Life Time inks 52,000 s/f Bryant Park deal
Manhattan, NY Property & Building Corp. Ltd. (PBC) has completed a lease for 52,000 s/f with leading wellness brand Life Time, Inc. for an urban fitness and wellness club at 10 Bryant, the class A Midtown office tower at 452 Fifth Ave.
This transaction completes the leasing program and repositioning effort for the 865,000 s/f, 30-story tower overlooking Bryant Park on the southwest corner of Fifth Ave. and 40th St. Since January 2023, JLL, the exclusive leasing agent for the property, has completed 522,000 s/f of leases, nearing full occupancy.
PBC-US chief executive officer Eli Elefant said, “This lease represents the capstone of a remarkable repositioning journey that has elevated this property into one of New York City’s premier office destinations. Its leasing success underscores the lasting appeal of well-located, thoughtfully amenitized assets in the heart of Manhattan.”
“10 Bryant is an exceptional property that enables companies to enhance their workplace experience and support employee attraction, retention and productivity,” said JLL vice chairman Paul Glickman. “The building has attracted top-tier tenants who value its premier Midtown location and immediate access to Bryant Park.”
Glickman leads the exclusive office leasing team for 10 Bryant alongside vice chairman Patrick Smith, who leads JLL’s retail team.
Smith said “The Life Time Fitness transaction further defines the evolution for this section of Fifth Avenue and enhances the Grand Central District westward and the Bryant Park District, eastward. With the upcoming openings of Shaver Hall food hall later this year, the Life Time announcement, and multiple new food and lifestyle offerings, the corridor is emerging real-time as a unique and dynamic destination. This transaction is a huge win for 10 Bryant Park.”
The Life Time location at 10 Bryant will offer world-class facilities, expert trainers and resort-like areas including a cold-plunge pool and a steam room, a luxury spa with red light therapy, coworking and library spaces, fitness studios with barre and yoga, and training spaces.
Recent office leases at 10 Bryant include a large tech company for 330,000 s/f, Novartis for 15,865 s/f, Generate Capital for 32,400 s/f, Brighton Park Capital for 16,428 s/f, Tilden Park Capital for 16,140 s/f and 17Capital for 16,300 s/f.
10 Bryant consists of a 30-story tower built in 1984 adjoining the 10-story Knox Building, a Beaux-Arts property designed in 1902 by John Duncan. The Knox Building features a decorated limestone facade, arched windows, decorative cornicing and a mansard roof. The property faces Bryant Park immediately to the north and is surrounded by prominent retail, dining, hospitality and cultural institutions.
10 Bryant enjoys proximity to multiple transportation options, including Grand Central Terminal and the Metro North/LIRR Railroads, the Times Square subway network, as well as Penn Station and the Port Authority Bus Terminal, all a short walk away.