the territory covered by the business improvement district<\/a> displayed soaring retail commitment in the fourth quarter. Storefront occupancy increased to 9%, compared to 85% for the same period the year before.<\/p>\nJLL senior managing director Andrew Scandalios, the co-leader of the firm\u2019s capital markets group, said that over the course of 2025, \u201cMomentum steadily rebuilt,\u201d with offices \u201cin particular drawing renewed\u00a0 investor confidence for the first time in seven years.\u201d<\/p>\n
Storefront occupancy in the Union Square area increased to 9% in the fourth quarter last year. Mario Hagen \u2013 stock.adobe.com<\/p>\n
According to the BID, 16 new businesses \u2013 half of them food-and-beverage \u2014 opened late last year including national retailers like Aritzia, Ulta Beauty and Nespresso.<\/p>\n
Just as meaningfully, new tenants are coming soon to five Union Square addresses that were long dark. The largest will be Uniqlo with 19,250 square feet at 860 Broadway at the park\u2019s northern end.<\/p>\n
Also on the way soon are Flight Club at 31 Union Square West, which was vacant since Bluewater Grill closed in January 2019; and STK Steakhouse, with 12,650 square feet at 200 Park Ave. South.<\/p>\n
Storefront rents are healthy and rising, typified by $300 per square foot at 41 Union Square West where Voodoo Doughnuts is coming, Crain\u2019s reported.<\/p>\n
Seeing Purple<\/p>\n
Purple, a prominent lifestyle public relations agency, is expanding in the city big-time with a move to Adams & Company\u2019s 16 Madison Square West. The company signed for 24,000 square feet on the building\u2019s entire fourth floor. It had only 14,700 square feet at 322 Eighth Ave.<\/p>\n
Purple represents luxury lifestyle and hospitality brands worldwide, including prominent New York hotels such as The Mark, Ian Schrager\u2019s new Public and many trendy restaurants.\u00a0<\/p>\n
The landlord was repped in-house by Jeff Buslik and Ben Levy, while a JLL team including Simon Landmann, Harrison Potter and Graham Jameson repped Purple.<\/p>\n
Landmann said, \u201cPurple was seeking a full-floor environment that could support its continued growth while offering strong identity, natural light and proximity to transit and amenities.\u201d<\/p>\n
Purple CEO Fergus Lawler added, \u201cWe believe in establishing long term relationships with clients and suppliers and the relationship with JLL gives us an edge in getting the best value for our business.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"The office sector powered a dramatic surge in Manhattan investment sale activity in 2025, when volume swelled more…\n","protected":false},"author":2,"featured_media":105091,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[288,1489,12185,75,84,83,9,24,63,3274,6018],"class_list":{"0":"post-105090","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-manhattan","8":"tag-business","9":"tag-commercial-real-estate","10":"tag-madison-avenue","11":"tag-manhattan","12":"tag-manhattan-headlines","13":"tag-manhattan-news","14":"tag-new-york","15":"tag-new-york-city","16":"tag-nyc","17":"tag-realty-check","18":"tag-union-square"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/105090","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=105090"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/105090\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/105091"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=105090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=105090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=105090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}