Equinox Signs 30K-SF Deal for Second Hudson Square Gym at 75 Varick
By Mark Hallum November 7, 2024 10:19 am
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Equinox will be doing some heavy lifting after signing a new lease for a second Hudson Square gym at 75 Varick Street, Commercial Observer has learned.
The high-end chain signed a 30,248-square-foot, 20-year deal in the property owned by Hudson Square Properties in what will be the brand’s 19th New York City location, according to the landlord, which did not disclose the asking rent in the deal.
Average retail asking rent for the nearby corridor of Bleecker Street between Seventh Avenue South and Hudson Street was $317 a square foot in the first half of 2024, according to a report from the Real Estate Board of New York.
Newmark (NMRK) represented both sides of the deal with Darrell Rubens handling the deal for the tenant while Peter Shimkin, David Falk and Jonathan Franzel negotiated on behalf of the landlord, a joint venture which includes Hines, Norges Bank Investment and Trinity Church NYC.
“We strive to create a diverse retail tenancy to make Hudson Square an attractive lifestyle environment for office workers, residents, and visitors alike,” Jason Alderman, senior managing director at Hines, said in a statement.
Other tenants in the 17-story building from 1929 include the Jackie Robinson Museum, productivity app maker Notion, which signed a 49,713-square-foot lease in November 2023, and communications agency Canvas Worldwide, which signed a 18,149-square-foot lease in September 2023.
Mark Hallum can be reached at mhallum@commercialobserver.com.
