The Real Deal New York

ClassPass inks deal for fitness studio at Industry City

Fitness startup inks 7K sf deal in Sunset Park
October 10, 2017 05:00PM

Industry City and ClassPass’ Payal Kadakia (Credit: ClassPass)

Fitness startup ClassPass is opening up a studio to live-stream classes from Industry City.

The company signed a five-year lease for a 7,000-square-foot space at Industry City’s 34 34th Street, the Commercial Observer reported.

The rent was $30 per square foot.

ClassPass, which sells monthly memberships that give users access to boutique fitness studios across the city, is temporarily subletting 11,000 square feet at Industry City’s 80 39th Street until its new space is delivered, which is expected to be in January.

Industry City’s Jeff Fein and Jason Gold negotiated on behalf of the partnership that owns the Sunset Park megacomplex, led by Jamestown and Belvedere Capital. Dennis Someck and Justin Meyers at Lee & Associates represented ClassPass.

The Industry City owners, which are trying to lure Amazon’s HQ2 as a tenant, are looking to rezone the complex from 5.3 million to 6.6 million square feet. Condé Nast recently signed a lease to open a test kitchen and video studio for its Bon Appétit and Epicurious titles at Industry City, as The Real Deal originally reported, and Russian billionaire Mikhail Prokhorov inked a deal to move the corporate headquarters for the Brooklyn Nets and the Barclays Center there.

ClassPass leases a little more than 28,000 square feet of office space at 275 Seventh Avenue in Manhattan. [CO]Rich Bockmann