Alexandria stands to lose nearly $200M on Kips Bay project
As Alexandria Real Estate Equities continues to wage war with New York City over its life sciences development in Kips Bay, the costs of that fight are being exposed. Alexandria is in danger of swallowing $183 million in preconstruction costs for the third building of the Alexandria Center for Life Science, Bisnow reported. The figure is updated as of the end of the second quarter, according to Securities and Exchange Commission filings. Alexandria and the city have been at war over the specialty center for two years. In August 2024, the real estate investment trust filed a federal lawsuit accusing […]
This article originally appeared on The Real Deal. Click here to read the full story.
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