Fitness outposts SoulCycle and Blink Fitness have both signed leases at JTRE Holdings’ new Midtown East property at 240 East 54th Street.
The companies both signed 20-year leases for a collective 25,000 square feet, according to The Real Deal. SoulCycle is taking 4,500 square feet for its popular spin classes on the ground floor of the property. Blink Fitness will occupy 20,500 square feet on part of the ground floor, as well as the entire second and third floors.
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.
SoulCycle will open its first location in the Financial District this fall.
The 5,000-square-foot space at 2 Gold Street marks the 10th indoor cycling location for the company.
Town Sports International-owned New York Sports Clubs is in the process of renovating its existing city locations by removing bulky weight-lifting equipment and adding CrossFit-like training areas – a move that reflects its struggle to compete with the insurgence of a niche fitness industry.
Crain’s reported that so far 22 of the chain’s 39 Manhattan Read More
The stylish spinning studio SoulCycle broke into New York real estate through an inauspicious channel: Craigslist.
In 2006, co-founder Elizabeth Cutler was scouring available spaces on the go-to online destination for scalped tickets, used furniture and anonymous hookups. “We couldn’t get a broker to call us back,” Ms. Cutler said. “I told [co-founder]Julie [Rice], one day, people will actually call us.”
To enter the Pacific Street office of the commercial brokerage firm TerraCRG, visitors must buzz reception and walk a few yards through a parking garage before hanging a right.
There’s Sena, an African hair-braiding salon, next door, and beyond that is a row of brownstones that, with minimal touchups, could be airlifted to Park Slope and go unnoticed.
But TerraCRG also sits practically in the shadow of the Barclays Center, and the eye travels to that rusty bird’s nest as you wait for the welcoming buzz.
This location at the traffic, geographic, demographic, architectural and developmental crossroads of Brooklyn suits TerraCRG, a firm launched by Ofer Cohen in 2008 that keeps a strict focus on the ascendant borough’s commercial real estate market.
Vice President of Retail Services Geoff Bailey joined TerraCRG in June of 2010, with previous experience in Brooklyn from five years in sales at Massey Knakal, where he had worked with Mr. Cohen. Mr. Bailey specialized in southeast Brooklyn back then, but thought there was untapped real estate potential throughout the borough.
Revolve Fitness has opened its first New York City fitness facility at 52 East 13th Street in Union Square after inking a 10-year lease for the 2,500-square-foot space earlier this year.
The fitness concept, which “revolves” around classes that last up to one hour and geared towards both the beginner and cycling enthusiast, has one other location in Washington D.C., and the second location marks its first foray into New York City.
SoulCycle will be opening their first Brooklyn location at 184 Kent Avenue.
The luxury indoor cycling boutique, a subsidiary of Equinox, has inked a fifteen year deal for 4,300 square feet on the ground floor of a new residential building in Williamsburg.
“I targeted SoulCycle as an ideal tenant for the space and made the Read More