New York Times: Manhattan: Agreement on West Side Medical Tower
Aug 01, 2007
By Charles V. Bagli
Two New York developers have signed an agreement to build a 1.2 million-square-foot office tower on the Far West Side that would serve as a hub for manufacturers of devices, diagnostics, computer systems and other equipment for the medical industry. The developers - Gary Barnett, the chief executive of the Extell Development Corporation, and Israel Green - said they planned to begin construction in early 2009. The tower would rise at 11th Avenue and 34th Street, on a site that is now home to the Copacabana nightclub. Mr. Green has spent five years developing the concept and pursuing a Manhattan location. He said it was an opportunity for New York City to become the principal center for the $260 billion global market for medical devices and diagnostics. The project may have to wait until the city completes part of an extension of the No. 7 subway line, which passes beneath the site.