Alma Realty announced that Powerhouse Gym will open at the newly renovated 30-30 Northern Boulevard in Queens.
A Cushman & Wakefield brokerage team consisting of chairman of Global Brokerage Bruce Mosler, executive director Mitch Arkin, and executive director Joe Grotto represented Alma in the transaction.
CEO Andrew M. Weiss Jr. of Signature Partners LLC represented Powerhouse Gym in the deal.
“Powerhouse Gym choosing to sign a 10-year lease in Long Island City demonstrates a strong commitment to the community and is a great sign for the neighborhood’s future,” said Peter Kosteas of Alma Realty Corp.
“The demand for this type of retail shows that Long Island City is attracting a healthy living residential population to go along with the growing office space market. Such amenities are what bring people to the neighborhood, fueling the local economy and attracting even more investment.”
“Combined with the lower rents and available economic incentives, Long Island City has become an escape valve for tenants seeking cool space without paying the premium of being in Manhattan,” said Grotto .
The eight-story, 213,000 s/f building features floor plates ranging from 26,000 to 30,000 square feet and 12-to-15-foot high ceilings. Based on current and planned construction, the area expects more than 24,500 new residents and 31 hotels in the coming years. The gym will lease 10,323 s/f of space.