RIPCO Real Estate, Brooklyn’s Most Active Brokerage Firm, Spearheads Transaction on Behalf of RXR; Brings Much-Sought-After Fitness Concept to Serve as Property’s Anchor

RIPCO Real Estate (RIPCO)today announced that Fitness Factory Health Club (Fitness Factory) has signed a lease for 18,000 square feet at RXR Realty’s 475 Clermont, the firm’s luxury residential building located at the nexus of Brooklyn’s Clinton Hill and Fort Greene neighborhoods. A team of RIPCO brokerage professionals, led by Jason Pennington, Andrew Clemens, Benjamin Weiner and Jessica Hedrington, represented RXR in the 10-year lease.

“Fitness Factory represents a major piece to our puzzle at 475 Clermont and is the ideal anchor tenant as we officially kick off our leasing program at the property,” said Mr. Pennington, a Managing Partner at RIPCO. “As Fort Greene and Clinton Hill further evolve into seven-day neighborhoods, we are in search of best-in-class retail tenants that will complement one another and best serve the diverse group of people living in-and-around these communities.”

Fitness Factory, with six locations throughout New Jersey and New York, is slated to open its doors at 475 Clermont in mid-2020. The full-service fitness center will feature weight and circuit training equipment, spa amenities, specialty classes and personal training services. From a design standpoint, special care will be taken to enhance the functionality of the space for members seeking personal, dedicated attention.

The 18,000-square-foot lease represents the first retail lease at 475 Clermont, and with approximately 17,000 square feet of retail space available for lease, RIPCO is focused on attracting like-minded retailers to the property.

In recent years, Clinton Hill and Prospect Heights have experienced a 180-degree development renaissance as former parking lots and train stations gave way to residential properties, repositioned office buildings and the ambitious re-imaging of the nearby Brooklyn Navy Yard, which is now home to Wegmans’ first New York City location. Coupled with the already popular Fort Greene and Prospect Parks, the Brooklyn Museum, Brooklyn Botanic Garden, Barclays Center and City Point, the area is one of the most sought-after destinations in New York City.

475 Clermont, which rises 12 stories and includes 363 spacious units ranging from studios to two-bedrooms, was designed by Aufgang Architects, with interiors by Durukan Design. The building features a 24-hour attended lobby with custom artwork by Mr. Brainwash; landscaped courtyard featuring a 90-foot custom mural by artist Mona Caron; business center; indoor/outdoor children’s playroom; indoor/outdoor fitness center; yoga studio; pet spa; and rooftop terrace and lounge featuring an outdoor movie screen, grilling stations, dining areas, bocce court and game tables. Private resident storage, bike storage and onsite parking are available.

To inquire about additional retail opportunities and spaces are available for lease at 475 Clermont, please visit www.ripcony.com for more information.

About RIPCO Real Estate

RIPCO Real Estate, founded in 1991, is the premier retail brokerage firm in the New York metropolitan area. The firm has leased millions of square feet of retail space on behalf of major landlords and developers, as well as nationally and internationally renowned retailers. RIPCO prides itself on local market expertise with a national reach and employs approximately 70 brokers across offices in New York City, Brooklyn, New Jersey, Long Island and Connecticut.