High-Tech Fitness Company Peloton to Relocate into New HQ in Midtown South
- Jun 13, 2014
By Veronica Grecu, Associate Editor
Peloton Interactive, a fast-growing high-tech fitness company that was founded in 2012, will soon leave its current address at 227 West 29th Street in Manhattan and move into a new world headquarters in Midtown South.
The announcement was made by Cushman & Wakefield, which represented landlord Emmes Asset Management in a lease agreement involving 9,661 square feet of space in a 12-story office building located in Midtown South. Peloton will occupy the entire fourth floor of the century-old building at 158 West 27th Street, and the landlord agreed to fit the space in order to meet the company’s business needs.
“We partnered with Emmes because of their reputation as a professional landlord who cares about their tenants’ happiness,” said John Foley, CEO of Peloton. “While the market is tight, we saw a lot of nice properties and ended up opting to go with the landlord with the best reputation. Together with Emmes and our architect Andy Bernheimer, we are going to make this space one of the coolest technology office spaces in Manhattan,” he added.
Emmes Asset Management currently owns approximately $1.6 billion in assets under management in 19 states, including multifamily, office and retail properties. The company took over the 116,000-square-foot building at 158 West 27th Street in early 2013. As reported by Crain’s New York Business, Emmes paid $57.5 million for the property, which is more than double the price paid for the same asset by real estate investors Stephen Meringoff and Leslie Himmel back in 2010.
Peloton, which recently opened a spinning studio in Chelsea, is expected to relocate into the new headquarters within a month.
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Image via PropertyShark