Pickle1 Opening 5K-SF Pickleball Facility at 100 Pearl Street

The Financial District is getting itself into a bit of a pickle.

Pickleball club Pickle1 signed a 10-year, 5,060-square-foot lease to operate courts on the ground floor of Commerz Real’s 100 Pearl Street, according to property manager GFP Real Estate.

Expected to open summer 2025, Pickle1 will be the only pickleball court in the Financial District, GFP said. (GFP sold 100 Pearl Street to Commerz for $850 million in 2021, but stayed on as its managing agent.) 

The space will feature three professional-grade indoor courts with 24-foot high ceilings, alongside the squash courts that took space in the building in 2022.

“We are very excited to be opening Pickle1 at 100 Pearl Street and to create a club powered by passion and community,” Michael McClain, founder and CEO of Pickle1, said in a statement. “Our programming will include hourly court reservations, open play, leagues, tournaments, clinics and kids’ classes catering to pickleball players of all levels.”

Asking rents were in the $150 range, but specifics were not provided. Average asking retail rents for the area were $236 per square foot in the fourth quarter of 2024, according to CBRE data. 

“This is more than just an amenity — it’s a way to enhance the tenant experience and create a greater bond within our community,” Maxi-Franziska Olmo Gonzalez, senior asset manager of Commerz in the Americas, said in the statement.

Allen Gurevich of GFP and Andrew Taub of Newmark (NMRK) represented Commerz Real in the lease deal. Steven Evans and Emre Bozkurt of Platinum Properties brokered it for Pickle1. 

Newmark and Platinum did not respond to requests for comment. 

Office tenants of 100 Pearl Street, a 29-story building formerly known as 7 Hanover Square, include the Securities and Exchange Commission‘s regional office, the New York Legal Assistance Group and NYC Health and Hospitals. 

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.