Billionaire-Backed Brain Research Institute Planned for Upper West Side

The Pershing Square Foundation, the philanthropic arm of hedge fund manager Bill Ackman, has secured two Upper West Side properties for a total of $260 million. The acquisition, which includes 125 West End Avenue and a contract for the neighboring 320 West 66th Street, is intended to serve as the site for the newly announced Ackman Oxman Institute.

According to reports, the foundation purchased 125 West End Avenue for $190 million, with an additional $70 million contract in place for the adjacent address. The combined footprint of the two sites could reach approximately 700,000 square feet. The facility is being developed in collaboration with the Mount Sinai Hospital System, though a specific timeline for the project's completion or opening has not yet been disclosed.

The site at 125 West End Avenue currently houses West End Labs. The building has a long history of industrial and commercial use, having previously served as a printing facility for The New York Times and a Chrysler service center.

Public reports indicate that the motivation for the institute stems from personal family health challenges. Ackman has reportedly cited his daughter’s recovery from a brain hemorrhage earlier this year and the loss of his wife Neri Oxman’s mother to Alzheimer’s disease as primary drivers for the project.

While the foundation has moved forward with the real estate acquisition, the development remains in its early stages. Further details regarding the architectural plans or the operational scope of the research center are expected to emerge as the partnership with Mount Sinai progresses.