Tavros, a privately-owned real estate investment management and development firm, announced the signing of a long-term lease agreement with Chelsea Piers Fitness at the planned mixed-use tower at 250 Water Street. The New York-based fitness and wellness brand will open a five-story, 76,000-square-foot state-of-the-art fitness club including 9,000 square feet of outdoor space.
250 Water Street is one of the last remaining full-block development opportunities in Lower Manhattan with the creation of 600 apartments, 25% of which will be affordable, and commercial space anchoring the building’s at-grade space and podium. Atlantic Retail is handling the leasing for the 35,000-square-foot ground floor retail space that features high ceilings and an at-grade loading dock. Tavros acquired 250 Water Street in February with Atlas Capital and expects construction to break ground this coming winter.
“When we acquired 250 Water Street, our vision was to deliver not just housing but a complete neighborhood asset for the Seaport — and a best-in-class fitness community destination was central to that,” said Colin Rankowitz, partner of Tavros. “Chelsea Piers Fitness builds clubs people actually love — clubs that bring people together and create community — and we’re proud to partner with them for a second time. Their commitment to Lower Manhattan reinforces what we saw in 250 Water Street from day one — a once-in-a-generation opportunity to deliver housing, retail and world-class amenities at the heart of one of New York’s most historic neighborhoods.”
Designed as a full-service destination for fitness, health, and sports, the facility will offer residents and the growing residential community access to a best-in-class experience, meeting an unmet need for the area. This new location will build on Chelsea Piers’ continued commitment to building neighborhood-rooted clubs designed for longevity, connection, and everyday wellbeing.
“Lower Manhattan is one of the fastest-growing residential neighborhoods in New York City,” said David Tewksbury, CEO and co-founder of Chelsea Piers Fitness. “Our club at 250 Water Street will be expansive — full of light, beautiful indoor and outdoor spaces, as well as a new home to showcase our best-in-class fitness programming which we know the community will love.”
Tavros’ portfolio includes a 55-story condominium project in Court Square, Long Island City; Gowanus Wharf, a five-building residential campus spanning four sites with more than 2,200 residential units and 50 Ninth Avenue, an 80,000-square-foot commercial building in Manhattan’s Meatpacking District that houses Rolls Royce’s luxury showroom.
