and donors whose involvement is critical to life sciences endeavors.”

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