The Real Deal New York

Peloton finalizes lease for new HQ at
Hudson Commons

Fitness tech company’s new space will be six times as large as its current office
By Rich Bockmann | November 19, 2018 02:15PM

A rendering of 441 Ninth Avenue and Cove Property Group’s Kevin Hoo (Credit: Cove PG)

Peloton finalized its lease for a new headquarters spanning more than 300,000 square feet on the Far West Side.

The indoor-fitness company signed a lease for 312,000 square feet at Cove Property Group’s Hudson Commons building at 441 Ninth Avenue, Peloton announced Monday.

The Real Deal first reported earlier this month that the company was nearing a deal to anchor the 700,000-square-foot office project, which Cove is redeveloping with the hedge fund Baupost Group.

Peloton’s new office will be six times the size of its current headquarters in Chelsea, and is only a short walk from the flagship studio the company plans to open at Manhattan West in 2020.

“For a long time, New York was considered to be an afterthought for tech start-ups,” Peloton co-founder John Foley wrote in a prepared statement, “but it’s now the second highest performing startup ecosystem in the world.”

Benjamin Birnbaum and Ben Shapiro at Newmark Knight Frank represented Peloton in the negotiations, while a CBRE team of Steve Siegel, Evan Haskell, Paul Haskin, James Ackerson and Benjamin Joseph is handling leasing at the property.