The Labs on 121 Becomes the First Development to Install View Smart Windows in Harlem’s Growing Life Sciences Cluster

Rhea-AI Summary

Nightingale Properties and Real Estate Equities Corporation have announced a new 10-story office development in Harlem, featuring Smart Windows from View, Inc. (Nasdaq: VIEW). The Labs on 121, covering 160,000 square feet, represents a key partnership aimed at enhancing Harlem's growing life sciences sector. The Smart Windows utilize AI technology to adjust to sunlight, promoting natural light while reducing glare. This project, designed by DXA Studio, is expected to improve employee health and productivity, positioning Harlem as a major hub for life sciences.

Positive

• New partnership enhances View's presence in the growing life sciences sector in Harlem.
• Smart Windows technology improves employee health and productivity metrics significantly.
• Project aligns with New York City's strategic focus on life sciences and smart building technologies.

Negative

• None.

NEW YORK, Jan. 11, 2023 (GLOBE NEWSWIRE) -- Nightingale Properties and Real Estate Equities Corporation announced their new 10-story, 160,000-square-foot office development in uptown Manhattan’s Harlem market, will feature Smart Windows from View, Inc. (Nasdaq: VIEW) (“View”), the leader in smart building platforms and smart glass. The Labs on 121, located at 2226 Third Avenue, marks the second partnership between View and Nightingale, following the 111 Wall Street office redevelopment with InterVest Capital Partners (formerly Wafra Capital Partners). It also represents View’s third project in Manhattan’s Third Avenue office corridor, following the recently completed 825 Third Avenue with the Durst Organization, and 730 Third Avenue with TIAA and Nuveen Real Estate, showcasing View’s accelerating growth in New York City.

New York City has stated its commitment to become a market frontrunner for life sciences through capital support and government incentives. With new projects emerging and numerous science and research organizations securing space in the area, Harlem has rapidly grown into the City’s top life science hub and is poised to become a worldwide leader for the sector. The Labs on 121 represents the latest development in Harlem’s life sciences cluster and the first building in the area to install View technology.

View Smart Windows use artificial intelligence to automatically adjust in response to the sun, increasing access to natural light and views of the outdoors, while minimizing heat and glare. The windows help to keep lab spaces clean by eliminating the need for blinds, which act as a reservoir for dust and germs that can contaminate sensitive specimens, and by providing continuous access to blue wavelength sunlight that can disinfect surfaces—both critically important features in life science offices and lab spaces in a post-pandemic environment.

Smart glass also offers significant health advantages to employees by reducing the incidence of eyestrain and headaches by over 50 percent. In a recent study, employees working next to View Smart Windows improved their sleep by 37 minutes per night and cognitive function by 42 percent.

“Our goal is to accelerate the growth of Harlem’s budding life sciences industry by helping innovative companies attract, retain and develop top talent from around the world,” said Elie Schwartz, CEO at Nightingale Properties. “We chose View Smart Windows precisely because of the unique, positive impact they have on employee health and productivity.”

“View’s mission is to accelerate innovation and improve human life by transforming buildings into healthy, smart and sustainable experiences for occupants,” added Brian Klansky, Regional Vice President at View. “We are thrilled to once again partner with Nightingale Properties as they continue to raise the bar for tenant experience and the real estate industry as a whole.”

The 145-foot-tall project is designed by New York-based DXA Studio, and the ongoing construction is being executed by the Rinaldi Group.

About View
View is the leader in smart building platforms and smart windows that transform buildings to improve human health and experience, reduce energy consumption and carbon emissions, and generate additional revenue for building owners. View Smart Windows use artificial intelligence to automatically adjust in response to the sun, eliminating the need for blinds and increasing access to natural light. Every View installation includes a cloud-connected smart building platform that can easily be extended to improve indoor cellular coverage, enhance building security and reimagine the occupant experience. View is installed and designed into 75 million square feet of buildings including offices, hospitals, airports, educational facilities, hotels and multi-family residences. For more information, please visit: www.view.com.

About Nightingale Properties
Led by CEO Elie Schwartz, Nightingale Properties pursues real estate investments across the capital stack, and spanning all risk-return profiles, geographies, asset classes, hold periods, deal sizes, and development potential. Nightingale is regarded in the industry as one of the most agile, creative, and operationally savvy institutional-grade owner-operators. By leveraging its vertically integrated and white-glove Property Management, Asset Management, Construction Management, and Development divisions, Nightingale creates value in its properties and for its joint venture and institutional equity partners. For more information visit: www.thenggroup.com.

About Real Estate Equities Corporation
Real Estate Equities Corporation (“REEC”) is a family-owned development firm established in 1978 by Michael Miller. Today, the company is headed by Brandon Miller and Mark Seigel. Since its inception, the company has successfully purchased or developed over 20 million square feet of real estate properties throughout the United States representing several billion dollars in capitalized value. REEC has built an impressive track record of New York City developments across commercial, condominium, multi-family, office, single-family, and asset management. For more information visit: www.reecny.com.

Contacts:

For Investors: 
IR@View.com
Samuel Meehan
408-493-1358

For Media: 
Tom Nolan, Great Ink
tom@greatink.com
908-392-0333

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cbf90fde-49e3-450d-83b9-4508200fd0f0

FAQ

What is the significance of the new office development in Harlem for View (VIEW)?

The new 10-story office development enhances View's presence in Harlem's growing life sciences sector, offering Smart Windows that improve employee health and productivity.

How do View's Smart Windows contribute to workplace health?

View's Smart Windows use AI to optimize natural light exposure while reducing glare, decreasing eyestrain and headaches, and potentially improving sleep and cognitive function.

What is the size and purpose of The Labs on 121 office project?

The Labs on 121 is a 160,000-square-foot office development aimed at supporting the life sciences industry in Harlem.

When was the partnership between Nightingale Properties and View announced?

The partnership was announced on January 11, 2023, highlighting the construction of a new office development in Harlem.