Former Bear Stearns Broker Expands Yoga Business

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On May 31, 2011, Yoga Vida will launch a new studio at 666 Broadway. The 8,000-square foot location is the second studio for its unlikely owner Mike Patton, a former Bear Stearns futures broker.

On May 31, 2011, Yoga Vida, http://www.yogavidanyc.com, will launch a new studio at 666 Broadway, on the corner of Broadway and Bond Street.

The 8,000-square foot studio will open with two large, sun-soaked practice rooms and one intimate room for Restorative, Basics and Advanced Yoga classes. Yoga Vida, known for its affordable, accessible Yoga classes, will continue to offer $10 drop-in classes, which are only $5 for students. In addition to offering a regular schedule of Vinyasa classes for students of all levels, the studio will also serve as the headquarters for Yoga Vida’s new, highly anticipated Teacher Training Program.

The 666 Broadway location is the second studio for its unlikely owner Mike Patton, a former Bear Stearns futures broker and Princeton hockey player. After the unanticipated collapse of Bear Stearns, Patton spent a year and a half relieving the stress of unemployment in Manhattan’s yoga studios and was inspired to open his own. In January 2010, he opened Yoga Vida at 99 University Place, smack in the middle of the recession.

“When I moved to New York, if you would have told me that five years later I’d have left finance, opened two Yoga studios and committed myself to 12,500 feet of Manhattan office space in Union Square and NoHo for the next five to 10 years, I’d have fallen out of my chair,” he said.

Even during hard times for small businesses, Yoga Vida quickly gained a dedicated following for its high-quality teachers and affordable prices. Only 13 months after he opened the Greenwich Village studio, Patton decided to expand when he found himself turning students away during peak class times.

“Every time I’m working the front desk and see the look on someone’s face being turned away from a yoga class, I feel responsible for continuing to give that person a place to practice quality yoga at an affordable price,” he said.

Opening a second studio is risky, Patton said, but he’s confident the expanded classes, attractive location, and Yoga Vida’s commitment to high-quality, accessible Yoga will introduce Yoga to thousands more New Yorkers, while continuing to thrive as a business.

It’s a risk, he said, he’s willing to take.

“It no longer feels like we’re testing the market, but rather giving the market what it’s asking for,” he said. “Having already seen the transformation in the lives of so many individuals inspired to take their first Yoga class in their life at Yoga Vida, serves as inspiration enough to get up every day and try to bring that opportunity to more and more people.”

Yoga Vida
99 University Place at 12th St.
6th Floor
New York, NY 10003

666 Broadway at Bond St.
3rd Floor
New York, NY 10012

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Hannah Rappleye
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