SL Green Announces Chelsea Piers Fitness as Flagship Retail Tenant at One Madison Avenue
SL Green Realty Corp. (SLG), Manhattan's largest office landlord, has signed a 55,780 square foot, 20-year lease with Chelsea Piers Fitness for its new office tower at One Madison Avenue. This fitness facility will be the first tenant and will support the building's amenity-rich retail environment. The development, which aims to transform the existing structure into a state-of-the-art office tower, emphasizes health and wellness with features like fresh air circulation and ample natural light. The project is a partnership with Korea's National Pension Service and Hines.
- Secured first tenant, Chelsea Piers Fitness, enhancing the building's appeal.
- Long-term lease of 20 years contributes to stable cash flow.
- Focus on health and wellness aligns with market trends and tenant needs.
- None.
Wellness Leader Signs 56,000 Square Foot Lease
Bringing Key Amenity to Midtown South’s Premier New Tower
NEW YORK, Oct. 20, 2021 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE: SLG), Manhattan's largest office landlord, today announced that Chelsea Piers Fitness has signed a 55,780 square foot, 20-year lease covering portions of the ground, second, B1 and B2 levels of the Company’s 1.4 million square foot, Midtown South office tower development at One Madison Avenue. Located adjacent to Madison Square Park between Park and Madison Avenues, Chelsea Piers Fitness is the building’s first tenant and is the foundation of an amenity-rich and curated retail collection at its base. This will be the fitness facility’s fourth location and second in Manhattan.
“Chelsea Piers is a best-in-class operator who shares the same belief as SL Green, that New York City is the greatest and most resilient city in the world and that One Madison Avenue will be the standard for the future work environment,” said Brett Herschenfeld, Managing Director at SL Green Realty Corp. “This state-of-the-art facility will deliver every fitness product and experience available in the market today, as well as new concepts and technology, which will set the high bar for health and wellness just as One Madison will set the high bar for new, sustainable office development.”
“Chelsea Piers Fitness creates incredible spaces and facilities where our members can train, achieve their goals and be a part of an engaged, inclusive, fitness and social community,” said David Tewksbury, CEO & Co-Founder at Chelsea Piers Fitness. “One Madison Avenue is an unrivaled location and will be an iconic destination in one of Manhattan’s most active neighborhoods. We look forward to partnering with the SL Green team to further our goal of creating modernized, one-of-a-kind fitness experiences.”
Together with its joint venture partners, the National Pension Service of Korea and Hines, SL Green’s development of One Madison Avenue will transform the existing full-block structure into a 27-floor, state-of-the-art office tower with cutting-edge infrastructure, best-in-class healthy work environment and a forward-thinking amenity program.
One Madison Avenue will combine the elegance of the existing limestone building together with more than 500,000 square feet of new, virtually column free construction. Health and wellness is paramount to the building design with the inclusion of DOAS HVAC, which circulates
Chelsea Piers Fitness was represented by Erin Grace and Matt Ogle of JLL.
About SL Green Realty Corp.
SL Green Realty Corp., Manhattan's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of September 30, 2021, SL Green held interests in 76 buildings totaling 35.3 million square feet. This included ownership interests in 27.2 million square feet of Manhattan buildings and 7.3 million square feet securing debt and preferred equity investments.
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SLG – LEAS
Matt DiLiberto
Chief Financial Officer
(212) 594-2700
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