Planet Fitness beefs up further with 34th Street location

New York /
Dec.December 24, 2013 09:02 AM

UPDATED, 10:31 a.m., December 24: PFNY, the New York-based franchisee of the rapidly expanding Planet Fitness, will take 21,900 square feet at 213 West 34th Street, according to data from CoStar Group. The building is owned by a partnership between Bobby Cayre’s Aurora Capital Associates, the Adjmi Family and Jenel Management’s Jack Dushey.

“We are really excited about this flagship location on 34th Street as we feel it embodies the ethos of Planet Fitness,” said PFNY CEO Jeff Innocenti, “which is delivering a high quality gym experience to a large segment of society at the always-affordable price of 10$ a month.”

Aurora principal Jared Epstein confirmed the 15-year transaction at the four-story, 61,600-square-foot retail building but declined to comment further.

Asking rents for the space were $60 per square foot and Planet Fitness — known for its purple-and-yellow color scheme and cut-rate prices — will open there in April of next year, CoStar data show. The building is anchored by discount shoe retailer Designer Shoe Warehouse, which has 42,544 square feet.

Jordan Barker and Richard Chera of Crown Retail Services, who are the exclusive brokers for PFNY, deferred to Innocenti for comment.

The New-Hampshire based franchise Planet Fitness has more than 700 locations across the country, according to its website, and PFNY has at least eight other locations in Manhattan. In June, PFNY took a 29,500-square-foot space at 423 West 55th Street in Midtown West and a 28,576-square-foot gym at 25 Broadway. And in August, it inked a deal for 15,700 square feet at Magna Hospitality Group’s Sheraton Hotel in Tribeca at 370 Canal Street, as The Real Deal reported. A spokesperson for Planet Fitness couldn’t provide further information by press time.

Other budget-friendly gyms, such as Blink Fitness, have also upped the ante in Manhattan in recent months. Indeed, Blink Fitness hired a retail leasing team at Newmark Grubb Knight Frank earlier this month to help it scour for locations, as The Real Deal reported.


Related Articles

arrow_forward_ios
President Donald Trump and 1483 Shore Parkway in Brooklyn (Getty; Google Maps)

Lawsuit targets Trump for “fraudulent” rent overcharge scheme

Lawsuit targets Trump for “fraudulent” rent overcharge scheme
Blackstone's Jonathan Gray (Getty; iStock)

Blackstone acquires $358M warehouse portfolio

Blackstone acquires $358M warehouse portfolio
Simon and David Reuben with 20 East 76th Street (Getty; Google Maps)

Reuben Brothers pick up Surrey Hotel at a discount

Reuben Brothers pick up Surrey Hotel at a discount
Multifamily sector beating the odds

Multifamily sector beating the odds

Multifamily sector beating the odds
The home improvement retailer will stay in it's Flatiron location (Google Maps)

Home Depot extends lease for Flatiron store

Home Depot extends lease for Flatiron store
Hewlett Packard Enterprise Co. CEO Antonio Neri (Unsplash; Hewlett Packard Enterprise)

Hewlett Packard Enterprise leaves Silicon Valley for Texas

Hewlett Packard Enterprise leaves Silicon Valley for Texas
Convention centers are a losing proposition for private developers, but local governments see them as a way to attract business tourism. (iStock)

Convention centers boom despite shows going virtual

Convention centers boom despite shows going virtual
Charlie Kushner and Laurent Morali with Commons at White Marsh Apartments in Maryland (Photos via Sasha Maslov and CommonsatWhiteMarsh)

Kushner looks to unload multifamily properties for $800M

Kushner looks to unload multifamily properties for $800M
arrow_forward_ios

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

Loading...