NGKF helps Blink Fitness bulk up in Manhattan expansion

NGKF helps Blink Fitness bulk up in Manhattan expansion

TRD New York /
Dec.December 03, 2013 02:34 PM

Just in time for the holiday season’s overindulgence, the discount gym chain Blink Fitness tapped a retail leasing team at Newmark Grubb Knight Frank to find Manhattan locations for the expanding brand.

Blink, a division of the gym Equinox (itself a subsidiary of Stephen Ross’ Related Companies) is seeking to open between five and 10 locations — or more — over each of the next two years, Jeffrey Roseman, executive vice president at NGKF Retail, told The Real Deal.

The pair signed the exclusive representation agreement in the middle of last month, a spokesperson for NGKF said. Roseman, Marc Frankel, a senior managing director, and Benjamin Birnbaum, a managing director, are handling the agency.

The move comes as national chain store expansions slowed in the city over the past year, a report released today from the Center of an Urban Future said.

Yet at the same time, exercise buffs in thrall with specialty workouts like yoga or spin classes are looking for lower-priced options for basic services, such as weightlifting and treadmills, that Blink and competitors like Planet Fitness offer. Midtown South-based Blink charges a basic rate of $20 to $25 per month, according to its website, compared with $150 per month or more, for example at the Equinox near Union Square.

Blink was formerly represented by the Connecticut office of Charter Realty & Development, which represented Blink in a deal for gym space announced in October at commercial landlord Savanna’s 31 Penn Plaza. Charter did not respond to a request for comment.

Blink currently has 18 operating locations in New York City, Long Island, Westchester County and New Jersey, a spokesperson for NGKF said. The chain currently has three Manhattan locations in operation, in Harlem, Noho and Murray Hill, with additional sites in Chelsea, Penn Plaza and Bryant Park slated to open soon. A representative from the company did not respond to a request for comment.

Blink is seeking to lease in spaces between 15,000 and 20,000 square feet on multiple levels.

Roseman said he was looking widely for locations.

“We are looking pretty much all over [Manhattan]. It is virgin territory,” Roseman said.


Related Articles

arrow_forward_ios
Director of Research & Analytics for CBRE Tri-State Nicole LaRusso, Vice Chairman & Director at Savills David Goldstein, and President of Newmark Knight Frank's Tri-State region David Falk

“For years we all laughed at them”: office brokers warm to virtual tours

“For years we all laughed at them”: office brokers warm to virtual tours
Director of Research & Analytics for CBRE Tri-State Nicole LaRusso, Vice Chairman & Director at Savills David Goldstein, and President of Newmark Knight Frank's Tri-State region David Falk

How to open up our offices on tonight’s TRD Talk

How to open up our offices on tonight’s TRD Talk
TSCG and SCG Retail's David Firestein, Meridien Retail Leasing's James Famularo and Newmark Knight Frank's Jeffrey Roseman

Virus will leave lasting impact on retailers and their landlords, industry pros say

Virus will leave lasting impact on retailers and their landlords, industry pros say
TSCG and SCG Retail's David Firestein, Meridien Retail Leasing's James Famularo and Newmark Knight Frank's Jeffrey Roseman

How to restart retail on today’s TRD Talk

How to restart retail on today’s TRD Talk
“Be very careful what you ask for,” top broker warns borrowers seeking relief

“Be very careful what you ask for,” top broker warns borrowers seeking relief

“Be very careful what you ask for,” top broker warns borrowers seeking relief
Barry Gosin, Sandeep Mathrani and Christian Ulbrich

WeWork taps JLL, Newmark to help negotiate rent relief

WeWork taps JLL, Newmark to help negotiate rent relief
From left: Realogy's Ryan Schneider, Cushman & Wakefield's Brett White and Newmark Knight Frank's Barry Gosin (Credit: iStock)

Brokerage stocks plunge amid market turmoil

Brokerage stocks plunge amid market turmoil
125 Park Avenue (Credit: Google Maps, iStock)

Newmark hires nurse to screen visitors, employee tests positive for Coronavirus

Newmark hires nurse to screen visitors, employee tests positive for Coronavirus
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...