Business on the Increase Around Union Square

It’s coming this fall, as part of a revamp once the Q train is redirected onto the new 2nd Ave. line.

From the NY Post:

University Place is about to get a new, fun restaurant: the first New York outpost of Vapiano, a German-based chain of some 30 casual Italian eateries, which will open soon at 113 University at 13th Street. A Newmark Knight Frank team including Jeffrey Roseman repped the tenant and a Newmark team also repped the landlord, the Amalgamated Lithographers Union. Vapiano has locations in six other US cities. In Manhattan, it will have about 7,000 square feet on two levels in a long-vacant space. The asking rent was $200 per square foot. The chain, which calls itself a “fuel stop for grown-ups,” serves inexpensive antipasti, salads, pasta and pizza prepared on-site as customers watch. (Many dishes are priced under $10, according to Vapiano’s Web site). The new place also promises a full bar and “lively happy-hour scene.” Roseman chuckled, “It’s been described as a fast-casual cross between Mario Batali and Chipotle with uber-style.”

Have a look at Vapiano.

Here’s a great article about the Union Square Holiday market.

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.

No foul play is suspected in the death of the woman who fell down her Union Square building’s trash chute in July, the city’s Office of the Chief Medical Examiner said on December 19. The body of Lara Prychodko, 48, was discovered by a building maintenance worker inside the trash compactor at Zeckendorf Towers on the corner of Irving Place and E. 15th Street on July 10, police said. Authorities believe the woman dropped 27-stories in the chute. Her body was discovered “crushed from multiple angles” in the compactor. It was not immediately clear if Prychodko’s death was accidental or a homicide, authorities said at the time.

Here’s this fall’s guide to theater in the neighborhood.