Remedy Place to Open in New York, Secures $5 Million Investment Round
Los Angeles-based social wellness club Remedy Place is coming to the East Coast.
Having recently announced a brand valuation of $60 million, Remedy Place will open the doors of its second location on Sept. 4, in the heart of the Flatiron District in New York. The club will allow guests to partake in a multitude of holistic health treatments and wellness activities with like-minded individuals.
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“It’s a whole club that’s centered around holistic self care — it’s made to enhance your health and your social life at the same time,” said Dr. Jonathan Leary, founder and chief executive officer of Remedy Place.
To set the venture in motion, Remedy Place tapped its own member base as well as former patients of Leary’s to raise a $5 million bridge round, with investors including DJ and producer Zedd, NFL player Marcedes Lewis and musical group Rüfus Du Sol.
“Almost every single investor, I’ve treated at least once,” said Leary, who worked as a concierge wellness doctor prior to founding Remedy Place in 2019, having received his bachelor’s degree in kinesiology in 2011 and later obtained his doctorate in chiropractic medicine and alternative medicine.
Located at 12 West 21st Street, the two-story, 7,200-square-foot space will offer many of the same features of club’s West Hollywood location — cryotherapy, hyperbaric chambers, infrared sauna suites, lymphatic massage devices, vitamin IVs, sound baths, group meditations and acupuncture.
It will also feature a number of upgrades, including a hydroxy therapy offering for the first time, breathwork ice bath classes that were a hit in testing at the West Hollywood club and increased availability across all services, thanks to the bigger space.
“It’s not like a spa where you isolate yourself in each room,” Leary said. “Everything there in the club, you can do by yourself, but we’d actually rather you do with others, as a substitute for what you normally do to socialize.”
Citing the detrimental effects of loneliness to people’s overall health as one reason for the club’s emphasis on wellness as a means to community, Leary envisions Remedy Place as a replacement for more traditional avenues for socializing.
“This is where you’d have a day where you meet your girlfriends after work to unwind,” Leary said. “It’s what you would do instead of a ‘Sunday Funday’ or something larger, like an event space, or your birthday or a corporate outing.”
The Remedy Place bar serves non-alcoholic beverages, often teaming up with non-alcoholic spirit brands for happy hours, “We needed to create a club that is temptation and toxin-free, but also enhances people’s health and social life at the same time,” Leary said.
The New York club will accept 300 members, 75 to 100 of whom are “founding members,” invited by Leary and his team to join. The remaining available memberships will be up for grabs via applications open to the public.
Just like the L.A. club, which has 200 members, the club will also be open to non-members, who can book appointments and pay per reservation. Said Leary, “Because we cap memberships, we make a large majority of our revenue from non-members, because they’re paying full rates and also the volume is just higher.”
While non-members pay full price for each service, members get priority booking and a lump sum of services at a discounted price, with a monthly membership at the New York club costing $600 and an all-inclusive membership costing $2,750 per month, in comparison to $500 and $2,500 at the L.A. club, respectively.
The membership application form consists of questions regarding an applicant’s stressors, occupation, life goals and lifestyle habits. As far as what makes an appealing applicant, Leary said he seeks out those who have the ability, whether by social or job status, have the ability to influence others to follow suit in pursuing holistic health remedies.
“If our job is to change health care, we really need leaders in all industries,” Leary said. “That is how we can reach a bigger audience.”
Among those who frequent Remedy Place in L.A. are the Kardashian clan, Shaun White, Rita Ora and others.
While the proceeds of this investment round are going toward opening the New York club, other locations are already funded and in the works, to be revealed in the future, he said.
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