NEW YORK CITY—Peloton has joined Brookfield Properties' Five Manhattan West, signing a 20-year lease for their 35,000 square-foot flagship location, called Peloton Studios. It is scheduled to open in fall 2019. The fitness company is building on-site broadcast and production facilities and several studios, from which it will run hundreds of group fitness classes that will be hosted and live-streamed on digital platforms including an iOS app.
Members can attend classes at the Manhattan West location or participate with live and on-demand classes from their homes. The multiple studios will house different types of fitness classes such as indoor cycling, running, boot camp, strength training, all of which will also be broadcast online.
In addition to noting state-of-the-art production facilities, Peloton's chief content officer Fred Klein underscores the experiential aspect of coming to the location. “Perhaps most importantly, the Peloton Studios will become a gathering place for our uniquely passionate community to enjoy one another's company, take their favorite classes together, and meet the instructors who inspire them year-round.”
The 250,000 square feet of retail at Brookfield's Manhattan West will be anchored by Peloton and Whole Foods, which is opening a 60,000 square-foot culinary destination.
“Peloton is driving some of the latest trends not only of our industry but also of our culture: the future of fitness, state-of-the-art technology, experiential retail and high-end design,” says Michael Goldban, head of retail leasing at Brookfield Properties.
Brookfield's Manhattan West is an $4.5 billion, eight-acre, six-building, mixed-use development under construction. It includes six million square feet of Class-A office space, residences at The Eugene, a boutique hotel, retail, and public arts and events by Arts Brookfield. It extends from W. 31st to W. 33rd streets, between Ninth and Tenth avenues.
Brookfield was represented in-house by Michael Goldban and Mark Kostic, and by Jones Lang LaSalle's Patrick Smith and Matt Ogle. Benjamin Birnbaum and Ben Shapiro of Newmark Knight Frank represented Peloton.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
