Episode Details

Alexandria Real Estate faces a potential $183 million loss on its Kips Bay life sciences project, locked in a two-year legal battle with New York City over construction delays and payments tied to a post-Sandy sea wall. After their initial lawsuit was dismissed, the city has now issued a default notice, alleging Alexandria failed to submit required financial docs and missed deadlines on the third building. Alexandria counters that the city is trying to force them out by inflating taxes and devaluing their lease — while appealing the default, they’re also navigating a struggling NYC life sciences market with soaring vacancies and oversupply.

Listen in comfort:
Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn.

Advertise on DNN:
advertise@thednn.ai

This is an automated, high-level news summary based on public reporting.
Report issues to feedback@thednn.ai.

View sources & latest updates:
https://sources.thednn.ai/dcc0b14fa5a971fb