Leases  ·  Retail

Planet Fitness Running to Essex Crossing in 2018


Planet Fitness has worked out a lease for one of the buildings that’s being developed as part of the Essex Crossing project on the Lower East Side.

The gym that bills itself as an everyman’s fitness center has signed a deal for 22,000 square feet on the second floor of 145 Clinton Street, according to a press release by the project’s developers. Planet Fitness is expected to open in 2018, according to Delancey Street Associates—the joint venture between L+M Development Partners, Taconic Investment Partners and BFC Partners.

SEE ALSO: Distress Looms Over U.S. Offices Heading Into Summer: Report

Planet Fitness signed a 10-year lease at 145 Clinton Street between Broome and Grand Streets, per a Delancey Street Associates spokesman. The 223,000-square-foot building is part of Site 5 (there are nine sites in total), which will have 211 apartments—half of those being set as affordable housing. Planet Fitness’ lease accounts for one-third of the 66,000 square feet of retail at Site 5.

Signing Planet Fitness follows two other major retail tenants to the 1.8-million-square-foot project. Regal Cinemas in December announced it was coming to Site 2 of the project between Essex and Delancey Streets. Bowling alley Splitsville Luxury Lanes in signed a deal for 17,000 square feet at Site 2 and is slated to set up its pins in 2017.

The next big tenant will likely be an extension facility of NYU Langone, with whom the developers are in active negotiations. Langone would open a 40,000-square-foot medical center at Site 6—which has been allocated for senior housing—should the deal go through.