ARE · News · 20260804N

Litigation and Legal Risk

ALEXANDRIA REAL ESTATE EQUITIES, INC. · 2026-08-04 · Importance 71 · Surprise 60

Alexandria faces a dispute with New York City over the third building at its Alexandria Center for Life Science campus in Kips Bay. The litigation could expose the company to a loss of approximately $183 million in preconstruction costs. New York City alleges that Alexandria missed a construction deadline and seeks to terminate the ground lease, while Alexandria alleges that the city delayed the project.

Key facts

• Bisnow reported Alexandria warned a $183M loss on the legal fight with NYC. source
• Judges have largely sided with New York City in early rulings and Alexandria's attempts to pause the default notice have been denied. source