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Wall Street analysts are crunching the Manhattan-based company's numbers for a possible stock offering of the upscale muscle emporium...the company is stepping up its expansion plans to open 11 new clubs this year in cities that include Miami, Los Angeles, San Francisco, and Chicago, while adding three more fitness centers in the New York area.

"We will have over 35 clubs by 2006," said club spokeswoman Judy Taylor.

The club, which is frequented by celebrities including Will Smith, Madonna, Nicole Kidman, Robert Downey Jr., Lenny Kravitz and Paris Hilton, has nearly 75,000 members nationwide.

It's flagship club at the Time Warner Center in New York, which covers 41,000 square feet, features a separate "E" training facility that costs $24,500 annually, where members gain admittance by a retinal eye scan.

"With the continuing demand for an upscale product and the desire to live actively longer, the growth opportunities are extensive."

The original Equinox club was opened in 1991 by fitness guru Danny Errico and his family at 76th Street and Amsterdam Avenue. Spevak, a former executive at Chelsea Piers sports complex, joined the company in January 1999, when Equinox had five clubs. Spevak helped oversee the opening of five additional fitness centers before spearheading a management buyout of the Errico family's controlling interest in the following year.