RIPCO Real Estate leases 16,961 s/f at Paseo on Fifth development

Brooklyn, NY William Macklowe Company and GreenBarn Investment Group — joint developers of the new Paseo on Fifth development — have signed a 15,599 s/f lease with Planet Fitness and a 1,362 s/f lease with MD Hyperbaric to operate new fitness and wellness retail facilities located right on the namesake Paseo pedestrian breezeway.

The RIPCO Real Estate team consisting of Jason Pennington, Alex Beard, and Ben Weiner is the exclusive leasing and marketing team for the developer, and represented them in both transactions. Planet Fitness was represented by Dean Rosenzweig, Chris Betting, and Jeremy Scholder of CBRE, along with Lauren Dressler of Oak Place Partners, Inc. MD Hyperbaric was represented by Peter Levine of Charter Realty Company of CT. 

Paseo on Fifth’s Planet Fitness marks the 14th location in Brooklyn as Planet Fitness continues to bring affordable health and wellness across the five boroughs. With new locations in Staten Island and the Bronx coming soon, the Paseo Planet Fitness is the latest to offer a wide variety of services and equipment to New Yorkers at all fitness levels.

The Paseo on Fifth Planet Fitness club, plans to open in early spring 2026, offering the following features and amenities: Best-in-class strength equipment including free weights, expansive strength machines and plate-loaded bench presses, hack squats, and a seated calf machine, State-of-the-art cardio equipment, Free fitness training included in all memberships, Functional training room including a turf for agility training, Dedicated HIIT (high intensity interval training) area with air bikes and rowers, Dedicated mobility and stretching space, Black Card Spa for PF Black Card members, HydroMassage Loungers, Massage Chairs, Recovery Loungers, and Salon Grade Hybrid Tanning Beds.

The new Paseo MD Hyperbaric location on Baltic Street towards Gregory Place offers Park Slope and surrounding communities access to medical-grade Hyperbaric Oxygen Therapy services. Hyperbaric Oxygen Therapy (HBOT) is a painless, non-invasive clinical therapy that enhances the body’s natural healing process by having patients breathe in 100% oxygen in a pressurized medical-grade hard chamber. Benefits of hyperbaric oxygen therapy include enhancing the body›s natural healing process and brain function, improving post-surgical recovery, reduced inflammation, athletic recovery, performance and wellness, and supporting recovery from concussions/TBI’s and chronic conditions.

Planet Fitness and MD Hyperbaric join a community of anchor retail tenants at Paseo on Fifth including the recently-opened CVS pharmacy, a much-anticipated Lidl Supermarket and Wells Fargo bank branch, both opening soon. Together, these tenants account for over 41,000 s/f of the planned 70,174 s/f of the development›s retail/commercial space. 

“We are thrilled to see the two buildings of Paseo on Fifth growing into a thriving community, with the kind of retail and health and wellness opportunities New Yorkers are seeking,” said William Macklowe, CEO of William Macklowe Company. “For residents and the wider Park Slope community, these services complement the grocery, pharmacy and bank in the complex and all the independent retail and restaurants along Brooklyn’s vibrant 5th Avenue.”

“Planet Fitness is the gym for all fitness levels, and we are excited to welcome the Paseo on Fifth residents and our community to grow stronger together at this new Park Slope location,” said James Innocenti, COO, Supreme Fitness, “Planet Fitness offers a high value membership, an affordable wellness experience and believes that everyone can become stronger no matter where they are on their fitness journey.”

“MD Hyperbaric is excited to bring our physician- supervised, personalized hyperbaric oxygen therapy services to New Yorkers in Park Slope, Brooklyn,” said Chris Neal, CEO of MD Hyperbaric. “The Paseo on Fifth location marks our third NYC location to meet the growing demands to experience the healing power of HBOT, all while helping people achieve their unique health, wellness and recovery goals.”

The much-anticipated Paseo on Fifth residential development, just celebrated the full lease-up of 50 Paseo Pl. The development’s two companion buildings offer upscale modern apartment living in Brownstone Brooklyn, along a new paseo breezeway off the exciting 5th Avenue corridor, with easy access to transit, nature and culture.