"Economics, location, building dynamics and high-quality owner/management drove this deal," says David Dusek, senior managing director at Studley, in a release. "After an extensive search, we ascertained that it made the most sense for Genzyme to remain in place because of the building's infrastructure, which meets the company's requirements for HVAC, power, laboratory space and temperature control systems."

Dusek tells GlobeSt.com that other options that were scouted included sites in lower Westchester County--where Long Island-based biotech firm OSI will relocate--northern New Jersey, Brooklyn and locations in Manhattan, including the Hudson Square neighborhood, the forthcoming East River Science Park and other properties on the West Side.

Genzyme has been located at 521 W. 57th since 2004, when it acquired building tenant Impath Technology in a bankruptcy sale. Dusek says in a release that it's the company's long-term strategic plan to grow the business at its New York City hub.