Equinox Gym is Opening at Ben Shaoul’s New 10-Story Condo Building on Orchard Street
As if Hell Square couldn’t die any further, word surfaced today that Equinox is opening a gym on Orchard Street. Specifically within the new Ben Shaoul condo development currently underway at the corner of East Houston.
The New York Post has the story. Apparently the fitness chain will take 30,000 square feet on both the second and third floors of the ten-story tower.
Obviously this is terrible news for the mom-and-pop gym Ludlow Fitness, a local fixture for nine years. The competition is heating up.
Ben Shaoul, along with Real Estate Equities Corp., purchased this gargantuan assemblage of single-story stores for a combined $75 million. This sale was rumored for nearly a year, but didn’t actually close until last month. Shaoul’s acquisition was made possible thanks to a cash injection of $97 million from SL Green.
Demolition of the entire corner is already underway.