Known for fusing fitness and entertainment and pioneering a philosophy of “No Judgments,” Crunch Fitness has renewed its multi-level retail lease at 1385 Broadway. The long-term renewal encompasses 1,911 square feet on the ground floor, 1,170 square feet on the mezzanine, 23,500 square feet on the second floor, and approximately 900 square feet in the lower level. Savitt Partners, a full-service commercial real estate company that owns and manages nearly three million square feet of space throughout Manhattan, serves as the exclusive leasing and managing agent for the property and negotiated the transaction on behalf of the building ownership.
The Savitt Partners team of Brian Neugeboren and Nicole Goetz represented the building ownership in direct negotiations with Crunch Fitness in-house representatives. The asking rent for second floor at the property was $55-per-square-foot.
Located at the epicenter of the New York City’s three major transportation hubs (Grand Central Terminal, Port Authority Bus Terminal and Penn Station), 1385 Broadway is a 23-story, 500,000-square-foot office tower that recently underwent major capital improvements. Among the upgrades completed are a new building entrance, redesigned lobby, new elevator cabs and mechanicals and the installation of energy efficient windows.
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