The Union Square district’s momentum has only increased since we reported on it four months ago.
As measured by the Union Square Partnership, retail storefront occupancy of 82% in April — a 68% jump over the last quarter of 2024 — has since hit 88.5%, propelled by large recent leases such as Uniqlo’s deal for over 19,000 square feet at 860 Broadway.
More than 17,000 square feet of retail was leased in the second quarter, more than seven times the volume in the second quarter of 2024. Leading the food-and-beverage charge is Time Out Market, which will soon replace Urbanspace with a 10,000 square-foot hall on the ground floor of Zero Irving. It will be a smaller version of the DUMBO original.
Meanwhile, office availability fell to 10.9% compared to 17% in Manhattan overall. Several buildings including Zero Irving, 200 Park Ave. South and 860 Broadway were fully leased.
In what the Partnership calls a “milestone,” Capital One added over 96,000 square feet to its headquarters at 114 Fifth Ave, bringing its Union Square total footprint to 213,500 square feet.
Visits to the neighborhood reached a daily weekday average of 380,000 — or 10,000 more than last year. The 14th Street-Union Square subway station served 65,000 daily riders, 12% more than in 2024.
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