Equinox will open at one of Oak Row Equities’ mixed-use multifamily projects in Miami’s Edgewater, as it expands in South Florida, The Real Deal has learned.
Equinox preleased 30,700 square feet at the 2600 Biscayne tower at 2600 Biscayne Boulevard, according to representatives for the tenant. The gym is expected to open late next year or early 2027.
Also, the Murphy family’s Coastal Construction, the general contractor for 2600 Biscayne, will move its headquarters to the tower, according to a source. Coastal is now based at 5959 Waterford District Drive in the Waterford Business District near Miami International Airport. Coastal Construction declined to comment.
2600 Biscayne’s commercial space was 50 percent preleased prior to Oak Row starting construction, according to a joining statement from the firm’s David Weitz and Erik Rutter.
The other known tenant at the building is Ferraro Law Firm, which will move into a 28,000-square-foot office from its current space at 600 Brickell Avenue in Miami.
Weitz and Rutter’s Oak Row started developing last year the 41-story tower with 399 apartments and about 187,000 square feet of commercial space. The firm scored a $181 million construction loan last March.
The 2600 Biscayne Equinox will be near the prime neighborhoods of Wynwood, the Miami Design District and Midtown Miami, so it “would satisfy the needs for each of those communities,” in addition to Edgewater, said Jeff Weinhaus, Equinox president and chief development officer.
The club will include a lounge along Biscayne Boulevard, an amenity for Equinox members to work and socialize.
Equinox’s expansion in South Florida will make the tri-county region its third biggest market after New York and Los Angeles, Weinhaus said. South Florida will be “right in the same category as the Bay Area, where we have about the same amount of clubs as South Florida,” he said.
Equinox leased 35,000 square feet at Related Ross’ 575 Rosemary Avenue building in West Palm Beach that’s also home to the 21-story, 322-unit The Laurel apartment tower completed last year. The gym will open in November, according to an Equinox spokesperson.
Last year, billionaire developer Steve Ross carved out New York-based Related Companies’ Southeast U.S. holdings into Related Ross, which largely focuses on West Palm Beach. Related Companies principals are investors in Equinox.
In Boca Raton, Equinox leased 50,500 square feet at the Office Depot headquarters redevelopment project at 6600 North Military Trail. That outpost, which will include outdoor space with a pool, cabanas, cold plunge, hot plunge and padel courts, is expected to open late next year or early 2027, according to the spokesperson.
The Toledano family’s BH Group, the Pérez family’s Related Group and Pebb Enterprises are partially redeveloping the 651,000-square-foot office campus, with an eight-story, 500-unit apartment building and 43,000 square feet of retail and dining.
Equinox also plans a 32,800-square-foot gym in Fort Lauderdale. Weinhaus declined to disclose the address.
The New York-based fitness club is the largest retailer in Manhattan, where it is expanding as well.
Oak Row, which has offices in New York and Miami, has made a splash in South Florida. Oak Row is under a $520 million contract to purchase Aimco’s 4.25-acre Brickell assemblage consisting of the 32-story Brickell Bay Office Tower at 1001 Brickell Bay Drive, and the adjacent 31-story, 357-unit Yacht Club Apartments at 1111 Brickell Bay Drive. The site has redevelopment potential of 3.1 million square feet with several supertalls. If Oak Row uses seller financing for the deal, the price bumps up to $540 million.
Also in Edgewater, the firm and Alex Karakhanian’s Lndmrk Development plan a multifamily tower on the northeast corner of Northeast 29th Street and Northeast Fourth Avenue. Construction is expected to begin early this year.
Last month, Oak Row scored approval from a Miami review board for the 45-story, 526-unit First & Fifth apartment tower at 49 Northwest Fifth Street and 50 Northwest Sixth Street, across the street from Brightline’s MiamiCentral. The site is home to the Salvation Army Citadel building, which will be preserved.
Oak Row is also partnering with L&L Holding Company, Shorenstein Properties and Marcelo Claure’s Miami-based Claure Group on the development of Wynwood Plaza at 95 Northwest 29th Street in Miami with a 12-story, 266,000-square-foot office building; a 509-unit luxury apartment building; 32,000 square feet of indoor and outdoor retail space; and a 26,000-square-foot public plaza.
