The Real Deal New York

Denied at 140 Franklin, Crunch looking again in Tribeca

Gym’s management in talks with 66 and 80 Leonard Street

June 13, 2014 03:40PM
By Hiten Samtani

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66 Leonard Street

66 Leonard Street

After striking out at 140 Franklin Street, Crunch Gym is once again looking to muscle up in Tribeca. The New York-based gym, a joint venture between Angelo Gordon and New Evolution Ventures, is in active discussions with both 80 Leonard Street and 66 Leonard Street to take more than 15,000 square feet, according to a source familiar with the talks.

Ashkenazy Acquisition bought the nearly 25,000-square-foot retail condominium at 66 Leonard Street in 2012 for $6.5 million, according to CoStar Group data. It asks an annual rent of about $800,000 for the space. Representatives for Ashkenazy declined to comment on Crunch.

The space at 80 Leonard was occupied by another gym, Eastern Athletic, but the location no longer appears on Eastern Athletic’s website. CoStar lists David Manela as the landlord of the 26,815-square-foot, six-story building. Manela couldn’t be reached for comment.

In March, Crunch, which has 16 locations in the city, agreed not to lease space at 140 Franklin after the residential condo’s board of managers brought a $5 million suit against John Calicchio’s Lily Realty, the owner of the building’s retail condo, as TRD reported. The suit stated that Crunch and Lily Realty were violating the building’s condo declaration and by-laws.

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