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Longfellow Sells Hatch Life Sciences Building in LIC for $87M
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Commercial Observer
Life sciences developer Longfellow Real Estate Partners has parted with its first-ever New York City project at a discount.
Longfellow’s Hatch Life Sciences Building, located at 43-10 23 Street in Long Island City, Queens, has sold for $86.9 million, according to city records filed Friday.
Pearl Realty Management’s Jack Guttman signed for the buyer, under the entity 4310 23 St.A representative of Pearl Realty Management did not respond to requests for comment.
Longfellow purchased the existing building at 43-10 23 Street in 2021 alongside its partner, Steven Orbuch’s Sculptor Real Estate, for $92.5 million.
Longfellow, led by CEO and co-founder Adam Sichol, planned to invest another $120 million into turning the former parachute manufacturing plant into a mix of life sciences labs and offices.