On behalf of Commerz Real, GFP Real Estate, managing agent of 100 Pearl Street, is thrilled to announce that Pickle1 LLC has signed a new ten-year retail lease agreement for 5,060 square feet on the ground floor of 100 Pearl Street in Manhattan’s Financial District.
Expected to open in Summer 2025, Pickle1 will be one of New York City’s premier pickleball clubs, with a light-filled space featuring three professional indoor courts with 24-ft high ceilings and a modern design. The addition of Pickle1 marks a dynamic expansion of the building’s sports offerings, joining the already established OPEN Squash facilities, which moved into the building in 2022.
When open, Pickle1 will be the only purpose-built indoor pickleball club in Lower Manhattan. Pickleball, one of the fastest-growing sports in the country, will bring a fresh energy to 100 Pearl, offering tenants and the surrounding community a new way to stay active, connect, and build a stronger sense of camaraderie among tenants and coworkers.
“This is more than just an amenity—it’s a way to enhance the tenant experience and create a greater bond within our community,” said Maxi-Franziska Olmo Gonzalez, senior asset manager of Commerz Real Americas.
“We are very excited to be opening Pickle1 at 100 Pearl St and to create a club powered by passion and community. Our programming will include hourly court reservations, OpenPlay, leagues, tournaments, clinics and kids’ classes catering to pickleball players of all levels,“ said Michael McClain, Founder and CEO of Pickle1.
Allen Gurevich of GFP Real Estate and Andrew Taub of Newmark represented the owner, Commerz Real, in the transaction; Steven Evans and Emre Bozkurt of Platinum Properties represented the tenant, Pickle1.
Fully redeveloped in 2021 into a downtown trophy asset, 100 Pearl Street is currently 96 percent occupied with long-term leases in place. Tenants include NYC Health + Hospitals, the Securities and Exchange Commission, New York Legal Assistance Group, Alger Asset Management, Open Squash, and The Hungry Pearl food hall. The building continues to redefine the modern workplace by blending business with wellness-focused amenities, further enriching the experience of those who work and visit.
Previously known as 7 Hanover Square, 100 Pearl Street comprises 964,175 square feet. Located between Water and Pearl Streets, the building’s prime downtown location offers unobstructed views on all sides and is easily accessible via public transportation. The building is also adjacent to Stone Street, home to a variety of popular bars and restaurants.
About GFP Real Estate, LLC (Managing Agent of 100 Pearl Street)
Committed to building a better New York since 1952, GFP Real Estate is a vertically integrated owner, operator, property manager and developer of commercial real estate in the New York metropolitan area. With over 57 buildings and more than 13.8 million square feet under ownership, GFPRE’s portfolio includes some of New York’s most iconic real estate assets.
About Commerz Real (Owner of 100 Pearl Street)
Commerz Real is the asset manager for real asset investments of German Commerzbank Group and has over 50 years of international market experience. More than 800 employees manage assets of around 34 billion euros at the Wiesbaden headquarters and 17 other locations and branches in Germany and abroad.The company combines comprehensive know-how in asset management and a broad-based structuring expertise to deliver its signature range of services of fund products focused on tangibles and bespoke financing solutions. The fund spectrum includes the open-ended real estate fund Hausinvest, Germany’s first retail impact fund for real assets Klimavest, institutional investment products as well as entrepreneurial participations in real estate, aircraft, regenerative energy and ships. In its role as leasing company of Commerzbank Group, Commerz Real offers tailored equipment leasing concepts. www.commerzreal.com/en
About Pickle1
Founded by Michael McClain and opening in Summer 2025, Pickle1 is one of New York City’s premier pickleball clubs. Located at 100 Pearl St in the heart of the Financial District, Pickle1 is the only purpose-built indoor pickleball club in Lower Manhattan. With 5,000 sq ft of light-filled space, Pickle1 features 24-ft high ceilings, 3 professional indoor courts and modern design. Sign up at www.pickle1.world to join Pickle1’s waitlist and to get updates as our club progresses towards opening.
