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Blink Fitness Signs Long-Term Lease for Landmarked Brooklyn Lyceum

NEW YORK, July 13, 2015 (GLOBE NEWSWIRE) -- Greystone, a New York-based real estate development and advisory company, today announced that it has secured a long-term lease with Blink Fitness to occupy 227 Fourth Avenue in Park Slope, Brooklyn. Known as the Brooklyn Lyceum, the building's exterior is currently being restored to its original landmark status while the interior, totaling 16,700 square feet, will be maintained with a commercial use reminiscent of its original public bathhouse days. RFK's Brandon Berger, Alex Beard and Eddie Mamiye arranged the lease on behalf of Greystone, while Blink Fitness was advised by Ezra Saff of Retail Zone.

Blink Fitness is a premium quality, value-based fitness club with more than 35 locations in New York and New Jersey. Blink is known for its signature Mood Above Muscle™ philosophy, which celebrates the positive emotions generated by exercise as opposed to solely focusing on the physical benefits. They bring this to life through the unique member experience created in every club. The Park Slope location will open in 2016.

"Once we changed gears from our initial residential development plan to single-use commercial for the Lyceum, we knew a tenant such as Blink would be ideal for both the interior space and as an added amenity to the neighborhood as a whole," said Jeffrey Simpson, head of Greystone Property Development. "By restoring and maintaining the exterior beauty of the iconic Lyceum, Park Slope residents can enjoy both the aesthetics of the building and the functional use of the space inside. We are completely thrilled that Blink will be the neighboring tenant to the 12-story residential building we are developing next door at 225 Fourth Avenue, as this will certainly be a draw to future residents."

"We couldn't be happier to have secured a presence for Blink Fitness in such an iconic building that is so treasured by the local community," said Bill Miller, Vice President of Real Estate, Blink Fitness. "We look forward to being a fixture in the Park Slope neighborhood and offering an amenity that is fitting for this vibrant and bustling market."

The Greystone Property Development team, based in New York, is currently working on a number of projects in prime locations within Manhattan, the outer NYC boroughs and Miami, FL.

About Greystone

Greystone is a real estate lending, investment and advisory company headquartered in New York. Its property development group creates boutique luxury rental and condominium residences and prime quality commercial spaces in gateway cities such as New York and Miami, FL. For more information, visit www.greystonepd.com.

About Blink Fitness

Founded in 2011, Blink Fitness is a premium quality, value-based fitness brand with 50 locations open or in development throughout New York and New Jersey. Blink Fitness puts "Mood Above Muscle™" by ensuring that each club employs the company's signature Feel Good Experience™ that highlights enthusiastic staff members, a clean environment, an open, spacious and colorful design, energizing music and fitness training that is motivating and affordable. For more information about Blink, visit www.blinkfitness.com.

CONTACT: PRESS CONTACT: Jennifer Little, Relevance NY jennifer@relevancenewyork.com 212-920-7057

Source: Greystone