BROOKLYN, N.Y.–(BUSINESS WIRE)–CIM Group announced today that it has secured a long-term lease with Life Time, the nation’s premier healthy lifestyle brand, to bring a 77,000+ square-foot luxury athletic resort to Front & York, the mixed-use, full-service luxury residential and retail project located at 85 Jay Street in Brooklyn’s DUMBO neighborhood. Designed with health, wellness, and community at its core, Life Time selected Front & York for its first Brooklyn location. Life Time will be a convenient health, fitness, sports and wellness option for Front & York’s residents and the broader community. CIM is co-developing Front & York with LIVWRK, a Brooklyn-based real estate company concentrated on mixed-use urban development.
The Front & York development is situated on 3.1 acres, spanning an entire city block, with over 1,500 linear feet of street frontage in the heart of DUMBO, a neighborhood located at the base of the Brooklyn and the Manhattan Bridges. Site work on the project commenced last summer, and when complete, Front & York will bring 150,000 square feet of new retail space, 408 residential condominium homes, and 320 rental apartments to this appealing neighborhood. Residents will have access to an array of amenities including one of Brooklyn’s largest private parks.
“As Life Time continues to expand our presence throughout 5 boroughs, Brooklyn has also been a primary focus,” said Parham Javaheri, Life Time executive vice president, real estate and development. “The vision of Front & York aligns perfectly with our mission to provide the ultimate experience in healthy living, healthy aging and healthy entertainment to communities. We are eager for this project to move forward.”
With cutting-edge health, wellness and nutrition programming, Life Time will deliver unmatched resort-style amenities for all ages. Highlights will include five dedicated studios for group fitness, yoga, Pilates, Barre and indoor cycle; a spacious fitness floor with state-of-the-art cardio and weight-based equipment and space for small group and personal training; an indoor lap pool, whirlpools and saunas; and a regulation-size basketball court. As well, the space will offer Kids Academy programming for children ages 3 months to 11 years old, a full-service, fast casual LifeCafe and LifeSpa, a full-service salon and spa.
“Front & York is the first fully-amenitized luxury residential experience in DUMBO, and now together with Life Time, an upscale athletic resort, Front & York offers an unparalleled lifestyle at a single location in Brooklyn,” said Jason Schreiber, Principal of CIM Group, co-developer of Front and York.
Front & York is convenient to multiple transportation options to Manhattan and other parts of Long Island. It is proximate to the York Street Subway Station (F train) and is a short walk to the A and C lines at High Street. The Brooklyn Bridge, the East River Ferry Brooklyn Bridge Park/DUMBO Terminal as well as multiple bus lines.
CIM Group brings its long-standing development and operational expertise including construction management, property management and leasing to enhance its properties in Brooklyn as well as bringing new concepts to the neighborhood as it has done in other communities across North America.
CIM Group’s in-house leasing team represented the ownership, and Dartmouth Company represented Life Time Fitness in the transaction. For more information about Front & York please visit: www.frontandyork.com/
ABOUT CIM GROUP
CIM is a community-focused real estate and infrastructure owner, operator and lender. Since 1994, CIM has led more than $60 billion of projects in metropolitan communities across the Americas on behalf of its own account and for its partners and co-investors. CIM’s broad in-house expertise includes decades of research, acquisition, credit analysis, development, finance, leasing and property management experience in real assets located in and serving densely-populated communities, net-lease assets and other associated credit strategies. Using its disciplined approach and extensive in-house expertise, CIM seeks to create value in projects, which ultimately enhances communities. For more information, visit www.cimgroup.com.
Founded in 2013, LIVWRK is a Brooklyn-based real estate company concentrated on mixed-use urban development. The firm specializes in large-scale creative developments, meticulously planning every element of the design and engineering process from the inception of a project to its completion.
The firm’s first acquisition is known as Dumbo Heights, a 1.3M square foot, six-building warehouse complex located in DUMBO Brooklyn that LIVWRK converted from its former use as a printing press facility into an unrivaled creative work campus and retail destination.
Other projects include PANORAMA, a collection of five interconnected office and warehouse buildings originally built in the 1920s by Squibb Pharmaceutical and subsequently used by the Jehovah’s Witnesses as their global headquarters; as well as Front & York, a ground-up 1.2M square foot mixed-use residential and retail building rising now on a full block in the heart of DUMBO, Brooklyn.
About Life Time® – Healthy Way of Life
Life Time champions a healthy and happy life for its members across 144 destinations in 39 major markets in the U.S. and Canada. As the nation’s only Healthy Way of Life brand, Life Time delivers an unmatched athletic resort experience and provides a comprehensive healthy living, healthy aging and healthy entertainment experience that goes well beyond fitness to encompass the entire spectrum of daily life for individuals, couples and families of all ages. For more information, visit www.lifetime.life.
For Life Time