The Fitness Factory Health Club will set up shop in Yonkers at RXR Realty’s Larkin Plaza Development
Lee & Associates brokers Steve Lorenzo, Mitchell Salmon and Chris Ventura arranged a 15-year, 16,000 s/f lease at the three-building mixed-used complex being developed by RXR as part of its Public Private Partnership strategy to develop n transit-oriented developments within close proximity to Manhattan.
“We’re pleased to welcome Fitness Factory to our project in Yonkers,” sais Todd Rechler, Chief Construction and Development Officer at RXR Realty.
“Fitness Factory aligns with our mission of addressing the needs in local communities, and having them on board speaks to the high quality of tenants slated for Larkin Plaza.”
Larkin Plaza is a joint venture of RXR Realty and Rising Development. It features a 17-story with 170 studio, one- and two-bedroom apartments, along with ground-level retail space, and a second, 25-story building with 269 residential units. A third two-story building along Van der Donck Park has 35,000 s/f of restaurant and retail space. The development also include a 539-vehicle, three-story parking garage.
Steve Lorenzo was part of the original development team that assembled and sold the Larkin Plaza site to Rising Development and brought in RXR Realty as a partner. Lee NYC has the exclusive leasing agency for the retail space.
“Fitness Factory has an exceptional opportunity for success in this new location,” said Lorenzo, who represented both the tenant and the landlord in the new lease. “With nearly 5,000 apartment units expected to be coming online in downtown Yonkers over the next three years, incoming residents will be searching for a convenient place to work out.”
25 Larkin Plaza will be the first New York location of the New Jersey-based fitness chain and will include two stories and a 650 s/f outdoor terrace, ideal for open-air classes.
Construction of the Fitness Factory will commence at the end of 2018, with an opening slated for early 2019.