Google mogul Eric Schmidt has just pulled the plug on a deal to financially back a planned 25,204-square-foot gym at Aby Rosen and Michael Fuchs’ building 90 Fifth Avenue, Page Six has exclusively learned.
The pumped-up plan for Peak Performance — which had 10,000 square feet in another building in Flatiron with clients including Claire Danes, Anne Hathaway, Jimmy Fallon and Mario Lopez — to take over two floors that formerly housed Forbes has fallen flat.
Peak Performance signed a lease at 90 Fifth Avenue, a “boutique” office building, back in 2014. But it was never revealed that Schmidt — also a regular at the gym — was its primary financial backer.
“A lot of people at Google were big customers,” said a source about the gym, which was founded by trainer Joe Dowdell. “Eric was funding their move to lower Fifth, and Peak moved out [of its old space]. But Eric pulled the plug last week.”
Another source close to the situation explained: “Due to construction and other related issues, the project became no longer economically feasible.” The source added, “Eric wasn’t the sole investor in the project, but he was the primary investor.”
Peak Performance’s former and planned locations were both 15-minute walks from Google’s New York offices in Chelsea.
Rosen’s RFR Realty had been looking to sell 90 Fifth Avenue back in 2013 before Forbes defaulted on its lease, freeing up space on nine floors.
Dowdell has cheered on Schmidt both in the gym and the business world. Commenting on a tech blog post with the title “Eric Schmidt: ‘it’s extremely curious’ that Apple hasn’t yet sued Google,” about the war between Apple and Android manufacturers, Dowdell posted, “My client, like a boss!”
Reps for Schmidt and RFR didn’t comment. Peak’s operations manager didn’t get back to us. The gym’s voice mail (simply calling the space “Peak Perform”) said, “We are currently relocating to 90 Fifth Avenue.” And we noticed a new “Peak Perform” Website says only: “Opening June 1st.”