Regeneron Cancels Suffern Renovations;
Puts Former Avon Site on Market for Sale
SUFFERN, NY—Regeneron Pharmaceuticals Inc. of Tarrytown, NY, will not move forward with a nearly $140 million renovation to the former Avon Products facility here in Rockland County. The firm, which is undertaking a $1.8-billion expansion at its facilities in Tarrytown and Greenburgh in Westchester County, intends to sell the Suffern complex that it acquired in December 2023.
A spokesperson for Regeneron confirmed that it has abandoned its plan to establish a new research and development facility at the 235,000/sf Suffern property and intends to sell the building. The company’s plans were first reported in Rockland News.
Alexandra Bowie, executive director, corporate communications for Regeneron Pharmaceuticals, said, “Regeneron has made the strategic decision to sell our Suffern, NY property, which was acquired to supplement the ongoing expansion of our Tarrytown campus. The decision reflects the progress of our Tarrytown project, which is providing additional lab and office space to meet the needs of our growing R&D pipeline, as well as our desire to keep more colleagues together on fewer campuses.”
She added, “We remain committed to New York State and to our continued growth in the region. We are grateful to the local officials and community leaders in Suffern and Rockland County for their support and partnership over the past years. While our evolving needs have led to this decision, we value the partnerships formed and look forward to continuing our contributions to the New York State economy.”
An entity of Regeneron Pharmaceuticals of Tarrytown, NY (Rock County Holdings) acquired the Avon Global Innovation Center at 1 Avon Place in Suffern for $38,875,000 from Avon Capital Corp., according to a deed filed with the Rockland County Clerk on Dec. 20, 2023. Regeneron secured a sales tax exemption of approximately $4.2 million on an estimated $50 million in improvements from the Rockland County Industrial Development Agency (RCIDA)and also entered into a PILOT with local municipalities and school districts. Regeneron stated in documents filed with the RCIDA that it planned to spend nearly $100 million to retrofit the facility, located on 10 acres, for its research and development operations. The project was expected to create 230 full-time jobs upon completion.
In addition to the acquisition, the company’s IDA filing apportioned the costs as follows: $63 million for reconstruction/ renovation work; $23 million in non-manufacturing equipment (furniture, fixtures, etc.) costs; and $6 million in soft costs.
Steve Porath, executive director of the RCIDA), said Regeneron contacted the agency several weeks ago regarding its decision and that the IDA would be looking at the PILOT to determine whether any claw back of funds might be in order. The project to repurpose the former Avon facility was in its very early stages and he did not believe the company had taken advantage of any of the incentives granted by the IDA.
Rockland County Executive Ed Day released a statement on Regeneron’s decision, stating: “While we’re disappointed that Regeneron chose not to invest in Suffern, this moment will not define Rockland. Over the past decade, we’ve seen record-breaking economic growth and job creation. Since 2024 alone, my administration, working with the Rockland County IDA, has closed on 13 major projects, representing $2.4 billion in new investment, 560 permanent full-time jobs and more than 1,000 ongoing construction jobs, including union work. Rockland remains one of New York’s most skilled and innovation-ready communities, and we will continue to aggressively pursue partners who share our vision for bold growth and opportunity.”
Editor’s Note: Look for further coverage of this story in the November edition of CONSTRUCTION NEWS, www.cicbca.org
By John Jordan
Published: November 5, 2025.