The Annual Union Square Partnership Commercial Update

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.

Similar Posts

  • Salt Bae Steak Celebrity Plotting Restaurant on P.A.S.

    Signs announcing “#SaltBae coming soon” have been plastered on a space at 220 Park Avenue South, near Union Square, where a location of Japanese chain Haru Sushi once stood. Salt-sprinkling, internet sensation Nusret Gökçe first brought his famed Turkish steakhouse Nusr-Et to NYC in January, opening a 150-seat restaurant in Midtown.

    But if Gökçe is indeed responsible for this signage, it could be slated for something other than a steakhouse. In February, he announced plans for a new burger chain, to be aptly named Salt Bae, telling the New York Post he’s plotting multiple locations in Manhattan and Brooklyn. The signage on the space says just “saltbae,” accompanied by an illustrated version of the butcher.

    Critics fell harshly on Nusr-Et, finding the theatrical dinner served overpriced, mediocre steaks. Eater’s own Robert Sietsema described the beef as “a little rubbery” and “low on flavor,” although Pete Wells from the Times seems to have enjoyed his dining experience, going as far as calling the steak “terrific.”

    The chain has over a dozen locations around the world, but only one other U.S. location exists in Miami, according to its website.

  • Anti-Gay Chick-Fil-A Replacing Bluewater Grill

    Chick-fil-A is negotiating a lease for a Union Square location formerly occupied by popular restaurant Bluewater Grill. The fast-food chain, known for its chicken sandwiches and controversial support of antigay groups and issues, is likely to open an outpost at 31 Union Square West. Tthe landlord had been asking for nearly $2 million in annual rent, which is what drove Bluewater Grill to close. It isn’t clear whether Chick-fil-A will take the entirety of the roughly 11,000-square-foot vacancy and what the Atlanta-based chain is agreeing to pay in rent.

  • Mayor Declares 14th St. Busway to Be Permanent

    From The Village Sun:

     

    On Monday, coinciding with phase one of the city’s reopening, Mayor de Blasio, in a bold show of support for mass transit, declared that the new 14th St. busway is now permanent.

    “The 14th St. busway, this has been a success by every measure,” de Blasio said. “I said, we’re going to do it, we’re going to see if it works, we’re going to see, do people ride the bus more? Does the bus go faster? Does it have any negative impact on the surrounding streets? And the jury is back. The answer is, it is a clear success. We are making the 14th St. busway permanent.”

    Launched in early October, the 14th St. busway was initially pitched as an 18-month pilot project. The stated plan was that, after the year and a half, the project would be assessed and then a decision made on whether to continue it. Now, however, after only eight months — with more than two of those months falling during the low-traffic COVID-19 lockdown — the busway has been decreed a permanent fixture on 14th St.

    The first-of-its-kind program bans cars from 14th St. between Third and Ninth Aves. between 6 a.m. and 10 p.m. seven days a week. Only buses and trucks are allowed as through traffic during those hours. Cars and taxis can enter the crosstown boulevard, but must then take their first right-hand turn off of it.

    The mayor also announced Monday that the city is now moving forward with creating five more busways around town.

    “I don’t think a busway like 14th St. was successfully achieved previously in city history,” de Blasio said. “The fact that today we’re saying 14th St. is now permanent [as a busway], five more coming in; it is the beginning of something really positive, obviously, between the busways, the Select Bus Service, all of these approaches have been working. And that opens the door to a very positive future for New York City. And this is a great time to do it because we got to give people confidence to come back to mass transit.”

    Streetsblog reported that the new busways will include Fifth Ave. between 57th and 34th Sts.; E. 181st St. from Amsterdam Ave. to Broadway; Main St. between Sanford St. and Northern Boulevard, in Flushing, Queens; Jamaica Ave. from Sutphin Boulevard to 168th St., in Jamaica, Queens; and Jay St. between Fulton and Tillary Sts., in Downtown Brooklyn.

    Along with the new busways, dedicated bus lanes will be added on E. 14th St. between First Ave. and Avenue C, as well as three other locations, in the Bronx, Queens and Staten Island. The E. 14th St. dedicated bus lanes will be added this month, the mayor said.

    Predictably, transit-advocacy groups were elated at the news that the 14th St. busway is not going anywhere.

    “The 14th St. Busway has been a resounding success,” said Danny Harris, executive director of Transportation Alternatives. “We are pleased to see it made permanent, and that more busways will soon be coming online. New Yorkers deserve a bus commute without being stuck in endless car traffic. Our streets must be a tool toward the city’s recovery, and we look forward to working with the Department of Transportation to bring more bus-only corridors across the five boroughs.”

    “As almost everybody knows, the busway is a historically great success,” said Danny Pearlstein, communications director for the Riders Alliance. “Riders are thrilled to see it made permanent and inspire imitations citywide.”