Plans have been revealed for a 200,000 square foot research lab at 309 East 94th Street, a site which Flatiron Equities, Taconic Partners and Nuveen Real Estate acquired for $70 million in 2021.
The name of the new building will be Iron Horse Labs, named after Yankees legend Lou Gehrig, whose birth site was 309 East 94th Street.
Gehrig earned the nickname “Iron Horse” for his streak of consecutive games played. He passed away from ALS (Amyotrophic Lateral Sclerosis) in 1941 and the disease is still commonly referred to as Lou Gehrig’s disease. “Iron Horse Labs’ inherent function as a cutting-edge research facility is itself a tribute to Gehrig and his continuing status as the face of a disease still in need of a cure,” according to a press release.
Elevate Research Properties – the life science subsidiary of Taconic Partners – says the building will come with a “robust lab infrastructure, unique double height specialty research space, multiple loading bays, several outdoor terraces, and amenities. The project will also feature state-of-the-art energy efficient systems and a raised ground floor slab as part of Elevate’s overall portfolio commitment to ESG initiatives including sustainability and climate resiliency strategies.”
An exterior plaque dedicated to Gehrig will also be “restored, reinstalled, and featured in the new building lobby,” and the building’s façade “will feature triangular passive sun shading elements which symbolize and resemble baseball stadium pennants.”
The project’s developers are aiming to attract tenants including research organizations, academic medical institutions, and life science and healthcare investment firms.
Demolition and foundation work at the site has commenced and Elevate Research Properties expects to complete Iron Horse Labs in mid-to-late 2025.