S. Klein on the Square

The Feil Organization announced Maison Kayser will bring its artisanal breads and baked goods to Union Square, signing a 15-year lease at the historic 841 Broadway for its eighth location in Manhattan.

The bakery will occupy 3,000 sq. ft. on the ground and mezzanine floors of the 108,000 sq. ft., eight-level Romanesque building, where COSI used to be.

“The activity in and around Union Square is buzzing, and the demand for this location was extraordinary, allowing us to maximize the income,” states Nicolas Forelli, director of leasing for The Feil Organization.  “While we were marketing this location, we had an overwhelming response from every food concept you can imagine. With its reputation for quality and unique product for this market, Maison Kayser was the best fit for the building and neighborhood.”

Built in 1894, the Romanesque building is located at the intersection of 13th Street just one block from Union Square Park. In the past year, Feil completely renovated the building, restoring the terracotta façade, creating a brass-accented lobby, and installing new elevators and windows.

The whole city is going green! Several New York City Agencies and NYC advocacy groups, as well as USP, have launched a number of efforts to build a more sustainable future for the City of New York. Explore details on NYC’s foam ban, the Manhattan Solid Waste Advisory Board’s new Residential Recycling and Reuse Guidelines, and USP’s recent zero waste and sustainability efforts.

Beginning January 1st, 2019, the City’s Foam Ban goes into effect. This means certain expanded polystyrene (EPS) items will be banned from sale, distribution, or use in New York City, including foam cups, containers, dish ware, and packing peanuts. Business owners can find more information from the Department of Sanitation (DSNY) here, to fully understand the law and get help transitioning to new materials to replace foam products.

Following the announcement of the ban, NYC Mayor Bill de Blasio said, “New York City’s ban on styrofoam is long overdue, and New Yorkers are ready to start using recyclable alternatives. There’s no reason to continue allowing this environmentally unfriendly substance to flood our streets, landfills, and waterways.” USP is eager to see the positive effects this ban will have on our community and the larger NYC area.

The annual shareholder’s meeting will take place on Wednesday June 30th at 7PM at the Seafarers’ and Interational House at 123 East 15th St, second floor.

At the meeting, the Board of Directors will be seeking at least one new member. If you wish to become a candidate for the Board and have your name placed on the ballot, please feel free to provide a short biography of yourself via fax (212) 986-0002 or e-mail to ymartinez@akam.com. The Board will also welcome nominations at the meeting itself.

See it all here. 

Union Square-14th Street has demonstrated incredible resilience during the unprecedented past year. There are strong signs the district will not only continue its
upward trajectory but also thrive as one of the City’s best neighborhoods to live, work, and invest in. In this report, outline the neighborhood’s key advantages and highlight the positive indicators of continued economic growth and success.

Among Union Square’s many advantages is its function as a true “15-minute neighborhood,” with its wealth of local amenities and resources accessible within walking distance or a short bike ride. The availability of public space, in particular, has emerged as an even greater asset this year as Union Square Park and nearby streets and plazas have been key for safe recreation, social activity, and commerce.

New developments across Union Square-14th Street are picking up momentum, introducing a range of transformative projects to the district’s skyline and public realm. Among the exciting projects underway, which include a civic center, two modern residential towers, and a boutique hotel, several projects have recently reached key milestones:
∫ Completion of the landmark restoration of Tammany Hall has introduced a new architectural icon at 44 Union
Square, including office and retail opportunities.
∫ Zero Irving’s Tech Training Center is on track to complete in Spring 2021. The project aims to bring 550 permanent jobs to the area.
∫ The City implemented a dedicated busway, improving access along 14th Street with the rollout of M14 Select Bus Service. In the months following its installation, ridership on the route increased 14% and travel times decreased 24%.
∫ USP unveiled the Union Square-14th Street District Vision Plan, an ambitious proposal that envisions a 33% increase in public space, and significant improvements to district accessibility and the overall pedestrian environment.

Investment in Union Square’s future remains strong, with over $850 million committed to projects across the commercial, residential, and health sectors, totaling over 1 million square feet of new development. Since January 2020, there have been over $500 million in residential sales around Union Square and there are more than 200 residential units in development. We look forward to welcoming our new neighbors to the district soon.

Since January 2020, 33 businesses have opened or plan to open in Union Square, including a mix of eateries, retailers, beauty, and professional services. These include 25 brand new to the district, five that relocated to a new or renovated space within the district, and three that have announced plans to open soon. Looking ahead, we are excited to welcome these new additions, including Rookie and the Urbanspace Food Hallin 2021, and Target in 2023.

With nearly 73,000 residents and 142,000 employees within a 1/2 radius, Union Square remains one of NYC’s most desirable places to live and work.
∫ Its 2:1 employee to residential population makes Union Square a true mixed-use neighborhood, supported by a diverse array of commercial businesses, retail,
and restaurants.
∫ 38.5% of Union Square’s residences are owner-occupied, a number far above Manhattan’s 24%

RESIDENTIAL OVERVIEW
Union Square Manhattan NYC
Total Population 72,928
Housing Units 42,603
Median Asking Rent $4,304
Median Home Value $1,336,014
% Owner Occupied 38.5%
Median Household Income $142,526
Median Age 35
Average Household Size 1.6

Here’s some interesting gossip: “A 50’s-era-themed supper club is slated to open mid-October on 9th Street between 5th and 6th. No live music, but all the Lobster Thermidor, Baked Alaska and old-school cocktails you and your hep date can handle.”

Gothamist reports that Nordstrom is very close to signing on to take over the Virgin Megastore space to install one of its discount Nordstrom Rack stores. Sounds fine, although some bloggers would much rather have a Target there.