Life Time Continues Leasing Momentum wth Williamsburg Deal

There may be a time when Life Time doesn’t snag large sites across New York City, but now is not that time.

The health club and fitness chain signed a lease for 71,000 square feet at Double U Development’s project in Williamsburg, the New York Business Journal reported. Financial terms of the deal at 83 Wythe Avenue were not disclosed.

The club’s presence at the four-story commercial development will include water- and recovery-centric amenities, according to the tenant. A rooftop social club could also be on the table, which would include food, beverages and a pool deck.

The developer behind the project did not return a request for comment from the publication. The redevelopment of the former one-story industrial property is expected to be completed by the fall.

As of approximately a year ago, Double U’s portfolio spanned roughly 10 properties, including multifamily, office and commercial buildings. Last May, Michael Weitzman’s firm filed permits to convert a historic Greenpoint building at 144 Greenpoint Avenue into a six-story mixed-use building with retail space and 35 apartments.

While Double U was expanding its presence in New York, Life Time was exploding across the five boroughs.

Last year, Life Time signed a 20-year lease at PBC’s 10 Bryant Park, which proved to be the third-largest retail lease of the year in Manhattan. The space, expected to open early next year, is set to include a co-ed wet suite, a steam room, a sauna, a cold-plunge pool, fitness studios, training spaces, spas, a coworking space and a library.

The company’s presence was also felt in Brooklyn, where it signed the second-largest lease of the year between that borough and Queens. It inked a five-year lease for an 80,000-square-foot space at Silverstein Properties’ Brooklyn Tower.

The gym will occupy seven floors of the massive 74-story, 550-unit tower at 9 Dekalb Avenue. Asking rent was $115 per square foot, according to Commercial Observer. The space will feature a rooftop pool, cold-plunge pool, steam room and coworking and training spaces.

— Holden Walter-Warner