Savitt Partners
Manhattan, NY Known for fusing fitness and entertainment and pioneering a philosophy of “No Judgments,” Crunch Fitness has renewed its multi-level retail 27,450 s/f lease at 1385 Broadway. The long-term renewal encompasses 1,911 s/f on the ground floor, 1,170 s/f on the mezzanine, 23,500 s/f on the second floor, and 900 s/f in the lower level. Savitt Partners serves as the exclusive leasing and managing agent for the property and negotiated the transaction on behalf of the building ownership.
The Savitt Partners team of Brian Neugeboren and Nicole Goetz represented the building ownership. Crunch Fitness was represented in-house by Karen Gold, director, real estate and lease administration.
Located at the epicenter of the city’s three major transportation hubs (Grand Central Terminal, Port Authority Bus Terminal and Penn Station), 1385 Broadway is a 23-story, 500,000 s/f office tower that recently underwent major capital improvements. Among the upgrades completed are a new building entrance, redesigned lobby, new elevator cabs and mechanicals and the installation of energy efficient windows.
What noteworthy transactions or deals from this year best exemplified key market trends or shifts? I would like to say there was an outstanding transaction for me this past year but 2024 was more a culmination of long-term relationships, most of which continued to transact. Deals were smaller in many cases but we saw robust leasing both on the agency side as well as on the tenant side.