Manhattan, NY The Moinian Group signed a 3,000 s/f lease renewal with Bodyrok, a Pilates-inspired strength training and fitness studio at 10 West 18th St. in the Flatiron district.
Gabriel Whitman, vice president of leasing at The Moinian Group represented the landlord (The Moinian Group) in the transaction. The tenant (Bodyrok) was represented by Amie Claps, partner at Easy Street Properties.
“We are thrilled that Bodyrok has chosen to extend its operation at 10 West 18th St. Boutique fitness businesses continue to thrive in this neighborhood. It’s more than a trend,” said Nick Berger, director of commercial leasing at The Moinian Group. “The renewal velocity currently underway across this specific portfolio underscores how the quality of our spaces and their unparalleled location provide the perfect combination to meet this moment.
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,