A high-end fitness company with technology-focused wellness offerings is moving into Rockrose Development’s West Village apartment building.
Continuum leased 25,000 square feet at Archive Building, taking the main and lower levels of the luxury rental property at 666 Greenwich Street.
Steve Gold of the Corcoran Group represented Continuum in the long-term lease, which runs through September 2032. Rockrose represented the ownership group. The asking rent was not available.
The Archive has 479 units surrounding an internal atrium, along with amenities including an in-house cinema, parking and a common roof deck.
The property’s current 80,000 square feet of retail space is divided into stores that includes a D’Agostino supermarket.
Continuum’s space was previously occupied by David Barton Gym and most recently by former pandemic darling Peloton for its Tread Studio prior to its move to Manhattan West. After opening in May, Continuum will offer personal training, recovery and wellness therapies including plunge pools, float tanks and a hyperbaric chamber.
Built in 1892, the Romanesque Revival-style red brick building takes up the full block bounded by Greenwich, Washington, Christopher and Barrow streets.
Owned at the time by the federal government and built near the piers for customs operations, the nearly one-acre property was declared a city landmark in 1967.
Eventually emptied, the building became surplus to the government and in 1982 was turned over to New York City. A partnership of the New York State Urban Development Corporation and Teitelbaum Group was designated to convert the 550,000-square-foot historic building into apartments.
Rockrose had been part of that proposal, which won over nine others, but with so many agencies involved, the firm backed out.
Teitelbaum’s financial backer, the Starrett Corporation, was heavily involved in projects in Iran and its assets were frozen following the 1979 revolution that brought the Ayatollah Khomeini to power.
Read more
New York
Nonprofits in the Federal Archive Building saved from rent hike
Commercial
New York
Convicted fraudster illegally occupied posh West Village rental: lawsuit
Commercial
New York
Rockrose shows West Village retailer the door
Teitelbaum turned again to H. Henry Elghanayan’s Rockrose Development. In 1985, Rockrose joined as a general partner in the 99-year lease. The operating group pays into a fund for historic preservation but has a full property tax exemption.
The Landmarks Conservancy, which led the original conversion push for the building starting in 1974, receives around $5.5 million and 8 percent of the commercial rent — roughly $100,000 per year — for 75 years. The revenue funds low-interest loans to support other historic property restorations.