Newswire • Mann Market

Newmark Retail Completes Six Boutique Fitness Deals in NYC 

October 1, 2021

Self-defense education company The Krav Maga Institute (KMI) has leased approximately 5,000 square feet in a 10-year lease at 281 Broadway, announced Newmark Retail. Newmark’s Managing Director Andrew Stern and Director Ravi Idnani represented KMI in the transaction.

KMI is the largest self-defense education organization in the U.S., and its New York City chapter is the only fully-certified Krav Maga school in the city, the firm said. The space was formerly occupied by a Crossfit gym. It is the sixth boutique fitness transaction (totaling 17,000 square feet) the firm has completed in New York City since May 2021.

“With retail leasing ramping back up post-pandemic, we have seen increasing demand from boutique fitness tenants,” Idnani said. “As residents have returned to group fitness, smaller, boutique retail spaces that offer a unique, intimate experience have been particularly in demand, as evidenced by the slate of transactions our team has recently completed.”

In addition to the KMI deal, the Newmark team was also involved in several additional boutique fitness transactions:

  • A franchisee of Sweat440 signed a lease for approximately 4,200 square feet at 80 John Street in the Financial District. Idnani and Newmark Associate Director Aric Trakhtenberg represented the asset owner, Klosed Properties, in the transaction.
  • Erika Bloom Pilates signed a lease for 2,574 square feet at 104 Franklin Street. Ownership was represented by Stern and Idnani, while Michelle Ball of Rudd Realty represented the tenant.
  • Karate studio Karate-Do Ken Wa Kan relocated within the West Village submarket to a new 2,500-square foot location on the second floor at 34 West 15th St. Stern and Idnani represented the tenant in the deal.
  • High-end boutique fitness studio Joseph Charles Fitness signed a lease for approximately 2,000 square feet at 44 Trinity Pl. in the Financial District. Stern and Idnani represented the tenant.
  • Personal training studio Aesthetic Lab signed a lease for approximately 1,200 square feet on the second floor at 132 West Houston St. Stern, Idnani and Newmark Executive Managing Director Joshua Strauss represented the ownership in the transaction.