Bill Gates-backed bio startup expanding in NYC

C16 Biosciences takes 20K sf at Taconic and Silverstein’s Far West Side life sciences building

New York /
Apr.April 23, 2021 10:30 AM
Bill Gates and 619 West 54th Street (Getty, Taconic Partners)

Bill Gates and 619 West 54th Street (Getty, Taconic Partners)

A Bill Gates-backed biotech startup that’s developing a sustainable alternative to palm oil is expanding in New York.

C16 Biosciences is moving out of the NYU Langone biotech co-working space in Soho into 20,000 square feet at the Hudson Research Center on the Far West Side.

Company co-founder Shara Ticku said she was drawn to the “location, flexible lab space and amenities” at the research center, which is owned by Taconic Partners and Silverstein Properties.

The startup will move into 20,000 square feet of pre-built lab space and office space on the seventh floor of the building at 619 West 54th Street at the end of the summer. The company was founded in 2017 to find environmentally friendly alternatives to palm oil, a $61 billion industry that leaves a huge environmental footprint.

Gates’ Breakthrough Energy venture led a $20 million Series A funding round in c16 Bio last year.

Demand for biotech and life-sciences space is booming, leading to a land rush by investors who are looking to add more than 36 million square feet of new space in the country’s top 14 markets.

Taconic acquired the 322,000-square-foot Far West Side building in 2012 for $110 million, and Silverstein purchased a stake in the property in 2017. The partners refinanced the property last year a $205 million loan from Square Mile Capital.





    Related Articles

    arrow_forward_ios
    Largest Real Estate Loans Topped $2.5B in December, including: 601 Lexington Avenue, 441 Ninth Avenue & 360 Park Avenue South (BXP, Hudson Commons, 360 Park Avenue South, iStock)
    Ten biggest Manhattan real estate loans in December top $2.5B
    Ten biggest Manhattan real estate loans in December top $2.5B
    Panagram CEO John Kim, 65 East 55th Street and Quilvest Capital Partners' Frances Madrid (Getty, Google Maps, Quilvest)
    Park Avenue Tower snags two more financial tenants
    Park Avenue Tower snags two more financial tenants
    Michael Gronager, chief executive officer, Chainalysis, in front of 114 Fifth Avenue (Chainalysis, LoopNet/Illustration by Steven Dilakian for The Real Deal)
    Crypto data firm doubles space at Flatiron office
    Crypto data firm doubles space at Flatiron office
    (iStock)
    Unprecedented landlord incentives powering U.S. office market recovery
    Unprecedented landlord incentives powering U.S. office market recovery
    1333 South Congress Avenue in Austin, Texas and Tecovas CEO Paul Hedrick (Google Maps, Twitter)
    These boots are made for lending
    These boots are made for lending
    Noel Quinn, chief executive, HSBC Group; renderings of 66 Hudson Blvd (HSBC, Tishman Speyer)
    HSBC eyeing move to Tishman Speyer’s Spiral
    HSBC eyeing move to Tishman Speyer’s Spiral
    IBM, Franklin Templeton eyeing SL Green’s One Madison
    IBM, Franklin Templeton eyeing SL Green’s One Madison
    IBM, Franklin Templeton eyeing SL Green’s One Madison
    Silverstein raises another $2B for real estate lending fund
    Silverstein raises another $2B for real estate lending fund
    Silverstein raises another $2B for real estate lending fund
    arrow_forward_ios

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

    Loading...