Leases  ·  Retail

Chelsea Piers Plans 52K-SF Gym in Downtown Brooklyn


The company behind the sprawling Chelsea Piers complex on Manhattan’s West Side has inked a deal to operate a gym in a new Downtown Brooklyn rental building.

The 22-year-old firm signed a long-term lease for 52,000 square feet at the base of TF Cornerstone’s 33 Bond Street, a new luxury rental project under construction at the corner of Atlantic Avenue. Chelsea Piers will occupy 21,000 square feet on the ground floor and 31,000 square feet on the lower level, and its high-ceilinged space will have an entrance on Schermerhorn Street, across from the Ace Hotel, according to a release from the developer. The asking rent and the length of the lease weren’t immediately available.

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However, the average asking rent for ground-floor retail space in the neighborhood hovers around $100 a square foot, according to The Wall Street Journal, which was the first to report news of the deal.

Chelsea Piers was represented in-house for the long-term lease transaction. TFC was represented in-house by Steve N. Gonzalez, along with Winick Realty Group’s Steven E. Baker, Aaron S. Fishbein and Daniyel Cohen. The building still has 8,745 square feet of retail available, and the developer is “actively speaking with a variety of similarly-upmarket retailers, including artisanal food services, pantry operations, home goods and high-quality restaurants” for the space, according to the release from TFC.

A spokeswoman for Winick didn’t immediately return a request for comment.

The 25-story, 714-unit rental building is scheduled to open to residents later this summer, according to spokespeople for the developer. Current listings up for grabs at the development range from studios asking $2,530 a month to two-bedroom, two-baths for $5,420, according to StreetEasy. Residents will be able to access the gym from the lobby of the building and will be able to get discounted memberships.

“Downtown Brooklyn has transformed into a multi-faceted, diverse marketplace where top retailers such as Apple, Whole Foods and now Chelsea Piers are seeing a unique opportunity to reach their target demographics where they live, work and shop,” Jake Elghanayan, a senior vice president at TFC, said in prepared remarks.