Physical Commodities – “Where the powerful go to power-lift”
By David Perry
After having dedicated his life to physical fitness -- at age 19, he placed fourth in a national bodybuilding championship -- John Sitaras became disillusioned as a trainer. "I saw a lot of mistakes," he says. "I wanted a first-class training system." So in November 2006, backed by loyal clients gleaned from his career up until then, he founded the Sitaras Fitness Center, the best place for a workout you don't know about. And that's exactly the point.
Simple in design but scientific in practice, Sitaras's club -- frequented by the likes of the Soros clan and former AmEx chief James D. Robinson III -- is ultra-exclusive. Sitaras has wooed Wall Street titans through good old-fashioned networking and, most importantly, results. "John is serious about dedicating the time you need to achieve the goals you set," says member Rich McGinn, a venture capitalist and general partner at Robinson's RRE Ventures, who heard about Sitaras through a colleague.
Neither a "gym," where medieval-looking pig iron awaits its next victim, nor a "health club" dedicated to the latest quick fix, Sitaras's emporium offers maximum workouts with minimal equipment. He devises regimens unique to each client, based on a three-week assessment that he personally oversees.
Like the workouts, becoming a member isn't exactly a stroll around the Central Park Reservoir. The club has a membership limit of 200, and a background check is required. Handpicked for their dedication, clients are held to their regimens and measured quarterly.
Sitaras takes a personal interest in each of his charges. He's on a first-name basis with everyone and pays almost as much attention to their privacy as their fitness. Discretion is paramount; the center, in Midtown Manhattan, has no sign. Ultimately, Sitaras says, it's about getting his clients healthy -- when people call you a "mover and shaker," after all, they shouldn't be talking about your midsection.
RRE Ventures, a VC firm cofounded by Sitaras devotee James Robinson III and his son, helped RecycleBank, a rewards program that motivates households to recycle, in securing $30 million in Series B funding this April. RecycleBank will use the money to expand in the U.S. and Europe over the next two years.
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