TGI Fridays to Shutter

ByDon

The long-troubled TGI Fridays in Union Square is finally set to close, as the building goes on the market. “Union Square is so hot down there these days with real quality restaurants it just doesn’t compete well,” explains operator Dennis Riese.

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  • A 14th St Resurgence

    ByDon

    The Union Square Partnership reports:

    Amid the broader success of the Union Square area in 2024, the performance of 14th Street between 1st and 6th Avenues stands out as exceptional. This segment alone welcomed 18 new businesses in 2024, including Q4 openings such as Adonis Barbershop, Upperz Café & Bar, Kamisama, and Harlem’s famous soul food restaurant Amy Ruth’s. These family-owned establishments enhance Union Square’s vibrant and diverse retail and food scene.

    Thanks to strong leasing activity this quarter, the storefront vacancy rate along 14th Street between 1st and 6th Avenues has dropped to 9%, with just one available ground-floor listing east of Broadway.

    According to LiveXYZ, this is below the average vacancy rate for Manhattan Business Improvement Districts (BIDs) (16%) and the vacancy rate for the Union Square Partnership BID as a whole (16%).

    Beyond retail growth, investments in residential developments and transit upgrades have modernized 14th Street’s appearance and accessibility at Union Square’s western gateway. The completion of upgrades to the F/L/M/1/2/3 subway station at 6th Avenue has made the station fully accessible, complementing new residential landmarks like FÖRENA (540 6th Avenue) and 101 West 14th Street at the intersection’s northern corners. Meanwhile, construction is underway on a 71-unit condominium at 525 6th Avenue on the southwest corner, poised to complete the transformation of this important intersection.

  • Latest New School Construction Update

    ByDon

    Next week (June 17 to June 21), material and equipment deliveries and installation work will continue on all floors inside the building. We will be working on the new sidewalks around the building on 13th st. as well as taking the sidewalk shed down on 13th st. Additionally we will be working on the roofs of the building.

    The following week (June 24 to June 28), material and equipment deliveries and installation work will continue on all floors as well as sidewalk work.

    This weekend the site will be open on Saturday, June 15th for interior, roof, and sidewalk activities between the work hours of 7AM and 5PM as permitted by the City.

  • Regal 14 Theater Gains Three More Screens But Still Isn’t Open

    ByDon
    After 18 months of remodeling, Regal Union Square in New York was hoping to welcome moviegoers to the theatrical experience of the future.
    The Manhattan branch went through an extensive facelift, changing the 14-screen theater to a 17-screen location. It now includes a panoramic Screen X, as well as an enhanced 4DX experience which combines smell and motion to the filmgoing experience. It’s added a bar, as well as a Lavazza coffee shop downstairs. The building is intended to be one of the flagship experiences in the Regal Cinema’s chain.
    “We’ve had enough of being locked up in our homes, watching movies on handheld devices, TVs,” said Regal Cinemas regional director Andy Stone. “It’s all about going out, socializing, and sharing an experience.”
    It looks like they’ll have to wait a little bit longer. Because of the coronavirus, New York movie theaters are still under orders to remain closed.
    On top of that, the U.S. filmgoing public seems a bit hesitant to return to the movies, even if theaters are given the green light by local governments. Many were hoping that the release of films like The New Mutants and Tenet would kickstart the movie theater business. As of September 28, only New York, North Carolina, and New Mexico have not reopened indoor movie theaters, though some large cities like Los Angeles have kept their theaters shut.
    Regal’s Stone says that for any movies that do release, Regal Union Square and its sister branches are ready to run them for the public. In addition to updating its air filtration system, it has other new safety rules in place, including a requirement to wear masks. Hand sanitizing stations are easily found, and plexiglass dividers have been installed to put a barrier between patron and employee. Its ticket sales system is set up to restrict crowds to meet government requirements on capacity.
    It’s also updated ticket buying so people can scan their tickets themselves on their smartphone. You can also order your popcorn and snacks via an app and pick it up at the end of the counter, eliminating the need to interact with concession employees. Many of these modernizations were in development before the pandemic and ready in time for the age of social distancing.
    “As a business, you know, we really do embrace technology,” Stone explained. “And during this time what it’s done is actually given us that opportunity to work through some of the technological changes that we were looking to implement.”
    In addition to serving cinephiles, Regal is also eager to reopen for the many employees who work at the theaters. The company has had to furlough most of its staff as theaters remain shuttered. Revenue has been down 99 percent year-over-year.
    Stone, who started his own theater career as a concessionist popping popcorn and worked his way up, pointed out his journey is not a unique one. While many teens and young adults work at movie theaters, many chains like Regal have career progression plans which can employ people for life. Closed theaters cut off their livelihood, in addition to the third-party vendors that rely on the movies for business.
    “It’s more than just serving from behind a concession stand and cleaning an auditorium,” he explained.
    He has his fingers crossed that Regal Union Square will be able to open its doors soon.
    “Although there has been a period where we have been starved of our movies, there’s still so much more to come,” Stone said.