Canadian Donuts Invade Union Sq.

A news flash about the Zen Palate site on Union Sqare East, and it’s decidedly downmarket:

“The Riese Organization just purchased 34 Union Square (between 15th and 16th), formerly home to Zen Palate and plans to install a TGI Friday’s and a bonus Tim Horton’s in the space. Its been vacant in the two years since Zen Palate vacated due to “astronomical and non-negotiable increases” in their rent, a rent that has dropped 40% in the last six months. Choice quote: “…while many chefs in the district purchase food from the popular green market there, T.G.I. Friday’s will not join them, says Mr. Riese. ‘We are not that type of restaurant…'” Indeed.

Similar Posts

  • Water Rates to Rise…A Lot

    Here’s the news: “The New York City Water Board voted on Friday morning to approve a 14.5 percent increase for water and sewer rates, the largest increase since 1992. When the new rate is in place on July 1, according to the city’s Independent Budget Office, water rates will have risen a cumulative 77 percent since 2001, and double-digit increases are expected to keep coming for at least a few more years.”

    This is one of those uncontrollable costs that bedevil the co-op’s budget every year. The only thing we can do about it: use less water. We’ve already taken steps to examine our infrastructure and make sure we have discovered any sources of waste and leaks. Other than that, it’s all about less consumption.

  • Reyna Update

    On October 26, the owners of the upcoming Reyna restaurant, which is taking over the Le Midi space on 13th St., held an introductory Zoom call. Attendance was sparse, but it was interesting to hear their plans and to have the chance to voice concerns pre-emptively.

    The restaurant will likely be open until 11 on weekdays and midnight on weekends. It is meant to be an upscale drinking/dining experience, not a noisy bar. They will also be using the Karaoke Cave space as a site for “French Karaoke” as well as sort of a holding space for people who may be waiting for a table (a problem Le Midi certainly never had).

    They also plan to build a street-side dining shed, most of which will occupy the space now being used by Corkbuzz.

    In general, they seemed quite eager to hear about any issues that nervous neighbors like us might have ahead of time, rather than deal with our anger later. They hope to open in the March/April time frame.

    You can get an idea of what Reyna will be like by visiting the Web site for their two locations in Toronto:  www.barreyna.com 
    If you have any questions, you can contact them directly:

    Nicki at nicki@barreyna.com
    Etienne at 646-421-4242.

  • A 14th St Resurgence

    The Union Square Partnership reports:

    Amid the broader success of the Union Square area in 2024, the performance of 14th Street between 1st and 6th Avenues stands out as exceptional. This segment alone welcomed 18 new businesses in 2024, including Q4 openings such as Adonis Barbershop, Upperz Café & Bar, Kamisama, and Harlem’s famous soul food restaurant Amy Ruth’s. These family-owned establishments enhance Union Square’s vibrant and diverse retail and food scene.

    Thanks to strong leasing activity this quarter, the storefront vacancy rate along 14th Street between 1st and 6th Avenues has dropped to 9%, with just one available ground-floor listing east of Broadway.

    According to LiveXYZ, this is below the average vacancy rate for Manhattan Business Improvement Districts (BIDs) (16%) and the vacancy rate for the Union Square Partnership BID as a whole (16%).

    Beyond retail growth, investments in residential developments and transit upgrades have modernized 14th Street’s appearance and accessibility at Union Square’s western gateway. The completion of upgrades to the F/L/M/1/2/3 subway station at 6th Avenue has made the station fully accessible, complementing new residential landmarks like FÖRENA (540 6th Avenue) and 101 West 14th Street at the intersection’s northern corners. Meanwhile, construction is underway on a 71-unit condominium at 525 6th Avenue on the southwest corner, poised to complete the transformation of this important intersection.