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Deals & Dealmakers

Brookfield lands Peloton to co-anchor Manhattan West retail

Peloton, the technology company that revolutionized the fitness industry with its indoor cycling bike, announced that it will build a 35,000 s/f state-of-the-art flagship location, called “Peloton Studios,” at Brookfield’s Manhattan West development.

The new facility will house Peloton’s broadcast and production operations and several studios, from which hundreds of group fitness classes will be hosted and live streamed every week to the Peloton Bike, the Peloton Tread and the Peloton digital platforms including the iOS app.

The new multi-studio space will offer several types of fitness classes, including indoor cycling, running, bootcamp, strength training, and more, all under one roof. Peloton Studios is expected to open in Fall 2019.

With its groundbreaking technology, Peloton enables its members to participate in both live and on-demand classes from the convenience of their own homes.

With the opening of this flagship location, Peloton will be able to provide its members with even more ways to experience its group fitness classes across new verticals.

Whether in-person, with classes open to the public, or from home via the Peloton Bike, Tread, or iOS App, people will have direct access to Peloton’s content, all of which will be broadcast live from thE cutting-edge new space.

To date, Peloton has nearly one million members, comprising bike owners, iOS app users and in-studio riders, and will be adding millions more in the coming years with the addition of the Peloton Tread, a live total body fitness experience launching in Fall 2018.

The addition of this new studio will mark a major milestone for thE award-winning company’s growth and success, giving Peloton the flexibility to create a wide variety and quantity of classes from a world-class production facility.

“Peloton Studios will be a beacon of fitness programming unlike anything created in the industry to date. Our unique combination of elite instruction, first class facilities, and state-of-the-art production capabilities will provide a superior experience for both our live studio audiences and our Members at home,” said Fred Klein, Chief Content Officer, Peloton.

“Perhaps most importantly, the Peloton Studios will become a gathering place for our uniquely passionate community to enjoy one another’s company, take their favorite classes together, and meet the instructors who inspire them year-round.”

Michael Goldban, Head of Retail Leasing, Brookfield Properties, said, “At Manhattan West, we have set out to create a destination unlike any that exists, and the flagship studio Peloton plans to create will serve as a health and wellness anchor for the complex and neighborhood, and a new model for the industry.”

Peloton was represented by Benjamin Birnbaum and Ben Shapiro of Newmark Knight Frank and Brookfield was represented by Patrick Smith and Matt Ogle of Jones Lang LaSalle as well as Michael Goldban and Mark Kostic in-house at Brookfield.

Manhattan West is an eight-acre, six-building mixed-use development, stretching from Ninth Avenue to Tenth Avenue and 31st Street to 33rd Street.

It will feature nearly six million square feet of Class-A office space, luxury residences at The Eugene, and a boutique hotel.

The 250,000 s/f of retail at Manhattan West will be anchored by Peloton and Whole Foods, which is creating a 60,000 s/f culinary destination at the complex.

Brookfield has signed on a series of leading tenants to the Manhattan West commercial portfolio, including Amazon, JP Morgan Chase and RGA at Five Manhattan West, and Accenture, EY, McKool Smith, the NHL, and Skadden, Arps, Slate, Meagher & Flom.

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