Gym chain Port Fitness It has signed a 26,000-square-foot deal to open the sixth Brooklyn area 943 Kings Highway Midwood, Brooklyn, sixth in the county.

The Brooklyn-based gym chain has taken three floors up from a 40,000-square-foot retail building, 5,000 square feet on the ground floor, 4,600 square feet on the ground floor and 16,400 square feet on the second floor. Augenbaum Realty Corp.S. Josh AugenbaumRepresenting the chain and the owner in the agreement. Under a 20-year lease, the average rent for all three floors was 35 square feet.

King Highway property has previously been occupied by various gyms, most recently 24-hour fitness, Closed later The company filed for bankruptcy in Chapter 11 last year. At the time of the outbreak, the chain had permanently closed 130 locations, 10 of which were in New York State.

However, Augenbaum, who rented the venue to Harbor Fitness after the business was called in to see if it was interested in finding a new venue for Harbor Fitness, the success of the gym has made the fitness company attractive.

“The port was far-sighted to see this in history. [the building] It has been a successful gym for the last 40 years, ”Augenbaum told a business observer. “The basic law before Kovid and after Kovid is real estate, location, location, and I think so. [Harbor Fitness] Understands the motto.

An agreement for a two-story building on the corner of Coney Island Avenue and Cuntin Road was closed on Monday, Augenbaum said.

Harbor Fitness – the first Brooklyn gym in 1991 – will move into the property in the second or third quarter of next year. 943 Kings Highway LLC Augenbaum said it has completed some construction. It joins retail tenants, including the company Santander Bank, 7-Eleven And Adams Hair Salon.

Awgenba said he has leased the entire property to the gym and swimming school. Take me to the water, Which will open next year, after the previous owner is represented BMS Realty Company It was sold to the new owner last month for less than $ 14.4 million. Places Commercial Real EstateS. Nick Zweig He also worked on sales, Augenbaum said.

The swimming school took 5,000 square feet at the lowest level of the building under a 10-year contract that closed on Monday. The rent was $ 30 per square foot, Augenbaum said.

Celia Young can be found at cyoung@commercialobserver.com.

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