Market Highlights

• Alexandria Real Estate has launched a $50.0 million lawsuit against New York City, claiming that the city has obstructed its efforts to build a third tower to finalize its life sciences campus.
• The City of New York has approved a rezoning initiative in the Bronx designed to enhance ambulatory care and promote life sciences research along a corridor of commuter line stations.
• New York's venture capital funding has surged this year, marking its second-best performance ever, just behind the record set in 2021. Notably, biopharmaceutical company Metsera raised $350.0 million in Series A funding.

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