Union Square-14th Street continues to demonstrate incredible resilience with strong signs that 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, we 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 draw of Union Square’s diverse retail, food, culture, health, and entertainment offerings, and Union Square Park, its crown jewel, produced positive outcomes with foot traffic and spending reaching near pre-pandemic levels.
Microsoft has leased 150K sf across 10 floors at The Bromley Companies’ 122 Fifth Avenue. The building is undergoing a complete renovation of its commercial and retail spaces, which also welcomed Allbirds to the ground floor in March 2022.
∫ The Zero Irving Tech Center made headlines as its first commercial tenants, Melio (25K sf), and Sigma (15.5K sf), signed leases in the state-of-the-art building, which is ontrack to open in 2022.
∫ NYU announced plans to relocate the Wagner Graduate School of Public Service to its formerly administrative
office space at 105 East 17th Street. It plans to open to its 864 students and 200+ faculty members in Fall 2024.
∫ Longtime district partner Barnes & Noble unveiled Union Square & Co, the name for a new subsidiary of Sterling
Publishing, further reinforcing the strength of the Union Square brand and neighborhood identity.
∫ Over 80K sf of retail space has been leased since 2020 to national brands, such as Allbirds and Sephora, and
newcomers, such as Rookie and Modern Age, who chose Union Square to locate their flagship storefront.
With over 76,000 residents and 145,000 employees within a 1/2 mile radius, Union Square remains one of NYC’s most desirable places to live and work.
∫ Its 2:1 employee to residential population and significant population density, 24% higher than Manhattan, make Union Square a true mixed-use neighborhood, supported by a diverse array of commercial businesses, retail, and restaurants.
∫ Union Square is comprised of 32.5% owner-occupied
housing, which is well above Manhattan’s 24%.
See the entire report here.
