Biotech Firm Founder Buys Most of Tribeca Building for $32M

George Yancopoulos, co-founder of biotech company Regeneron, has purchased almost all of the condominium units in a mixed-use Tribeca building, according to city records made public this week.

Yancopoulos, through the entity GLT Hudson Holdings, paid $32.2 million for five commercial units and one residential unit at 50 Hudson Street. The six units were purchased from Eric Schlagman, who used the entity 50 Hudson, records show.

Schlagman himself signed for the seller, while Barbara Diehl signed for the buyer, according to records.

The four-story building near the corner of Hudson and Thomas streets has a total of seven condo units, according to PincusCo, which first reported the news. The six units Yancopoulos purchased cover 15,003 square feet.

It’s unclear whether the biotech founder plans to purchase the seventh unit, but “the entire debt has been retired for all seven units,” PincusCo reported. PincusCO reported that Yancopulos is expected to use the property for offices.

It’s also unclear who brokered the deal. A spokesperson for Regeneron did not immediately respond to a request for comment, while Schlagman could not be reached for comment.

Current tenants of the Tribeca building include jewelry store Frank Darling, physical fitness program the Lotus Method and architecture firm MBH Architects.

Isabelle Durso can be reached at idurso@commercialobserver.com.