Go here to read today’s New York Times Real Estate section analysis of what’s going on in Union Square. Some interesting facts and figures, including the detail that One Union Square South is only 30 percent sold and that the white-brick Victoria (across 14th St.) recenty added “Union Square” to its name.
From the current issue of The Villager:
When Danny Meyer opened the Union Square Cafe 24 years ago, area rents hovered around $8 per square foot. Today comparable space could rent for up to $400 per square foot.
The business dilemma of astronomical rents was one of the issues under consideration on Mon., Nov. 10, at the Union Square Partnership Fall Forum titled, “Spotlight on Commercial Diversity in Union Square.”
A panel of four experts joined moderator William H. Kelley, the Partnership’s director of economic development, in a roundtable discussion of the area’s commercial landscape.
More than 75 residents and local business owners attended the forum in the Union Square Ballroom, in what one participant described as an attempt to “think outside the box and look forward.”
Kelley explained the motivation behind the forum:
“In its heyday, Union Square had this wonderful gathering of mom-and-pop businesses,” he told The Villager. “Recently, the area has become an international gathering of businesses.”
Forum participants debated if this evolution was an inevitable result of growth or if there were there any tools the Union Square area or even city government could employ to create a more stable mix of large and small businesses.
“I think Union Square is fascinating,” said panelist Larisa Ortiz, of Larisa Ortiz Associates and a co-author of “Real Estate Redevelopment & Reuse.” “It’s a model and a template that other cities have followed,” she said, noting the presence of iconic restaurants and the Greenmarket.
According to an examination of gentrification trends by New York University’s Furman Center for Real Estate and Urban Policy, the number of businesses in the Union Square area rose almost 20 percent from 1990 to 2000, and have grown an additional 8 percent since 2000.
Of those businesses, 11 percent represent food services and “accommodations.” The largest number of retail businesses — 23 percent — are clothing and accessory stores.
Ortiz was concerned how the neighborhood could maintain its character when park-fronting property is privately owned and rents are set by overheated market forces.
“Let’s help interesting speciality business and restaurant spaces on the side streets,” she suggested.
To gauge interest in topics for the forum, the Partnership sent out a questionnaire in September to more than 3,500 local residents and businesses. A question asked what the most important issue facing Union Square is.
The survey drew almost 300 responses. Topping the list of concerns, 43 percent of respondents said pedestrian congestion and safety are of primary importance. Another 24 percent believed addressing the neighborhood’s changing character was paramount. Six percent saw completing reconstruction of the square’s north end as important.
The upscaling of the neighborhood continues as Luke’s Lobster opens its doors on University between 13th and 14th, where Crumbs Bakery used to be. Tasty…but pricey.
The USP says: “We want to hear from you! Our 2025 Community Opinion Survey is now live. Share your feedback, ideas, and opinions to help shape the future of the Union Square-14th Street District. Your responses help us understand the community’s priorities and how we can better serve you. The survey closes 5:00 PM on Thursday, September 18th, 2025 — take it today!”
Here’s the news: “The New York City Water Board voted on Friday morning to approve a 14.5 percent increase for water and sewer rates, the largest increase since 1992. When the new rate is in place on July 1, according to the city’s Independent Budget Office, water rates will have risen a cumulative 77 percent since 2001, and double-digit increases are expected to keep coming for at least a few more years.”
This is one of those uncontrollable costs that bedevil the co-op’s budget every year. The only thing we can do about it: use less water. We’ve already taken steps to examine our infrastructure and make sure we have discovered any sources of waste and leaks. Other than that, it’s all about less consumption.
The great kitchen store Broadway Panhandler on East 8th St. will be closing this spring. Too bad because the store has a long history in the city going back to its original location on Broome Street in Soho. Watch for closing sales.
