Manhattan, NY Kassin Sabbagh Realty has brokered Powerhouse Gym’s lease at 158 West 27th St. The international fitness chain leased 18,887 s/f across three levels in the AFIAA-owned Chelsea property. This marks Powerhouse’s second NYC facility after its Long Island City debut, adding to other sites across N.Y. and N.J.
Associate broker Conrad Bradford, who represented the tenant in the deal, said, “KSR continues reshaping the urban landscape with purpose. Our latest transformation was bringing Powerhouse Gym to Chelsea, elevating the neighborhood’s fitness and wellness options for residents and businesses.”
“Powerhouse Gym’s expansion into Chelsea is a game changer for Manhattan’s fitness scene,” a company spokesperson said. “As the only Powerhouse Gym in the borough, we’re bringing something truly unique — an elite training environment that blends old-school grit with modern innovation.”
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,