By
the
Numbers
SoulCycle is among the fitness companies expanding in New York.
22 Total number of leases signed for gym and studio space in Manhattan in 2013, more than double 2012’s nine. The number of NYC fitness, sport, and recreational establishments grew almost 28 percent between 2007 and 2013.
177% Increase in total square footage
The retail space “workout”
Fitness centers eat up increasing amount of storefront space in five boroughs
F
itness centers come standard in most new residential condos these days, but that isn’t slowing the spread of gyms and other fitness-related businesses throughout the five boroughs. Seven of the 20 largest retail leases in Manhattan last year went to fitness facilities like Equinox, Crunch and Planet Fitness, The Real Deal reported in January. In addition to these large facilities, trendy niche fitness options, like the spinning-meets-spirituality SoulCycle and body sculpting palace the Bar Method, are snapping up smaller commercial spaces, along with boutique fitness businesses like yoga studios. “It not only serves as an amenity to the neighborhood, but also to the companies in our buildings,” said Mark Stein, senior vice president of development firm Meringoff Properties, which recently signed SoulCycle to a 6,000-square-foot lease in NoMad. “It generates the type of buzz that a very cool restaurant would.” This month, TRD looked at this rapidly growing sector — the recent surge of lease-signings, as well as outer-borough expansions — and what it costs to keep New York fit. Equipment being installed at Crunch’s newest location on Staten Island. By Sasha von Oldershausen
for fitness centers that Cushman & Wakefield signed in 2013, when it inked nine leases for 196,981 square feet, versus 2008, when it had three leases for 71,222 square feet.
14 Number of Crunch gym locations in New York City. The company, founded in 1989, plans to add an average of five locations a year in the New York area going forward. Among the four most recent signings is its first location on Staten Island.
400,000
Village in 2012 — the lowest of any NYC neighborhood. A Yelp search found 24 gym listings in Chelsea alone, and another 19 combined in Greenwich Village and the West Village.
3 The number of East New York gyms listed on Yelp, where the obesity rate is 37.6 percent, the highest for any neighborhood in the city.
$60 billion Estimated amount Americans spend annually trying to lose weight — from gym memberships, to weight loss programs, to drinking diet soda.
35,000 sq. ft.
The size of the largest Manhattan fitness club lease in 2013. The deal, which was also the year’s eighth largest overall retail lease in the city, was inked by Equinox at Brookfield Place’s 225 Liberty Street.
Number of members Planet Fitness has in its New York City, Westchester and Rockland County locations. The company, the nation’s fastest growing gym chain, adds roughly 4,000 to 5,000 new members with each new center, according to CEO Chris Rondeau.
1,548
Number of yoga studios listed by Yelp in the five boroughs. In the past five years, yoga participation shot up 20 percent annually. Now, one in 10 Americans participate in the $27 billion industry. Between 2008 and 2012, the industry grew by 81 percent.
$55
Average monthly cost of a gym membership nationwide. The average amount of gym membership dollars wasted from under-utilization is $39.
By the Numbers
Equinox took 35,000 square feet at Brookfield Place.
$205 Average monthly cost of an Equinox membership in NYC. By comparison, the lowest cost Planet Fitness membership is $10, while a single SoulCycle class costs $34. Sources: New York City Economic Development Corp., Cushman & Wakefield, NYC Health Department, Trust for America’s Health and Robert Wood Johnson Foundation,U.S. News & World Report, Statisticbrain. com, Examiner, Smartasset, TRD reporting.
Fifth avenue Dream Penthouse | $11,000,000
NIKKI FIELD Senior Global Real Estate Advisor, Associate Broker | 212.606.7669 | nikki.field@sothebyshomes.com | www.nikkifield.com PatrIcIa a. WhEatLEy Global Real Estate Advsior, Associate Broker | 212.606.7613 | pat.wheatley@sothebyshomes.com East Side Manhattan Brokerage | 38 East 61st Street, New York, NY 10065 Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby’s International Realty, Inc.
20 July 2014 www.TheRealDeal.com
7.9% Obesity rate for Chelsea/Greenwich