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Deals & Dealmakers

SL Green signs Chelsea Piers Fitness as first tenant at One Madison

SL Green announced that Chelsea Piers Fitness has signed a 55,780 s/f, 20-year lease covering portions of the ground, second, B1 and B2 levels of the Company’s 1.4 million square foot, Midtown South office tower development at One Madison Avenue.

Located adjacent to Madison Square Park between Park and Madison Avenues, Chelsea Piers Fitness is the building’s first tenant and is the foundation of an amenity-rich and curated retail collection at its base. This will be the fitness facility’s fourth location and second in Manhattan.

“Chelsea Piers is a best-in-class operator who shares the same belief as SL Green, that New York City is the greatest and most resilient city in the world and that One Madison Avenue will be the standard for the future work environment,” said Brett Herschenfeld, Managing Director at SL Green Realty Corp. “This state-of-the-art facility will deliver every fitness product and experience available in the market today, as well as new concepts and technology, which will set the high bar for health and wellness just as One Madison will set the high bar for new, sustainable office development.”

“Chelsea Piers Fitness creates incredible spaces and facilities where our members can train, achieve their goals and be a part of an engaged, inclusive, fitness and social community,” said David Tewksbury, CEO & Co-Founder at Chelsea Piers Fitness. “One Madison Avenue is an unrivaled location and will be an iconic destination in one of Manhattan’s most active neighborhoods. We look forward to partnering with the SL Green team to further our goal of creating modernized, one-of-a-kind fitness experiences.”

Together with its joint venture partners, the National Pension Service of Korea and Hines, SL Green’s development of One Madison Avenue will transform the existing full-block structure into a 27-floor, state-of-the-art office tower with cutting-edge infrastructure, best-in-class healthy work environment and a forward-thinking amenity program.

One Madison Avenue will combine the elegance of the existing limestone building together with more than 500,000 square feet of new, virtually column free construction. Health and wellness is paramount to the building design with the inclusion of DOAS HVAC, which circulates 100% fresh outside air. New, oversized floor to ceiling windows in the podium and a continuous curtain wall in the tower will flood the floors with natural daylight. Mega-sized roof terraces will provide a one-of-a-kind opportunity to create indoor/outdoor, work/entertainment space. In addition to Chelsea Piers, amenities are currently anticipated to include a 13,000 square foot upscale restaurant, 10,000 square foot artisanal dining market and 7,000 square foot tenant-exclusive lounge with direct elevator access to a 10,000 square foot rooftop deck.

Chelsea Piers Fitness was represented by Erin Grace and Matt Ogle of JLL.

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