NEW YORK CITY—A Life Time Athletic Lifestyle Resort is moving to Lower Manhattan, setting up a 74,000 square-foot, member-based club at One Wall Street. Macklowe Properties is the building owner and Life Time will manage its space. The health center will offer studios for group exercises, cycling, yoga, pilates and personal training, dressing rooms with whirlpools, saunas and steam rooms, a spa and café. A children’s program will include weekly classes for karate, tumbling, sports skills, yoga, music and Spanish.
The Life Time club will span four floors, and will be complemented by an 44,000 square-foot on-site Whole Foods. The proprietors are billing the project as the most extensive health and wellness center in New York City. It is expected to open next year. The contract terms including the price and length of the lease were not disclosed.
Harry Macklowe, chairman of Macklowe Properties, describes the project’s location as an area which has dramatically transformed from being the historic business district of Wall Street to a residential neighborhood. “Located in the epicenter of Downtown, One Wall Street will be the heart of the renaissance transforming the neighborhood, bringing world-class, fully amenitized condo living to the birthplace of New York City,” says Macklowe. “Life Time will play an important role in a vibrant, dynamic streetscape in Downtown’s central pedestrian corridor.”
Bahram Akradi, Life Time’s founder, CEO, chairman and president points out that the company’s approach has been established across the county. Including eight other campuses in the New York/New Jersey region, they have a total of 141 centers in 39 markets in the US and Canada. He identifies strengths of the project in both its location and the building’s history.
Originally designed by architect Ralph Walker, the 50-floor office tower was completed in 1931 as the headquarters for Irving Trust. It was exapnded in 1963. The Art Deco tower is known for its opulent Red Room designed by muralist Hildreth Meière. Macklowe Properties is undertaking a massive conversion of the office space to 566 condominiums with 176,000 square feet of amenity space. The overall structure contains 1.1 million square feet of gross floor area.
Joe Mastromonaco and Fritz Kemerling at the Darmouth Company represented Life Time. Peter Whitenack and Jaclyn Totolo of RKF, a Newmark company, represented Macklowe Properties.