You Can’t Afford to Stay at the New Hyatt Union Square Hotel

With rooms starting at $529 (rack rate), you probably can’t afford to stay at the new Hyatt Union Square when it opens, but perhaps you can check out one of its restaurants or bars:

THE FOURTH: The Fourth, an all-day American Brasserie serving breakfast, lunch, dinner and weekend brunch provides straightforward high-quality items with surprising accents. A chic European style espresso bar, located at its entrance, will offer a comfortable casual place to enjoy our signature coffee – Café Quatrième – pastries and nibbles. Soaring ceilings and wide open-air French doors allow streams of light to fill the room.

SINGL LOUNGE: A full service bar and lounge featuring an extensive single malt scotch selection and single vineyard wine by the glass selection. An exciting place to gather during the day and evening.

KITCHEN AND WINE GALLERY: A vibrant venue for your next gathering. This versatile space features an open kitchen and hearth connecting you and your guests to our team of chefs. This venue features a New York approach to South American Dining combining progressive Latin sounds with warm succulent scents. Glowing wine displays and decanting stations will enhance the beverage aspect of your experience. Cutting edge art throughout the space reflects the art scene of Greenwich Village and Union Square.

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    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.

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    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.