Life Time reported it entered into a lease agreement with Vornado Realty Trust to occupy more than 53,000 square feet on the first three floors of the Penn 1 building adjacent to Madison Square Garden in New York City, featuring indoor pickleball courts and an athletic club.
“As part of our methodical expansion in New York City, we’re thrilled to partner with Vornado Realty Trust to bring our unique Life Time experiences to their reimagined Penn District,” said Parham Javaheri, Life Time chief property development officer and EVP. “We’re particularly excited to expand our indoor pickleball court offering in Manhattan with what will be the City’s premier indoor pickleball club featuring seven new courts, lounge seating and a bar, complemented by our luxury athletic club programs and amenities.”
Life Time at Penn 1 will open in two phases beginning in Summer 2023 with an athletic club for office workers, commuters and neighborhood residents as it takes over an existing fitness center on the second and third floors of the tower. Phase two is slated for early 2024 with seven ground-level pickleball courts, lounge, seating and bar area, dedicated spaces for Life Time’s group training programs, Alpha and GTX, and personal training. The site’s primary entrance will be at 33rd Street Plaza facing Madison Square Garden.
Life Time announced it would continue to grow its presence in New York City with plans for three new locations at The Brooklyn Tower, Brooklyn Crossing and Park Avenue South in 2024.
In 2016 Life Time opened its first NYC studio space with Life Time Sky at 605 W. 42nd Street. Since then, the company has opened athletic clubs at the Ocean Residence in Battery Park (1 West Street); in the former New York Health & Racquet clubs at 23rd Street (Between 5th and 6th), NoHo (62 Cooper Square), Midtown (110 W. 56th Street); One Wall Street development (29 New Street), and at Front & York in Brooklyn (168 Front St., Brooklyn). Life Time opened its first indoor pickleball courts in Manhattan at Life Time Sky in February.
Joe Mastromonaco of Atlantic Retail represented Life Time in the transaction.
