Huge New Green Roof in Union Sq.

According to The New School, the terrifying red crane that has been looming over us for months is scheduled for “demobilization” soon. We’ll wait and see when that actually happens.

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.

Allbirds, the shoes that Silicon Valley loves, signed an 8,000-square-foot lease deal with The Bromley Companies at 120-122 Fifth Avenue in the Flatiron District. The clothing and shoe company will be moving into the two-floor space at the Bromley building after The Gap moved out in the summer of 2021 after nearly 30 years. The retail space on West 17th Street and Fifth Avenue will serve as Allbirds’ U.S. flagship store. The sudden vacancy left by The Gap marked the first time in four decades that the retail location had been empty, having been home to the first Barnes & Noble superstore in the nation prior to the clothing store coming to the Flatiron.

New York City’s most iconic holiday market is back. The Union Square Holiday Market by Urbanspace returns this year on Thursday, November 17th with 170+ vendors showcasing a dynamic mix of global cuisines, original art, handcrafted accessories, and more. The market will be open through Saturday, December 24th.

Spiderbands didn’t last, but 305 Fitness, another (better-funded) fitness chain is taking up residence on the ground floor of 14th St. Here’s hoping they keep the volume down.