CIM Secures Private Family Club at 50 Columbia Heights

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Could family-friendly private clubs become the next big trend in New York City residential real estate? The CIM Group wants to find out.

The landlord signed Little Big Hospitality to a 45,000-square-foot lease at 50 Columbia Heights in Brooklyn Heights, the Commercial Observer reported. The firm will use the space to launch The Beginning Clubhouse, set to open next summer.

Members of the family-oriented club will receive curated programming and classes for children, childcare, food and beverage options, coworking spaces and fitness and wellness amenities.

“Our vision for The Beginning Clubhouse fills the desire for families to enjoy a private club experience,” Michael Schoen, founder and chief executive officer of Little Big Hospitality, said in a statement.

The company’s website describes The Beginning Clubhouse as a “flagship” project; the homepage suggests it may be the only project at the moment. There’s an application to join the waiting list for membership, but no information is available on the cost to families.

Details of the lease were not disclosed. The average asking rent for retail space in the neighborhood ranges anywhere from $80 to $200 per square foot, according to the Real Estate Board of New York.

Savitt Partners’ Marc Schoen represented the tenant in lease negotiations. Newmark’s Peter Whitenack, Mai Shachi and Andrew Connolly represented the landlord.

CIM acquired the Brooklyn Heights building in 2016 for $340 million, according to Commercial Property Executive. It received a $245 million permanent loan from JPMorgan Chase in April.

Family membership clubs appear to be a growing draw for neighborhoods in the city.

At the start of the year, Cocoon opened a 14,000-square-foot location on the Upper West Side, its second spot in the city. It signed a 12-year lease with an asking rent of $110 per square foot at World Wide Holdings 408 Columbus Avenue, the Commercial Observer reported.

— Holden Walter-Warner