Bill Ackman, Pershing Square, commit $260M for Mount Sinai brain research hub

Bill Ackman, through Pershing Square Philanthropies, has committed $260 million to establish the Ackman Oxman Institute in partnership with Mount Sinai Hospital in New York City. The investment includes the $190 million purchase of the 400,000-square-foot West End Labs property at 125 West End Avenue and a $70 million contract to acquire the adjoining building at 320 West 66th Street. Combined with additional development rights, the campus could expand to nearly 700,000 square feet. Inspired by his daughter’s recovery from a brain hemorrhage and his family’s experience with Alzheimer’s, the institute will advance neuroscience research, rehabilitation, genetics, nutrition, and longevity, with operations expected to begin by year-end.