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February 19, 2021 recently reported that CycleBar has taken space at 51 Astor Place in Manhattan. Stroock represented landlord Edward J. Minskoff Equities in the lease transaction and in prior tenant Flywheel’s bankruptcy proceedings in an effort to expedite the termination of Flywheel’s lease. 

The article notes that the deal is unique because it may be one of the first instances of a commercial tenant in New York City declaring bankruptcy in the wake of COVID-19, having its lease terminated by rejection in bankruptcy court, and having the space re-let to a new tenant in a coordinated deal. 

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