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Bill Ackman Buys 125 West End Avenue for $260M Brain Research Institute
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Commercial Observer
Billionaire hedge funder Bill Ackman has kicked off his $260 million play to establish a brain research institute on Manhattan’s Upper West Side.
Pershing Square Foundation, the philanthropic arm of Ackman’s fund, dropped $188 million to acquire 125 West End Avenue, according to city documents filed Tuesday.
Pershing Square Foundation has teamed up with Mount Sinai Hospital System to develop the research institute, although the development timeline is unclear.
The life sciences and office spaces at 125 West End Avenue, also called West End Labs, appear largely vacant, according to the building’s website.
West End Campus also includes 320 West 66th Street and a vacant parcel.