Peloton Interactive has signed a long-term lease for the entire 9,661-square-foot fourth floor at Emmes Asset Management’s 158 West 27th Street.
The company, founded in 2011, makes exercise bikes with sweat-resistant video screens and will relocate its headquarters from 227 West 29th Street. Peloton also operates a studio location in Chelsea at 140 West 23rd Street.
“We partnered with Emmes because of their reputation as a professional landlord who cares about their tenants’ happiness.” said John Foley, the CEO of Peloton, in a prepared statement. “While the market is tight, we saw a lot of nice properties and ended up opting to go with the landlord with the best reputation. Together with Emmes and our architect Andy Bernheimer, we are going to make this space one of the coolest technology office spaces in Manhattan.”
Ethan Silverstein, Mark Mandell, Mattias Li and Bruce Mosler of Cushman & Wakefield represented Emmes Asset Management. Ben Shapiro and Ben Birnbaum of Newmark Grubb Knight Frank represented the tenant.
“Peloton was in search of a loft space in Chelsea that they could move into quickly and would meet their business needs as they continue to rapidly expand,” added Mr. Silverstein, in a statement. “158 West 27th was a perfect fit for both sides. Ownership has agreed to build out the space on the fourth floor and Peloton will have a fantastic full floor space in one of the hottest neighborhoods in Manhattan. Emmes is very excited to welcome an innovative company like Peloton to their tenant roster.”
The landlord will build out the space for Peloton, which will move in within a month, according to The Wall Street Journal, which first reported the deal.