NYC’s Union Square seeing frenzy for workplace, – Business News
The deliberate opening of DearU’s Bubble House New York at 24 Union Square East — a practically 10,000 square-foot signing we first reported in June — was the mere tip of the iceberg within the neighborhood’s industrial growth.
The Union Square Partnership business-improvement district experiences a breathtaking workplace and retail leasing frenzy within the blocks across the park. The BID’s territory runs alongside thirteenth and 14th streets between First and Sixth avenues in addition to on Union Square East and West from 14th Street to the south facet of 18th Street.
On the workplace entrance, vacancies fell to a scant 12.9% in comparison with the general Manhattan market’s roughly 15% vacancies.
The Union Square Partnership has reported a breathtaking workplace and retail leasing frenzy within the space surrounding the park. kovgabor79 – stock.adobe.com
Recent offers introduced a number of prime buildings to 100% full, together with 853 Broadway, 841 Broadway and 122 Fifth Ave. New leases included nonprofit Robin Hood’s 53,000 sq. ft at 841 Broadway; tech firm Profound’s 30,000 sq. ft at 5-9 Union Square West; and eBay’s 28,000 sq. ft at 122 Fifth Ave.
Retail leases resembling Uniqlo’s 19,000 square-feet flagship at 860 Broadway and Nespresso’s 13,000 square-foot dedication at 85 Fifth Ave. have been signed because the partnership celebrated main space milestones. Among them are the Union Square Greenmarket’s fifth decade, the Strand Bookstore’s approaching 100-year anniversary in 2027, and Paragon Sports’ 63-year presence at 867 Broadway.
The Strand Bookstore is approaching its one hundredth yr in Union Square. google maps
Storefronts within the BID’s territory are 90.1% leased. Broadway between seventeenth and 18th streets is full for the primary time because the block turned a pedestrian mall in 2024.
And of course, the dramatic decline in crime made once-risky Union Square Park an oasis day and evening.
