Union Square district’s momentum has only – Business News
The Union Square district’s momentum has only elevated since we reported on it 4 months in the past.
As measured by the Union Square Partnership, retail storefront occupancy of 82% in April — a 68% soar over the past quarter of 2024 — has since hit 88.5%, propelled by massive latest leases akin to Uniqlo’s deal for over 19,000 sq. toes at 860 Broadway.
More than 17,000 sq. toes of retail was leased within the second quarter, more than seven instances the amount within the second quarter of 2024. Leading the food-and-beverage charge is Time Out Market, which is able to quickly substitute Urbanspace with a 10,000 square-foot corridor on the ground flooring of Zero Irving. It can be a smaller model of the DUMBO authentic.
Retail storefront occupancy within the Union Square district reached 82% in April — a 68% soar over 2024’s final quarter. Google Maps
Meanwhile, workplace availability fell to 10.9% in comparison with 17% in Manhattan total. Several buildings together with Zero Irving, 200 Park Ave. South and 860 Broadway have been totally leased.
In what the Partnership calls a “milestone,” Capital One added over 96,000 sq. toes to its headquarters at 114 Fifth Ave, bringing its Union Square whole footprint to 213,500 sq. toes.
Visits to the neighborhood reached a day by day weekday average of 380,000 — or 10,000 more than final yr. The 14th Street-Union Square subway station served 65,000 day by day riders, 12% more than in 2024.
