Real Estate with a Vision. And a View.
The Parkview story began in 1994 with the founding and rapid expansion of a retail watch and sunglass store concept nationwide, and its subsequent sale to Sunglass Hut (NYSE: LUX). Today, Parkview continues to invest in innovative business concepts such as TMPL Gym by David Barton, which recently sold to Town Sports International (NASDAQ: CLUB), and Proto Homes, a new concept in modular homebuilding.
In 1994, Parkview's Reisner and Weiderpass opened the first Watch World retail store on Bleecker Street in Manhattan's West Village. Within three years, operating solely from personal funds, they had opened an additional 8 stores in the New York City area. For each location, they negotiated favorable lease terms and performed the design and buildout of the space.
After establishing a base of operations in New York City, Reisner and Weiderpass sourced additional funding from DLJ Travelers for a nationwide expansion that began in 1997. In just three years, an additional 110 locations were opened around the country, showing Parkview's ability to negotiate and build over a wide geographic area.
In 2000, Reisner and Weiderpass sold Watch World to then-NASDAQ-listed Sunglass Hut for $20 million. The Watch World cashout provided capital for Parkview's plans to build a new residential tower - Parkview Tower - overlooking Central Park on the site of the old Carnegie Hotel.
In 2015, Parkview's Reisner noticed the space that formerly housed a Bally's Gym in Midtown Manhattan's Worldwide Plaza had been vacant for a few years. At the same time, gym impresario David Barton was looking for a home for his next boutique fitness concept.
Connecting the dots, Reisner put the parties together, negotiated a lease, and invested in the new business. Parkview arranged a gut renovation of the dilapidated three-floor space in just six months, in time for a March 2016 grand opening.
TMPL amenities include a 25-meter saltwater pool with dedicated aqua classes, 20 tons of free weights, digitally programmed equipment, virtual reality cycle studio with immersive 30-foot video wall, steam room and sauna.
Reisner's foresight and ability to get things done paid off. Just two years after launch, the TMPL concept was acquired by NASDAQ-listed Town Sports International, who plan to expand the concept nationwide.