---
title: "Chelsea Piers Fitness Pre-Leases 76K SF at Tavros’ 250 Water Street"
url: https://burnaze.com/article/f967f98d-6dca-4842-96df-b44cb236c12e
source: "Commercial Observer"
original_url: https://commercialobserver.com/2026/05/chelsea-piers-fitness-lease-tavros-250-water-street/
author: "Mark Hallum"
category: "Gym & HVLP"
industry: "Fitness"
segment: "Gym & HVLP"
published: 2026-05-14T20:18:21.000Z
modified: 2026-10-31T13:18:27.323Z
image: https://commercialobserver.com/wp-content/uploads/sites/3/2026/05/250-Water-St_Colin-Rankowitz-copy.jpg?quality=80&resize=1200%2C630&strip=
---

# Chelsea Piers Fitness Pre-Leases 76K SF at Tavros’ 250 Water Street

**TL;DR:** Chelsea Piers Fitness has pre-leased a 76,000-square-foot space at Tavros' 250 Water Street development in Manhattan's Seaport District. The fitness studio franchise will open a five-story facility within the new 600-unit mixed-use development.

*By Mark Hallum, originally published in Commercial Observer on 2026-05-14. [Read the original](https://commercialobserver.com/2026/05/chelsea-piers-fitness-lease-tavros-250-water-street/).*

## Story

The developers of a mixed-use project in Manhattan’s Seaport District have signed a luxury fitness brand as an anchor retail tenant.

**Chelsea Piers Fitness**, a gym and wellness studio franchise, will open a five-story, 76,000-square-foot fitness center at **Tavros**’ planned mixed-use tower at **250 Water Street**, according to a Thursday announcement from the landlord.

Tavros bought the development site between Peck Slip and Beekman Street with **Atlas Capital** for $143 million in February, according to Tavros, after the last owners struggled to get a controversial high-rise project off the ground.

The asking rent and the length of Chelsea Piers Fitness’ lease in the planned 600-unit development were not disclosed, but the median retail asking rent in the nearby Financial District was $248 per square foot in the second half of 2025, according to a report from the **Real Estate Board of New York**.

“When we acquired 250 Water Street, our vision was to deliver not just housing but a complete neighborhood asset for the Seaport — and a best-in-class fitness community destination was central to that,” **Colin Rankowitz**, a partner at Tavros, said in a statement. “Chelsea Piers Fitness builds clubs people actually love — clubs that bring people together and create community — and we’re proud to partner with them for a second time.”

Tavros also partnered with Chelsea Piers Fitness in July 2023 to open a 72,000-square-foot fitness club at its project at **24-11 Jackson Avenue** in Long Island City, Queens, which was put on hold in 2024 and commenced in 2025.

Tavros and Chelsea Piers negotiated the lease at 250 Water Street in-house.

“Lower Manhattan is one of the fastest-growing residential neighborhoods in New York City,” **David Tewksbury**, CEO and co-founder of Chelsea Piers, said in a statement. “Our club at 250 Water Street will be expansive — full of light, beautiful indoor and outdoor spaces, as well as a new home to showcase our best-in-class fitness programming, which we know the community will love.”

**Seaport Entertainment Group** bought the full-block, 1-acre property for $180 million in 2018 and later spent $40 million on air rights before spinning off from **Howard Hughes Holdings**, taking a loss on the sale to Tavros after years of pushback from local groups hoping the preserve the neighborhood in its current state.

Activists even went as far as to take Howard Hughes to court in May 2024 to block the development, which at the time envisioned only 270 residential units.

Chelsea Piers Fitness has been expanding throughout the city, most recently with a 47,000-square-foot ground-floor retail lease at **TF Cornerstone**’s **135 East 57th Street** back in November 2025.

## Entities

- Fitness (sector)
- Commercial Observer (publication)
- retail expansion (topic)
- lease agreement (topic)
- Mark Hallum (person)
- fitness studio (topic)
- mixed-use development (topic)
- Chelsea Piers Fitness (company)
- Real Estate Board of New York (regulator)
- Seaport Entertainment Group (company)
- TF Cornerstone (company)
- Tavros (company)

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Originally reported by Mark Hallum, Commercial Observer (https://commercialobserver.com/2026/05/chelsea-piers-fitness-lease-tavros-250-water-street/). Summarized by Burnaze (https://burnaze.com/article/f967f98d-6dca-4842-96df-b44cb236c12e).