T
he Union Square district has continued to gain momentum since our previous report four months ago. Retail storefront occupancy surged from 82% in April, a 68% increase over the last quarter of 2024, and now stands at 88.5%. This growth is largely attributed to significant leases, including Uniqlo's 19,000 square-foot space at 860 Broadway.

    Retail leasing volume has also seen a substantial boost, with over 17,000 square feet leased in the second quarter – more than seven times the amount from the same period last year. Time Out Market is set to open a 10,000 square-foot food hall on the ground floor of Zero Irving, marking a notable addition to the area's dining scene.

    Office availability has decreased significantly, with several buildings fully leased, including Zero Irving and 860 Broadway. Capital One's headquarters at 114 Fifth Ave has expanded by over 96,000 square feet, bringing its total Union Square footprint to 213,500 square feet – a milestone achievement according to the Partnership.

    The neighborhood is experiencing increased foot traffic, with daily weekday visits averaging 380,000 – a 10,000-person increase from last year. The 14th Street-Union Square subway station has also seen a 12% rise in daily ridership, reaching 65,000 passengers.