Orangetheory Fitness Inks Deal for New Greenwich Village Studio
Orangetheory Fitness, the popular fitness chain focused on high-intensity interval training, leased 6,600 square feet for a new outpost near New York University in Greenwich Village, according to brokers involved in the deal.
The boutique fitness franchise inked a 10-year deal for 3,300 square feet on the ground floor and 3,300 square feet on the basement level of 391 Avenue of the Americas. Asking rent for the space, which was formerly occupied by Russian restaurant Onegin, was $40,000 a month.
Orangetheory will join several other retail tenants on the block between Greenwich Avenue and Waverly Place, including Starbucks, Citibank, Chipotle and Waverly Diner. The fitness chain expects to open this fall.
Lee Block and Michael Shkreli of Winick Realty Group represented the landlord, Walter & Samuels, and Albert Manopla of KSR represented the tenant.
“The pandemic has been especially challenging for the fitness category, but as we move closer towards full reopening of New York City, we are very encouraged to see a renewed demand in fitness,” Shkreli said in prepared remarks.