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
Adam Neumann with 515 West Avenue (Wikipedia, Realtor, iStock)
No buzz, but Adam Neumann will take the $293M
No buzz, but Adam Neumann will take the $293M
Photo illustration depicting landlords being outearned by their lenders (iStock)
More multifamily landlords are making less than their lenders
More multifamily landlords are making less than their lenders
RFR's Aby Rosen and 285 Madison Avenue (RFR, iStock)
RFR seeks extension on 285 Madison loan
RFR seeks extension on 285 Madison loan
HNA Group's Guoqing Chen (left), SL Green CEO Marc Holliday (right), and 245 Park Avenue (SL Green, World Travel & Tourism Council - via Wikimedia Commons, LoopNet)
HNA must pay SL Green fat sum over 245 Park Avenue
HNA must pay SL Green fat sum over 245 Park Avenue
Mayor Eric Adams and Extell's Gary Barnett (Photos by Paul Dilakian)
Real estate’s titans talk building, selling, and reinventing the city
Real estate’s titans talk building, selling, and reinventing the city
ICSC at Las Vegas (photos by Joe Lovinger and Suzannah Cavanaugh/The Real Deal)
“Hot girl real estate” reigns at ICSC, Covid be damned
“Hot girl real estate” reigns at ICSC, Covid be damned
(iStock)
Banks, tech among departures sinking Midtown office market
Banks, tech among departures sinking Midtown office market
Irvine Company chairman Donald Bren, Tishman Speyer CEO Rob Speyer, and 200 Park Avenue (Getty Images, Irvine Company, iStock)
Capital Grille signs with Tishman Speyer, Irvine at MetLife Building
Capital Grille signs with Tishman Speyer, Irvine at MetLife Building
arrow_forward_ios

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

Loading...