Manhattan

Commercial space in Union Square

Union Square is one of the best-connected transit hubs in Manhattan, and its retail corridors on 14th Street and Broadway attract national brands. Office inventory is mostly boutique loft space favored by education, tech, and nonprofit tenants.

Commercial properties
367
Retail stock
2.9M SF
Median year built
1909
Known for
Retail, Office, Restaurant

Building figures are existing stock from NYC PLUTO 26v2 tax lot records, not space on the market. More below.

On Leasemark No spaces or requirements posted in Union Square yet. List a space and it is matched to every new requirement, or post what you need and get matched as spaces arrive.

Nothing listed in Union Square yet

The labeled examples below show how spaces appear here; they are not on the market. Get an email the day a space here is posted, or list yours and it is matched to requirements the day it goes up.

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NYC tax lot records

The building stock in Union Square

What already stands here, from the city's own property data. Useful for sizing a search before a single space is listed.

Commercial properties
367
Office space
7.5M SF
Retail space
2.9M SF
Built before 1940
80%

Largest retail buildings

  1. 7 floors · built 1971
  2. 6 floors · built 1998
  3. 7 floors · built 1881
  4. 2 floors · built 1929
  5. 867 Broadway32K SF
    5 floors · built 1883
All 57 large commercial buildings in Union Square

Age, height and zoning

  • Median year built: 1909.
  • Median height: 7 floors.
  • Most common zoning districts: C6-1 (76), C6-4 (43), C6-2A (39).
  • Historic districts: Ladies' Mile Historic District (78 lots), Gramercy Park Historic District (4 lots), Greenwich Village Historic District (3 lots).
  • 28 lots are designated city landmarks.

Source: NYC Department of City Planning, PLUTO 26v2, pulled 2026-10-16. Counts cover tax lots with commercial floor area within about 0.3 mi of Union Square's commercial core, and each lot counts toward one neighborhood only, so boundaries are approximate. Building figures are the city's floor-area estimates, not available space.

MTA station data

Subway stations in Union Square

Every station within about 0.5 mi of Union Square's commercial core, closest first. Stations joined by a free transfer count once.

Stations
8
Subway lines
13
Fully accessible
3 of 8
Closest
14 St-Union Sq, 1 min walk

The 8 stations

  • 14 St-Union Sq1 min walk · Accessible station
  • 14 St6 min walk · Accessible station · connects to 6 Av
  • 3 Av7 min walk · Not accessible
  • 23 St-Baruch College7 min walk · Accessible station
  • 23 St8 min walk · Not accessible
  • 8 St-NYU8 min walk · Not accessible
  • Astor Pl8 min walk · Not accessible
  • 23 St10 min walk · Not accessible

Lines

The 1, 2, 3, 4, 5, 6, F, L, M, N, Q, R and W trains stop within about 0.5 mi of Union Square's core.

Step-free access

  • 14 St-Union Sq (4 5 6 L N Q R W) is fully accessible.
  • 14 St (1 2 3 F M) is fully accessible.
  • 23 St-Baruch College (6) is fully accessible.

Source: Metropolitan Transportation Authority, MTA Subway Stations, pulled 2026-10-16. Walking times are straight-line estimates from the nearest point of Union Square's commercial core (the same area as the building counts), so the street route is longer. Accessibility is the MTA's rating for the named station. PATH, LIRR, Metro-North and ferries are not in this data.

NYC property records (ACRIS)

Recent building sales in Union Square

10 sales of the large commercial buildings Leasemark tracks in Union Square have been recorded since 2016, $742.4 million in all. The newest 6 are below.

Newest sales

  1. March 2026 · $651 a SF · to 88U OWNER LLC
  2. February 2025 · $374 a SF · to 880 BROADWAY TENANT, LLC
  3. 797 Broadway$255 million
    November 2024 · $1,709 a SF · to WEISSHORN RE 799 BROADWAY LLC
  4. August 2024 · $403 a SF · to EAST 18TH STREET LLC
  5. 88 University Place$31.1 million
    May 2022 · $440 a SF
  6. 836 Broadway$39.3 million
    December 2021 · $691 a SF · to 836 BROADWAY PARTNERS LLC

Since 2016

  • Largest: 797 Broadway, $255 million in November 2024.
  • Median price: about $651 a square foot of floor area, across 9 one-building sales.
  • Newest deed on record: March 2026. The city's open data runs about a month behind.
All 10 building sales in Union Square

Source: NYC Department of Finance, ACRIS, Real Property Master, Legals and Parties, pulled 2026-10-16; prices as the deeds state them, buyers named only when they are companies. These are sales of the large buildings Leasemark tracks, not every sale here: condo buildings (sold unit by unit), partial interests and sales of the company that owns a building are left out.

NYC Department of Finance

Commercial property taxes in Union Square

Of the 57 large commercial buildings Leasemark tracks in Union Square, 53 carry property tax on the city's 2026/27 assessment roll. Their median estimated tax is about $19.55 per square foot of floor area a year, before abatements.

Largest estimated bills

  1. $28.32 a SF · market value $206.9 million
  2. 842 Broadway$8.68 million
    $36.73 a SF · market value $188.9 million
  3. $18.46 a SF · market value $180.6 million
  4. $23.58 a SF · market value $169.1 million
  5. 122 Fifth Avenue$7.38 million
    $30.22 a SF · market value $151.1 million
  6. $26.27 a SF · market value $149 million

Across 53 taxed buildings

  • The middle half pay between $14.23 and $24.49 a square foot of floor area a year.
  • Manhattan median: $13.55 a square foot, across 1388 large buildings Leasemark tracks.
  • Median market value on the roll: about $415 a square foot. That is the city's valuation for tax, not a sale price.
  • 4 buildings are fully exempt, including 124 East 14th Street and 60 Fifth Avenue. Exemptions like these are common for government, nonprofit and PILOT properties.

Source: NYC Department of Finance, Property Valuation and Assessment Data, 2026/27 roll, pulled 2026-10-16. Estimates are the taxable value after exemptions times the Class 4 rate of 10.848% (tax year 2025/26, the latest the city lists), divided by the building's floor area in PLUTO. They leave out abatements such as ICAP, payment-in-lieu-of-taxes agreements and charges, so actual bills differ. Large buildings only (35,000 SF and up in Manhattan).

NYC Department of Buildings permits

Interior build-outs in Union Square

In the 12 months to October 2026, the Department of Buildings issued first permits for 81 interior build-outs in 38 of the 57 large commercial buildings Leasemark tracks in Union Square, with work permitted on 99 floors in all. Their filed cost estimates add up to about $43 million.

Most build-outs, last 12 months

  1. 4 floors with work
  2. 7 floors with work
  3. 5 floors with work
  4. 4 floors with work
  5. 3 floors with work
  6. 5 floors with work
  • 67% of the buildings tracked here had a build-out, against 61% across Manhattan.

Build-outs by quarter

  • Q1 202519
  • Q2 202533
  • Q3 202526
  • Q4 202521
  • Q1 202617
  • Q2 202624
  • Q3 202622
  • Q4 2026 to Oct 222

Newest

Source: NYC Department of Buildings, DOB NOW: Build Approved Permits, pulled 2026-10-24 (permits issued through 2026-10-22). A build-out groups interior jobs (construction, mechanical, plumbing, sprinklers and the like) on the same floors first permitted within 120 days of each other, dated by its first permit. Only the large buildings Leasemark tracks count (35,000 SF and up), not every permit in the neighborhood. Costs are the estimates filed with the jobs. A permit does not say who the work is for.

Before you sign

Plain-English guides to square footage, rent and lease terms in New York, and free calculators to run your own numbers.

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Questions about Union Square

How much commercial space is there in Union Square?

New York City's PLUTO tax lot data (26v2) records about 12.3 million square feet of commercial floor area across 367 properties in the part of Union Square Leasemark covers, including about 7.5 million square feet of office and about 2.9 million square feet of retail. The largest retail building by that measure is 44 East 14th Street, at about 263,000 square feet. That is the existing building stock, not space currently available.

What subway lines serve Union Square?

Eight subway stations sit within about 0.5 mi of Union Square's commercial core, served by the 1, 2, 3, 4, 5, 6, F, L, M, N, Q, R and W trains. The closest is 14 St-Union Sq (4 5 6 L N Q R W), roughly 1 minute on foot; then 14 St (1 2 3 F M L), 3 Av (L), 23 St-Baruch College (6), 23 St (R W), 8 St-NYU (R W), Astor Pl (6) and 1 more. Walking times are straight-line estimates from MTA station data.

Which subway stations in Union Square are accessible?

Three of the eight stations within about 0.5 mi of Union Square's commercial core are fully accessible, per the MTA: 14 St-Union Sq (4 5 6 L N Q R W), 14 St (1 2 3 F M) and 23 St-Baruch College (6).

When did a large commercial building in Union Square last sell?

The newest sale on record is 88 University Place, which sold in March 2026 for $46 million to 88U OWNER LLC, per the deed recorded with the city. 10 sales, $742.4 million in all, have been recorded of the large commercial buildings Leasemark tracks in Union Square since 2016.

See every building sale in Union Square

How much are commercial property taxes in Union Square?

On the Department of Finance's 2026/27 assessment roll, the 53 large commercial buildings Leasemark tracks in Union Square that pay property tax come to a median of about $19.55 per square foot of floor area a year, with the middle half between $14.23 and $24.49. That is the taxable value after exemptions times the Class 4 rate of 10.848% (tax year 2025/26, the latest the city lists), before abatements such as ICAP. The largest estimated bill is Merchants' Exchange Building, 114 Fifth Avenue, about $9.96 million a year. 4 more buildings are fully exempt. Many office leases pass a tenant's share of increases over a base year through as additional rent.

How taxes show up in gross and net leases

How much build-out work is happening in Union Square?

In the 12 months to October 2026, the Department of Buildings issued first permits for 81 interior build-outs in 38 of the 57 large commercial buildings Leasemark tracks in Union Square, with work permitted on 99 floors in all. Their filed cost estimates add up to about $43 million. The most were at 32 Union Square (6 build-outs). A build-out here is interior work on the same floors (construction, mechanical, plumbing, sprinklers and the like) first permitted within 120 days. New interior work usually follows a lease, so it is a rough sign of where tenants are moving in, but a permit does not say who the work is for.

Build-outs in every NYC neighborhood

Do tenants in Union Square pay the NYC Commercial Rent Tax?

Yes, for larger leases. Union Square is in Manhattan below 96th Street, where the city's Commercial Rent Tax applies. A tenant owes it only when base rent for the space is $250,000 a year or more. The tax is 6% of base rent after a 35% reduction, so 3.9% of rent, with a sliding credit between $250,000 and $300,000, and the Small Business Tax Credit wipes it out for businesses with total income of $5 million or less and base rent under $500,000.

Estimate it with the Commercial Rent Tax calculator

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Yes. Posting a space or a requirement is free. Contact details are only shared when both sides accept an intro.