The Core Club, a members-only private club founded in New York City, has signed a 20-year lease for 45,000 square feet at the Transamerica Pyramid, sources familiar with the deal told the Business Times.
The San Francisco location will offer member suites, a restaurant, a gym, outdoor space and feature a personalized skin care program called the Dangene Institute, sources told me.
Its lease at the Transamerica Pyramid, 600 Montgomery St. in the Financial District, spans three floors at the base of the iconic building. The location will open in 2023, sources say.
Core: declined to comment.
As of 2016, the club’s initial membership fee was $50,000 and annual dues were $17,000, business news site entrepreneur.com reported at the time.
The 523,000-square-foot Transamerica Pyramid sold to New York City-based investor Shvo and its partners for $650 million in October of 2020. Shvo Chairman and CEO Michael Shvotold my colleague Laura Waxmann in April that the company and its partners, Deutsche Bank and German pension fund BVK, were seeking an architect to orchestrate planned updates to the building. Shvo declined to comment.
Core:’s San Francisco lease marks its second at a property owned by Shvo; the club is reportedly in the process of moving its Manhattan location to the Coca-Cola building at 711 Fifth Ave. Core: signed a 20-year lease for 60,000 square feet there, real estate news website the Real Deal reported. Shvo and a business partner purchased a majority stake in that building in 2019.