The ongoing $2 billion office upgrades at Vornado Realty Trust’s Penn 1 complex next to Penn Station and Madison Square Garden have included new office building facades, public space, and many amenities directed toward tenants.
Vornado’s PENN 1 Development
In a new development, Vornado has signed premier healthy-lifestyle brand Life Time for a more than 53,000 square-foot complex on the first three floors of PENN 1. The ground-level section will feature a massive seven pickleball courts to serve devotees of the city’s fastest-growing leisure sport.
Life Time EVP Parham Javaheri commented it will be “the city’s most premier indoor pickleball club featuring lounge seating and a bar, complemented by our luxury athletic club programs and amenities.”
Life Time’s fitness center will include seven pickleball courts.https://t.co/e3LI0VkmzJ— The Real Deal (@trdny) June 21, 2023
“Life Time at Penn 1” will open in two phases, with a new athletic club replacing the old fitness center on the tower’s second and third floors this summer.
Specifics regarding the duration and rental cost of the agreement were not disclosed.
The indoor pickleball courts will provide recreational opportunities for enthusiasts and are anticipated to open next year.
According to the New York Business Journal, the ground floor area will feature pickleball courts and include amenities such as a lounge, seating area, bar, and training spaces.
Samsung recently secured a deal for 36,000 square feet on the 26th floor of the office tower, joining major tenants like Dell, Empire Heath, Gusto, Hartford Insurance, Jacobs Engineering, Morgan Stanley, and Wells Fargo.
Pickleball Gaining Popularity In NYC
Vornado Realty Trust, the property owner, has successfully leased over 700,000 square feet of office space since initiating renovations. With a $450 million investment in enhancements such as plazas, a curtain wall, improved elevators, LEED certification, and sustainability upgrades, an additional 160,000 square feet has been allocated for food and recreational amenities.
Pickleball has gained significant popularity throughout New York City, with courts appearing in parks and private developments. CityPickle has recently secured a 10,000-square-foot lease for a pickleball club in Long Island City. At the same time, Life Time introduced the city’s first dedicated indoor pickleball court in the luxury apartment building at 605 West 42nd Street, developed by the Moinian Group.
Office space developer Related has also announced it will include pickleball courts in the Hudson Yards development on the West Side.
Life Time has been progressively expanding its presence in the city, including leasing over 100,000 square feet at JDS Development’s Brooklyn Tower, the borough’s first supertall, in the previous year.
Things have certainly changed in NYC since we published this article back in February.
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