SoulCycle, Blink Fitness Land at JTRE’s Midtown Retail Conversion

JTRE Holdings’ Jack Terzi is giving his new three-story Midtown East retail building, which is undergoing a conversion from a parking garage, a health and fitness theme.

Discount gym chain Blink Fitness, a division of Equinox, and spinning studio SoulCycle each signed 20-year leases last week for a combined 25,000 square feet of the 30,000-square-foot property at 234-240 East 54th Street. Blink Fitness is taking 20,500 square feet on the full second and third floors and part of the ground floor. SoulCycle grabbed 4,500 square feet of the ground-floor space.

Terzi said he is seeking a juice or salad tenant for the remainder of the space. Just up the street, Equinox occupies the retail space at the Mondrian at 246-254 East 54th Street. There were no brokers involved in the Blink Fitness or SoulCycle lease deals, he added.

JTRE closed on the purchase of the garage from the Gould family for $21 million last week after entering contract in December, Terzi said. Meanwhile,

Leave a Reply