Vital Signs 45K-SF Lease for Climbing Gym at Essex Crossing
By Mark Hallum April 10, 2023 12:18 pm
reprints
Essex Crossing has a new tenant in Vital Climbing Gym which just signed on for 45,000 square feet at the new Lower East Side development.
Vital will occupy three floors at 182 Broome Street, an office and retail complex recently completed by Delancey Street Associates — a partnership between Taconic Partners, L+M Development Partners, BFC Partners, the Prusik Group and Goldman Sachs Asset Management’s Urban Investment Group, the New York Post first reported.
The landlords did not disclose the asking rent, or the length of the lease. Asking rents in the property ranged from $80 to more than $130 a square foot in 2021.
“Since the project’s conception, bringing a full-service gym to Essex Crossing and the Lower East Side has been important to both the development team and the community,” Rohan Mehra, principal at the Prusik Group, said in a statement. “The brand’s popularity and success in Williamsburg and upper Manhattan makes this an in-demand addition to the community and Vital’s ethos is consistent with our approach to the development of Essex Crossing as the ultimate live, work, play destination.”
CBRE (CBRE)’s Michael Kadosh, Lon Rubackin and Bevan Cohen represented the tenant in the transaction. It’s unclear who brokered the deal for the landlords.
Vital will provide bouldering, yoga, cycling, weightlifting, fitness classes and climbing instruction in its new spot, its eighth location nationwide, according to CBRE.
The six-acre, nine-building, 1.9-million-square-foot complex houses a marketplace and food hall known as The Market Line as well as the new home of Essex Market, a Lower East Side mainstay for generations which moved across Delancy Street in 2019.
In October 2021, Verizon decided to leave its former offices in the Verizon Building at 140 West Street in Lower Manhattan in exchange for 143,000 square feet in a 20-year lease at 155 Delancey Street, which is also part of Essex Crossing.
Mark Hallum can be reached at mhallum@commercialobserver.com.
