Good Old Days, West Side of Union Sq.

What might be next in the Virgin Megastore space? The New York Post has these rumors:

RELATED Cos. is negotiating with several tenants at One Union Square South for the Virgin Megastore space, sources said. The chain, which was purchased by Related and Vornado Realty Trust in 2007, is closing the store in late May or early June. All US-based Virgin Megastores are due to shut down by the summer.

Related controls the Union Square outlet, while Vornado handles the one in Times Square, which is closing in April to make way for Forever 21, the retailer that signed a megadeal for 100,000 square feet. The two real-estate giants licensed the then 11-unit Virgin chain precisely so they’d be able to control the retail in their buildings.

Sources said the asking rent in Union Square has recently dropped to $15 million per year from $25 million. According to its CoStar Group flyers, Winick Realty is seeking $700 a foot for the 26,000-foot ground floor and $150 a foot for the 31,035-foot lower level. One Union Square South, at 52 E. 14th St., includes the hulking Metronome artwork on the lower north side of the luxury apartment tower that rises from the retail base. Some of the prospective tenants include CVS and Best Buy, which has its eye on the Circuit City space now being controlled by the bankruptcy court.

Last fall, Related signed a letter of intent with Nordstrom Rack for about 40,000 feet. But Nordstrom in the end was reportedly loath to bring its off-price success story into the Big Apple before it snagged an A-plus site for the upscale department store flagship and nixed the Union Square opening. A Nordstrom spokeswoman said, “We will keep looking for a great spot to serve our customers.”

There is also talk that Forever 21 might jump from Vornado’s Whole Foods building at 40-48 E. 14th St., which also hosts Filene’s Basement, and expand into 19,200 feet at One Union Square. The Forever 21 store, which opened right after 9/11, has seven years left on its deal. But a buyout doesn’t make sense in the current economic climate.

…replacing Diesel at the corner of 14th and Union Square West

Next week (September 10 to September 14), Material and equipment deliveries and installation work will continue on all floors. Curtain wall installation on upper floors will continue. Curtain wall installation on the lower floors will proceed along 5th ave inside the construction site.

The following week (September 17 to September 21) Material and equipment deliveries and installation work will continue on all floors. Curtain wall installation will continue on all floors. Curtain wall installation on the lower floors will proceed along 5th ave inside the construction site.

This weekend the site will be open on Saturday, September 8th for superstructure related activities and curtain wall installation between the work hours of 7AM and 5PM as permitted by the City. Con Ed is on site working on the building but is not in any of the streets.

The Union Square Night Market by Urbanspace returns to the South Plaza, featuring over 35 rotating local food vendors serving a diverse mix of flavors and summer fun.

Open from 12 p.m. to 10 p.m., it’s the perfect place to enjoy bold bites, good company, and the energy of summer evenings.

2025 Schedule:

• Thursdays & Fridays: Now through June 27

• Thursdays only: July 24 – August 7

• Thursdays & Fridays: September 4 – October 17

Travel back to 1901 and take a look at the 4,5,6 train being built up the east side of Union Square. Remarkable images! You can even see the statue of George Washington at bottom center of the first photo. This was his original location, at the intersection of 4th Ave. and 14th St., before he was moved into the park itself.

Here’s what’s happening in their building as described in a memo sent to the university community:

June 22, 2009
From President Bob Kerrey and Provost Tim Marshall Abatement of Hazardous Materials in the University Center at 65 5thAvenue This is a follow-up to the recent announcement of the closing of the 65Fifth Avenue. There were some questions from members of our communityand we thought it would be helpful to provide additional information. The closing occurred because our university’s trustees have approvedthe removal and abatement of hazardous materials in the building.Several Board members with considerable New York City constructionexperience recommended that abatement work be started in advance of thedecision to build since it is highly likely that decision will be madethis fall. Abatement of hazardous material will shorten the duration ofthe construction of the University Center project. However, becauseabatement results in stripping the interior of the building of allfinishes, it was necessary to close the building in order to performthis work. Please note that the abatement work would have beennecessary regardless of future building plans. The Board had previously authorized the production of schematicdrawings for a new building. This authorization has led to extensivecollaboration with the newly created University Facilities Committee.This committee is working closely with the architect, and severalsubcommittees have been formed to offer input around particular kinds ofspaces. This input will likely lead to a final Board decision in the fall toproceed with construction of the Fifth Avenue University Center. Thisdecision will depend upon evaluation of new construction cost estimates,of actual enrollment results, and of financing. We recognize that the closing of the 65th Fifth Avenue has resulted insignificant dislocation of student activities. We have accommodated someof these activities with new construction in Arnhold Hall on 13thStreet. However, more needs to be done. We are pursuing severalpromising real estate opportunities that give us confidence that we willbe able to provide the new amenities this year. In the unlikely event adecision is made not to proceed with the new construction, or to delayconstruction for a long period of time, the trustees will review alloptions for dealing with the existing building at 65 Fifth Avenue. We expect that a schedule of construction activities at the site can beannounced within a couple of weeks, when we expect the abatement anddemolition contracts approved by the trustees to be finalized. Afterworking with the University Facilities Committee to reach broadconsensus about the program for the new building, we will continue tomeet throughout the summer with the Committee and with other user groupsin developing the schematic design. We are also working to set upvenues for regular communication to the entire University communityabout the project’s progress.