Two Sigma inks lease at Cornell Tech

Investment firm to open 9K sf "Collision Lab" on Roosevelt Island

New York /
Jan.January 23, 2017 11:32 AM

The Bridge at Cornell Tech — designed to be a hub where tech businesses and academics meet — signed its first private tenant.

Soho-based Two Sigma Investments LP plans to take 9,200 square feet at the top of the building, part of Cornell’s new 12-acre campus on Roosevelt Island.

The financial firm, which uses data to make predictions and automate trades, will use the new space as a “Collision Lab,” where employees will interact with Cornell’s faculty members and students, chief technology officer Alfred Spector told the Wall Street Journal. “We think a connection between a firm like ourselves and really bright faculty and students at Cornell Tech allows us to recruit that talent and be near ideas,” he said.

Newmark Grubb Knight Frank’s TRData LogoTINY Neil Goldmacher and Josh Friedman represented Two Sigma in the lease deal. The company’s venture capital affiliate, Two Sigma Ventures, will also take up space at the Bridge, along with some of the 47 startups it has invested in.

The Bridge, a six-story structure being developed by Forest City Ratner Companies, is one of three buildings in the $2 billion campus. Cornell Tech will occupy 39 percent of the 230,000-square-foot building, which is expected to open in September.

The building has a rooftop common area and co-working space on one floor.

The developers envision 15 to 18 tenants taking up to 10,000 square feet each, and the lease terms are between five and 10 years — shorter than typical office leases, according to Mary Ann Tighe, chief executive of CBRE’s New York Tri-State Region, who is part of the Bridge’s leasing team.

Cornell Tech’s campus ultimately will house 10 buildings — a mix of academic buildings, residences, a hotel and mixed-use buildings. [WSJ] E.B. Solomont


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Attorney General Letitia James and Mayor Bill de Blasio (Getty)
Tish James, Council ask mayor to delay lien sale that he just OK’d
Tish James, Council ask mayor to delay lien sale that he just OK’d
Construction labor management platform Bridgit raises $24M
Construction labor management platform Bridgit raises $24M
Construction labor management platform Bridgit raises $24M
Paul Manafort sells deteriorating Bridgehampton estate above $10M ask
Paul Manafort sells deteriorating Bridgehampton estate above $10M ask
Paul Manafort sells deteriorating Bridgehampton estate above $10M ask
The boom is largely fueled by investors snagging a large number of single properties in a multitude of deals, rather than previous booms featuring plentiful portfolio sales, or sales of entire companies. (iStock)
CRE has biggest-ever sales quarter
CRE has biggest-ever sales quarter
Hochul weighing expansion of Community Reinvestment Act
Hochul weighing expansion of Community Reinvestment Act
Hochul weighing expansion of Community Reinvestment Act
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...