Life Time Signs 53,000-Square-Foot Lease in New York City

New York City — Life Time Fitness has entered a 53,000-square-foot lease agreement to occupy space on the first three floors of PENN 1, a building located adjacent to Madison Square Garden in New York City. The location will open in two phases beginning in summer 2023. Phase One will feature boutique studios, hundreds of pieces of equipment, a curated recovery space, spa, dressing rooms and a juice bar. Phase Two Is scheduled for early 2024 and will include seven ground-floor pickleball courts, a lounge, a seating and bar area and dedicated training spaces. Vornado Realty Trust is the landlord. Joe Mastromonaco of Atlantic Retail represented Life Time in the lease negotiations. The brand’s current plans include three other new locations in the city.