Planet Fitness has signed a 10-year lease for 15,599 square feet at 50 Paseo Place as part of the Paseo on Fifth development in Park Slope, Brooklyn, Commercial Observer has learned.<\/p>\n
Jason Pennington, Alex Beard and Ben Weiner from Ripco Real Estate<\/a> represented the developers, William Macklowe Company<\/a> and GreenBarn Investment Group<\/a>. Dean Rosenzweig, Chris Betting and Jeremy Scholder of CBRE<\/a>, working with Lauren Dressler of Oak Place Partners<\/a>, represented Planet Fitness.<\/p>\n SEE ALSO: Purple Crayon Preschool Takes 5K SF at 544 Carroll in Brooklyn<\/a><\/p>\n The length of the lease and the asking rent were unavailable. Retail spaces in Park Slope have recently been listed for $75 to $98 per square foot on LoopNet<\/a>.\u00a0<\/p>\n As Commercial Observer previously reported<\/a>, Paseo on Fifth consists of two residential buildings \u2014 at 50 and 55 Paseo Place \u2014 at the intersection of Fifth Avenue and Sterling Place. The buildings, connected by a pedestrian walkway called the Paseo, house 180 residential units, 45 of them affordable. The project was designed by SLCE Architects<\/a>, with interiors by Durukan Design<\/a>.\u00a0<\/a><\/p>\n Other retail tenants at Paseo on Fifth include a CVS Pharmacy that is already open, and the soon-to-open Lidl Supermarket and Wells Fargo<\/a> bank.<\/p>\n This new Planet Fitness, which is set to open in early spring, marks the chain\u2019s 14th location in Brooklyn. The company also has new locations in the works for Staten Island and the Bronx.<\/p>\n The Paseo on Fifth developers also announced the signing of a 1,362-square-foot retail lease for MD Hyperbaric, which says it offers medical-grade hyperbaric oxygen therapy services, and will be located on Baltic Street near Gregory Place.\u00a0<\/p>\n Ripco\u2019s Pennington, Beard and Weiner represented the developers. Peter Levine of Charter Realty<\/a> represented MD Hyperbaric.<\/p>\n \u201cWe are thrilled to see the two buildings of Paseo on Fifth growing into a thriving community, with the kind of retail and health and wellness opportunities New Yorkers are seeking,\u201d William Macklowe, CEO of William Macklowe Company, said in an announcement. \u201cFor residents and the wider Park Slope community, these services complement the grocery, pharmacy and bank in the complex and all the independent retail and restaurants along Brooklyn\u2019s vibrant Fifth Avenue.\u201d<\/p>\n 50 Paseo Place recently celebrated full lease-up.\u00a0<\/p>\n