LIFE TIME SIGNS LEASE AT 175 THIRD STREET, THE NEWEST DEVELOPMENT IN CHARNEY COMPANIES AND TAVROS' GOWANUS WHARF

Rhea-AI Summary

Life Time (NYSE: LTH) signed a lease for a new athletic country club at 175 Third Street in Gowanus, Brooklyn, part of the Gowanus Wharf campus developed by Charney Companies and Tavros. The club will span more than 85,000 square feet of indoor and outdoor space and feature a rooftop year-round beach club with hot and cold pools, saunas, co-ed wet suite, recovery and longevity services, indoor pickleball, coworking, and expanded wellness programming.

175 Third Street will be the largest building in Gowanus at approximately 1.1 million square feet with about 1,100 residences; the campus will total over 2.2 million square feet and over 2,200 residences when complete. A consumer waitlist will be established for membership interest.

Insights

Real Estate & Retail Leasing Analyst

Life Time signed a large lease at 175 Third Street, anchoring the Gowanus Wharf development and adding an 85,000+ sq ft destination club.

Life Time will occupy more than 85,000 square feet at 175 Third Street, part of the Gowanus Wharf campus, creating a year-round rooftop amenity and extensive indoor wellness programming that positions the club as an anchor amenity within a 1.1 million square foot, 1,100‑residence building.

The business mechanism is straightforward: the lease converts space into a long‑term revenue stream for the landlord and establishes recurring membership and ancillary spend potential for the operator, while enhancing the project's amenity value. Dependencies include final lease terms, construction timing, and membership ramp; any delay in delivery or material change in the lease could alter the economic outcome.

Watch for construction and opening milestones tied to the campus build schedule and any announced lease commencement date; the club’s launch and membership waitlist activity in the months after Dec 1, 2025 will indicate early demand and activation of the amenity premium for the development.

Planned athletic country club, covering more than 85,000 square feet, will feature year-round rooftop hot and cold pools, indoor co-ed wet suite, coworking, indoor pickleball, and more

BROOKLYN, N.Y., Dec. 1, 2025 /PRNewswire/ -- Life Time (NYSE: LTH), the nation's premier healthy lifestyle brand, today announced plans for a new, expansive athletic country club at 175 Third Street in Gowanus, Brooklyn, part of the four-project campus known as Gowanus Wharf development by Charney Companies and Tavros.

The new Life Time will encompass more than 85,000 square feet of indoor and outdoor space and bring an entirely new experience to the neighborhood with a year-round rooftop beach club for year-round use, including pools for hot and cold use, saunas and a bar. Inside, the club will feature a co-ed wet suite with sauna, steam, red-light and infrared therapies, additional recovery spaces, longevity services, pickleball, coworking lounge space, and the brand's signature mix of health, wellness, and lifestyle programming for those 90 days old to 90+ year, all supported by advanced technologies and premium design.

"The ongoing transformation of Gowanus, alongside its strong connections to Park Slope and Carroll Gardens, makes it one of Brooklyn's most promising and well-positioned neighborhoods, and a place where Life Time is proud to invest," said Parham Javaheri, Life Time Executive Vice President, President of Club Operations, and Chief of Property Development. "Through 175 Third Street, Life Time will deliver a comprehensive wellness experience that is centered on recovery, longevity, and social connection and supports the way residents can choose to live and thrive."

For nearly 34 years, Life Time has focused on healthy living, healthy aging and healthy entertainment with the best people, places, programming and incredible social community for its members. The planned destination will join more than 11 Life Time destinations in New York City including Atlantic Avenue and DUMBO in Brooklyn and upcoming locations opening at The Brooklyn Tower and in Bryant Park in 2026.

"Life Time's national reputation for quality and excellence elevates the experience we're creating at 175 Third Street, and we're proud to welcome them as an iconic anchor," said Rosie Tilley, Head of Development for Charney Companies. "Residents will be thrilled to enjoy the exceptional lifestyle experience that only Life Time's athletic resort can bring – a distinction that sets 175 Third Street apart."

175 Third Street will be the fifth building in Gowanus Wharf, the jointly developed campus by Charney Companies and Tavros Capital. Once completed, 175 Third Street will be the largest building in Gowanus, with approximately 1.1 million square feet and 1,100 residences. Upon completion of the project, Charney and Tavros will have developed over 2.2 million square feet and over 2,200 residences in Gowanus, making them the submarket's most active developer.

"Life Time is a welcomed addition to our Gowanus Wharf campus," added Colin Rankowitz, Partner at Tavros Capital. "Health and wellness are top priorities in all our buildings, and we are thrilled to have Life Time glad to have a partner that aligns with our vision."

Joe Mastromonaco and Colleen Morrissey of Atlantic Retail represented Life Time in this transaction. Atlantic Retail specializes in innovative solutions that position Life Time clubs as the anchor amenity in mixed-use projects including residential, office, hotel, and retail developments throughout the Northeast.

For more information about Life Time in New York City, visit www.lifetime.life/nyc or follow www.instagram.com/lifetime.nyc on Instagram A waitlist will be established for consumers interested in learning more. For more information about Life Time, visit www.lifetime.life, follow on social media at Facebook, Instagram and LinkedIn, or download the complimentary Life Time App.

About Life Time:
Life Time (NYSE: LTH) empowers people to live healthy, happy lives through its more than 185 athletic country clubs across the U.S. and Canada, the complimentary and comprehensive Life Time app featuring its L•AI•C™ AI-powered health companion, and more than 30 iconic athletic events. Serving people ages 90 days to 90+ years, the Life Time ecosystem uniquely delivers healthy living, healthy aging, and healthy entertainment experiences, a range of unique healthy way of life programs, highly trusted LTH nutritional supplements, and more. Recognized as a Great Place to Work^®, the company is committed to upholding an exceptional culture for its 43,000 team members.

About Charney Companies:
Founded in 2013, Charney Companies is a fully integrated real estate development, construction, brokerage, and management firm with a focus on developing, owning, and operating first-class residential and commercial real estate in the New York City Metro area. From ground-up construction to adaptive reuse and value-add repositioning, Charney plays an integral role in all aspects of the development process and leverages the expertise and experience of their principals to deliver superior products to the marketplace and best-in-class returns for their investors. Charney owns, operates, and is under construction on two million square feet throughout Brooklyn and Queens, and has won awards and accommodations from municipal organizations and media outlets for their work over the last 5 years. For more information, visit: https://charneycompanies.com/.

About Tavros:
Tavros is a privately-owned real estate investment management and development firm. They invest on a discretionary basis, with a strong focus on New York City, and a global investor base of family offices, trusts, high net worth individuals, and institutions. Core to the Tavros discipline is the quality of its partnerships with tenants, investors, and lenders. As an owner and property manager, Tavros aims to ensure a positive experience for its tenants through attention to detail and a focus on quality of life.

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SOURCE Life Time, Inc.

FAQ

What did Life Time (LTH) announce on December 1, 2025 about 175 Third Street?

Life Time announced it signed a lease to open an athletic country club spanning more than 85,000 sq ft at 175 Third Street in Gowanus, Brooklyn.

What amenities will the new Life Time (LTH) club at 175 Third Street include?

Planned amenities include a year-round rooftop beach club with hot and cold pools, saunas, co-ed wet suite, recovery and longevity services, indoor pickleball, and coworking space.

How large is the 175 Third Street building and how many residences will it contain?

175 Third Street is projected to be approximately 1.1 million sq ft with about 1,100 residences when completed.

Who are the developers of the Gowanus Wharf campus where Life Time will locate?

The Gowanus Wharf campus is a joint development by Charney Companies and Tavros Capital.

Will Life Time open other New York City locations near this announcement?

Yes; the company operates more than 11 destinations in New York City and has upcoming locations at The Brooklyn Tower and Bryant Park in 2026.

How can consumers express interest in the new Life Time (LTH) club at 175 Third Street?

A consumer waitlist will be established and interested consumers can visit Life Time's New York City webpage listed in the announcement for more information.