Union Square 4th Quarter Surge Statistics

ByDon

 

From the Union Square Partnership:

Union Square’s fourth quarter performance capped a strong
2024, marked by year-over-year growth across key metrics:

Ground Floor Leasing: 49 new businesses opened in 2024,
with Union Square’s signature culinary scene driving 65%
of leasing activity.

Foot Traffic: An average of 370k daily trips in 2024
reflected a 4% increase over 2023, which itself saw a 15%
rise compared to 2022.

Consumer Spending: A 5% increase in 2024 over 2023,
fueled by higher spending at restaurants and bars (+7%),
entertainment (+18%), and retail (+3%), continuing upward
trajectories from 2023 (+8%) and 2022 (+17%).

In Q4, the district experienced a 23% surge in visits and a
28% jump in consumer spending during Urbanspace’s Union
Square Holiday Market, highlighting Union Square’s appeal for
unique experiences and shopping. With notable Q4 restaurant
openings such as Leon’s and Le Basque driving momentum,
18 new businesses are already set to debut in 2025. These
include Seahorse at the newly renovated W New York – Union
Square, Café Zaffri at The Twenty Two, and Flight Club,
signaling strong economic growth for the year ahead

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