Gymnastics Studio NYC Elite Renews 21K SF at 40 Worth Street in Tribeca

Gymnastics studio NYC Elite has stuck the landing in Tribeca.

NYC Elite, which provides gymnastics programs and coaching instruction for people of all ages, signed a 20-year renewal for its 20,908-square-foot studio at 40 Worth Street, a Tribeca building owned by Jeffrey Gural’s GFP Real Estate.

The gymnastics company moved into the 16-story building between Church Street and West Broadway — also known as the Merchants Square Building — in January 2015, as Commercial Observer previously reported. NYC Elite’s space at the property comprises 10,987 square feet of ground-level space, 2,761 square feet of mezzanine space, and 7,160 square feet of lower-level space, according to GFP.

“We are beyond excited to renew our lease and not only continue to work alongside the Gural family, but also to have the opportunity to continue bringing joy and confidence to the kids in our community through gymnastics,” Tina Ferriola, founder and president of NYC Elite, said in a statement.

The asking rent was not provided, but when NYC Elite signed its lease at 40 Worth in 2015, asking rents for the space were $95 per square foot on the ground floor and $45 per square foot on the sub-lower level, CO reported.

GFP’s Roy Lapidus brokered the deal for both the tenant and the landlord.

NYC Elite’s Tribeca spot is its third location in Manhattan, joining 421 East 91st Street on the Upper East Side and 200 Riverside Boulevard on the Upper West Side, according to its website.

“We are excited to see NYC Elite extend its long-term commitment at 40 Worth. They are an exceptional tenant dedicated to empowering young athletes and a true cornerstone of the neighborhood,” Lapidus said in a statement.

Other tenants of the nearly 800,000-square-foot Tribeca building include Weill Cornell Medicine Primary Care, as well as nonprofits Acumen Fund, the Legal Aid Society and the Innocence Project.

40 Worth reached 100 percent leased in December after Jani Real Estate, pediatric therapy clinic Mighty Minds and Muscles, visual artist Emily Christine Velez Nelms, and construction services company P&T Construction signed four deals totaling 15,400 square feet at the building.

Isabelle Durso can be reached at idurso@commercialobserver.com.