Peloton Moves HQ, Expanding Six Times in Size to 312,000 SF

NEW YORK CITY—Peloton is moving its corporate headquarters from 125 W. 25th St. to Hudson Commons at 441 Ninth Ave., in early 2020. The fitness company, which gained recognition for its online classes and its indoor bicycle and treadmill, will leave its 50,000 square-foot space to occupy 312,000 square feet in the 700,000 square-foot complex.

Currently, its headquarters are located at W. 25th Street, between Sixth and Seventh avenues. Moving further west to Ninth Avenue between W. 34th and W. 35th streets, Peloton will be close to Hudson Yards and the Penn Station and Moynihan Station transit hubs.

It will anchor the Cove Property Group redevelopment, occupying the fourth through the 10th floors, plus a 13,000 square-foot basement. The new headquarters will be near the 35,000 square-foot Peloton Studios, its flagship production operations and multi-studio space, scheduled to open at Five Manhattan West in early 2020. That deal was recognized as REBNY’s Most Ingenious Retail Deal of the Year 2018.

“New York City is where Peloton started, and it will continue to be our home as we scale our business globally,” says John Foley, Peloton co-founder and CEO. “For a long time, New York was considered to be an afterthought for tech start-ups, but it’s now the second highest performing startup ecosystem in the world.”

The company offers classes, live in studios or through more than 4,000 on-demand videos, available 24-hours a day. Foley notes that his company’s brand combines fitness, technology and media, and New York City is rich in talent in all three industries. He also states while deepening its footprint in the city, Peloton is committed to contributing to the local economy. The New York-based company employs more than 1,000 people across the US, Canada and the UK, in corporate, studio, retail and production operations.

Kevin Hoo, Cove’s co-founder and managing partner, says Hudson Commons was conceived with creativity and entrepreneurialism in mind, offering unique space, designed to foster working environments for today’s generation. “Peloton’s ethos is a fantastic match for that of Hudson Commons, and we are very excited for the world-class space they will soon call home.” says Hoo. The new space will be six times larger than Peloton’s current corporate office.

In this latest deal, Peloton was represented by Newmark Knight Frank’s Benjamin Birnbaum and Ben Shapiro. The CBRE team of Stephen Siegel, Evan Haskell, Paul Haskin, James Ackerson and Benjamin Joseph represented Cove Property Group.