1. P E L O T O N Q U A D R U P L E S
H Q S PA C E I N C H E L S E A
M AT T H E W A S T R A C H A N :

2. • Peloton, a new cycling
fitness startup, is moving
its headquarters to the
top four floors of a
Normandy Real Estate
Partners-owned Chelsea
office building

3. • The startup is the first tenant to sign at the 12-story, 138,000-
square-foot Class A property at 119-125 West 25th Street,
between Sixth and Seventh avenues

4. • The average asking rents for Class A buildings in Chelsea — in
the Midtown South office market — are around $90 per
square foot, according to Cushman & Wakefield data

5. • According to
therealdeal.com, “Nearly
100,000 square feet are
available for lease at
Normandy’s office
building, including retail
space spanning 7,400
square feet on the
ground floor and 7,800
square feet in the
basement.”

6. • The article goes on to
explain:
• “Earlier this month,
Peloton raised $75
million from fitness-
focused private equity
firm Catterton. The
company, founded in
2012, positions itself as
the more convenient,
less cultish Soulcycle,
where customers buy a
bicycle for about $2,000
with a built-in tablet
computer.”

7. • For more information, please read therealdeal.com’s
article here.

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