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nion Square Park and its surroundings are experiencing a resurgence in activity, with storefronts around the park now 82% occupied, an 68% increase from the previous quarter. This uptick is largely due to new retail and restaurant leases, including popular eateries like Seahorse, Flight Club, and Smashy.
A major draw for visitors is the Greenmarket, which continues to attract crowds. Additionally, big-name retailers on East 14th Street contribute to the area's appeal. The Union Square Partnership reports a 28% increase in office worker visits since the first quarter of last year.
The area has also seen significant developments, such as the opening of Mets House at 1 Union Square West and the arrival of Fred Astaire Dance Studio and nutrition-care provider Nourish on Broadway. A major morale-booster was the removal of scaffolding from Barnes & Noble's flagship store on East 17th Street.
A large outpost of popular steakhouse STK is set to open on Park Avenue South, while pop-up shops are filling vacant ground-floor spaces around the park. However, despite this progress, at least 20 storefronts remain dark along Union Square East, and the office market lags behind, with leasing activity slightly below its five-year average.
In a separate development, all 20 loft-like condo apartments in the Armorie, a former publishing house turned residential conversion, were sold to a single buyer for $71 million just days after they went on the market.
