Barry’s Bootcamp has begun construction on its third New York City group fitness center after signing a 10-year, 8,000-square-foot lease at 419 Lafayette Street, Commercial Observer has learned.
The space will become the company’s largest New York City location. Smack in the center of NoHo, it gives the gym easy access to New York University students and a range of development that has foot traffic that has helped revolutionize the area in recent years.
“The NoHo location was born on the idea of the neighborhood’s growth over the last five or six years and we are really excited to be there,” said Neal Ohm of Neal Cabot Ohm, who represented the tenant in this deal and the previous leases that birthed its other New York outposts at 135 West 20th Street in Chelsea and at 1 York Street in Tribeca. “There’s been a proliferation of residential, mixed use and hotel development in Noho.”
Mr. Ohm said the search for the company’s third location took nearly two years, noting that price, size and zoning requirements were all among the considerations that came into play. In the end, an area densely packed with young professionals and students sealed the deal for the tenant.
“Retailers here are learning not to underestimate the NYU students,” he said. “I think the kids are well-funded or have parents who are well-funded and want them to have a true New York experience.”
Catherine O’Toole and Stephen Tarter of CBC Alliance represented the landlord, an undisclosed private investor. CBC Alliance declined to comment but sources said asking rents were $100 per foot on the 6,200-square-foot ground floor space, while an 1,800-square-foot basement will serve storage and administrative functions.
Akin to competitors Flywheel Sports and SoulCycle, Barry’s Bootcamp offers as many as 12 classes, 365 days a year, combining intense cardio with strength training in every class.
The fitness center plans to open by the end of the year.