Virgin Will Become Nordstrom Rack

ByDon

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.

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  • The Annual Union Square Partnership Commercial Update

    ByDon

    Union Square is bustling, with robust foot traffic recovery, a strong roster of new retail and office tenants, and new mixed-use residential developments in the pipeline.

    Key data points from the last 12 months highlight the district’s strengths:

    1.1M SF of office
    space leased in the
    last 12 months

    58K+ average daily
    riders at Union Square
    -14th Street Station

    13% higher visitor
    activity on Greenmarket
    days in USQ

    370K average daily
    weekday trips to the
    Union Square area

    78K+ SF of ground floor
    retail space leased in
    the last 12 months

    Visitor traffic reached
    a high of 109% recovery
    over January 2020

    DISTRICT TRENDS

    USQ IS THRIVING
    ∫ Union Square’s residents have strong spending power,
    with average household incomes nearly 75% higher than the
    Manhattan average.
    ∫ By the end of 2023, visitor traffic hit 109% of January 2020
    levels, driven by Union Square’s vibrant mix of uses and the
    steady return of office workers.
    ∫ Leading employers choose Union Square, and the biggest
    new leases represent finance, technology, hospitality, and
    fin-tech.
    ∫ Union Square grew as a job center, with its workforce
    increasing by 12% since 2023 to reach 168K employees.
    The tech and innovation sector remains strong, with over 45
    companies located in the area.
    ∫ 43 new businesses opened in the past year, 60% of which
    are food and beverage establishments. Indicating a return to
    in-person dining, the number of new sit-down restaurants in
    the district increased by 25% over the number that opened in
    the previous year.

  • Goodbye Garden of Eden, Hello Atherea

    ByDon

    Garden of Eden is gone and missed. In its place will come Atherea, a more organic, health-food focused market and cafe. Does that mean $$$$? Probably. Here’s what they say:

    “At Atherea Natural Market, we are leaders in the niche of premium organic products and your trusted resource for individuals who are dedicated to integrating health and sustainability into their lifestyles. At Atherea Natural Market, we understand that food is foundational to our well-being. Our rigorously curated selection encompasses awide array of local organic and NON-GMO fruits and vegetables, nutrient-dense pantry essentials, organic prepared foods andcatering, along with our third party tested vitamins and supplements. We partner exclusively with local NYS organic farmers who strictly adhere to biodynamic and regenerative farming standards that enhance the health of our ecosystems. This dedication ensures that our customers have access to products that are not only organic and NON-GMO but also responsibly sourced, harvested, and sold within our market.”
    Yep, sounds $$$$

  • New Escalator in Subway Station

    ByDon

    The MTA is still chipping away at improvements on the L train, having announced a new escalator coming into service at the Union Square station to service the 19,000 pre-pandemic riders that shuffle on and off the platform every hour during the week.

    This installation, designed to ease congestion through the busy interchange, follows elevators paired with a new entrance to the L train’s First Avenue station near Avenue A and switch replacements on the 4-5-6 near Union Square in recent months.

    These improvements were funded by the MTA prior to the financial crisis they currently face due to COVID-19.

    “This new escalator is another achievement for the larger L project team that, delivered that huge project early and below budget,” MTA Chief Development Officer Janno Lieber said. “Even in the midst of the COVID-19 pandemic we’re using innovative strategies to deliver customer improvements faster and at lower cost than ever before.”

    Judy McClain, Chief of Operations Planning at New York City Transit, says that because the L train platform at this location is one of the most congested during pre-pandemic levels of ridership the escalator is one of the fastest in subway system; it can move up to 92 people per minute.