Wall Street Journal Analyzes Booming University Place

The Wall Street Journal has a lot to say about what’s happening in our neighborhood. For example: ““I think the area was quite spectacular and bohemian to begin with, but it’s becoming a bit more adult,” said Madeline Hult Elghanayan, a broker at Douglas Elliman Real Estate. “You now see a new, luxury-oriented clientele that’s looking for places to live in this immediate area.“

 

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  • 65 University Place Is Built Like a Brick ———

    65 University Place, between East 10th and 11th Streets, is very much on the rise, with its pricey 28 residential units above. The project represents Indian-based developer Bsafal’s first foray into the United States. The firm, in partnership with Argo Real Estate, purchased the site for $30 million in July 2019 and in February 2021, demolition permits were filed to take down the nondescript four-story commercial building at 64-66 University Place. While the offices on upper floors were long vacant, the ground-floor retail tenant, gourmet grocer Agata & Valentina, had announced plans to close following a dramatic rent increase at the end of 2019.
    While designer Kohn Pedersen Fox‘s New York City portfolio includes such skyscrapers as Two Waterline Square and 111 Murray Street, the new building is rising to a more moderate scale of 125 feet high. Renderings depict a context-sensitive structure that holds University Place’s strong streetwall and faces its main facade with oversized arched windows framed by corbelled brickwork.
    One can only guess at what the condo prices will be.
  • Results from Latest Union Square Partnership Survey

    USP received valuable feedback on streetscape elements and public space amenities around the neighborhood, including priorities for infrastructure improvements on surrounding streets and within Union Square Park.

    Street trees (91%) and City Benches (87%) received the highest rates of satisfaction among City-operated elements, and seasonal plantings (95%) and bistro tables + chairs (92%) received the highest rates among USP-operated amenities. Respondents expressed a desire for additional trees and seating districtwide, as well as bike racks, protected bus shelters, and investments in the park to enhance landscaping, lighting, public restrooms, and the dog run.

    The survey also revealed top priorities for public realm investments, which align with the Union Square-14th Street District Vision Plan. The transportation improvements rated with the highest level of importance include safer pedestrian crossings (97%), pedestrian streets (92%), and an ADA-accessible subway (87%). 90% of respondents would like Street Seats implemented around the district. USP is incorporating this feedback into the next phases of Vision Plan planning and design efforts.

  • Latest Construction Update: More of the Same

    From The New School:

    Next week (September 19 to September 23), Contractors will continue to excavate earth and rock, and load out material. Installation of bracing rakers and line drilling will progress as well. Concrete foundation walls around the perimeter of the site and slab on grade work will continue. Interior core foundation work and underground electrical and plumbing will proceed. Contractors will be removing the interior earth ramp. DOT approved street connections to underground utilities on Fifth Avenue will progress. A small cherry picker crane will arrive on site next week, and be stationed inside the Fifth Avenue fence. This crane will remain on site for approximately two months.

    The following week (September 26 to September 30 ), we will continue with concrete foundation walls and slabs, line drilling, rock excavation, loading out, interior core foundation work, street utility connections on Fifth Avenue, and underground electrical and plumbing.

    DEP continues to repair the water main along 13th Street. As part of this work, the DEP may periodically shut water service off. This work is out of our control.

    The site will be open on Saturday, September 17th. Work hours are between 9AM and 5PM as permitted by the City. To control noise levels, work activities will be limited to the placement of formwork, plumbing and electrical work, site utility connections, waterproofing and rebar for concrete placement, and the installation of walers and braces. There will be no rock excavation, rock chopping, or hauling on Saturday.