News: Brokerage

Aragon Construction completes 5,700 s/f fitness center build-out

Aragon Construction recently completed a 5,700 s/f build-out for a boutique fitness center at Stuyvesant Town, located at 520 East 20th St. Aragon had just six weeks to demolish the old space, previously inhabited by a D'agostino supermarket, to build out the new showpiece for the fitness center, which opened exclusively to residents of Peter Cooper Village and Stuyvesant Town. Working together with S.M. Berger Architecture P.C., and interior architecture design firm Cetra/Ruddy, Inc., Aragon delivered a new fitness center consisting of a main exercise floor with weights and machines-along with aerobics and yoga rooms, a relaxation lounge and locker rooms with shower facilities for men and women. The new 14-ft., floor to ceiling storefront offers views of Peter Cooper's skyline. The new space features imported tile made by Artistic Tile consisting of riverstone pebbles in a clear resin. A 400 s/f custom-stained maple wall and millwork separates the workout areas from the more "private" areas including a lounge, locker rooms and a reception area. Wood flooring was installed in the aerobic and yoga spaces, while the cardio area consists mostly of "fitness flooring," a high-density rubber that provides a softer surface for exercise. The fitness center joins dozens of other facilities in New York City managed by American Leisure-a team of professionals that provides consulting, design, marketing and operations for lifestyle facilities, spas and fitness centers. This center is the newest addition to the complex which currently boasts seven playgrounds, eight recreation areas, an 80 acre park, and activities and facilities year-round for tenants including outdoor concerts and summer movies, concierge and shuttle services to various Manhattan locations and 24-hour on-site security. In 2006, Tishman Speyer purchased the property from MetLife for $5.4 billion dollars and was the biggest deal for a single American property in modern times. Founded in 2000, Aragon Construction is a leading New York City-based general contracting, construction management and consulting firm specializing in interior construction fit-outs for both the public and private sectors. The company has an extensive client roster, including Bank of America (retail and prime brokerage), Interpublic Group of Companies, Inc., Goldman Sachs, Dentsu America, Robert Half, SWIG Equities, Rudin Management, LaBranche and Co, Inc., Jones Lang LaSalle, SL Green, Lehman Brothers and Credit Suisse. Aragon's niche work includes corporate build-outs, boutique retail spaces and showroom spaces.
MORE FROM Brokerage

AmTrustRE secures 5,754 s/f lease with GKV Architects at 360 Lexington Avenue

Manhattan, NY AmTrustRE has executed a 5,754 s/f lease at its premier boutique Midtown East office tower, 360 Lexington Ave., with longtime partner GKV Architects. The award-winning firm will occupy a portion of the 14th floor. >“GKV Architects has been a trusted partner to AmTrustRE for over two decades, playing an integral role in shaping and elevating several
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,