A case for developing life science real estate in New York City
Name
986240883-MIT.pdf
Description
Full printable version
Size
5.87 MB
Format
Adobe PDF
Checksum (MD5)
70ffc746ed5ed9152b41e0dc65d4272c
Author(s)
Batra, Shaurya
Advisor(s)
John F Kennedy.
Date Issued
2017
Publisher
Massachusetts Institute of Technology
Abstract
New York City, arguably the world's financial capital and the world's biggest real estate market, and home to some of the finest medical and academic research centers houses a little over a million square feet of life science focused real estate. Despite tremendous academic research potential and financial wherewithal, the life science industry of the city is comparatively much smaller to other New York City industries. In addition, it is much smaller in comparison to life science industry in other parts of the country. This thesis investigates the New York City market as a possible location for developing life science focused real estate assets. As a first step, the research will focus on identifying and analyzing the key demand indicators to establishing the demand for life science focused real estate. Next, the thesis will focus on lab space as a real estate product to understand its main components and value drivers. Upon understanding the market and the product, the research will put forward possible strategies for developing lab buildings in the city. Further, in support of the development strategies the research will look to prove the financial feasibility of developing that life science real estate in the city. This would involve financial analysis and contrasting returns from life science assets against office assets. Lastly, through real options framework the study will go on to demonstrate the benefits of applying flexibility to real assets, while financially valuing this flexibility using the Monte Carlo analysis.
Description
Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, 2017.
Cataloged from PDF version of thesis.
Includes bibliographical references (pages 71-72).
Subjects
Center for Real Estate. Program in Real Estate Development.
MIT Department
Massachusetts Institute of Technology. Center for Real Estate. Program in Real Estate Development.
Massachusetts Institute of Technology. Center for Real Estate
Terms of Use
MIT theses are protected by copyright. They may be viewed, downloaded, or printed from this source but further reproduction or distribution in any format is prohibited without written permission.
Persistent DSpace Link
