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RAL signs 10,000 s/f Union Square food hall deal

Food hall operator Urbanspace has signed a 10,000 s/f lease to operate a new food hall at RAL Development’s Zero Irving, mixed-use development in Union Square.

Urbanspace currently operates four food halls in Manhattan, and the new Union Square location represents an expansion into a tech-focused new property development within an area that is a magnet for technology and media tenants.

ELDON SCOTT

“We have the ideal business model to help the NYC culinary community recover. It is very challenging for chef entrepreneurs to get started, now more than ever,” said Eldon Scott, President of Urbanspace. “Our platform lessens those barriers and is a great, turn-key opportunity, while giving our customers something special, the newest local flavors, and the never before tasted combinations.”

Urbanspace will be an amenity for Zero Irving’s tenants, users of the building’s event space, and the surrounding neighborhood.

 Urbanspace plans a mixed online/offline platform with enhanced online ordering, delivery and pickup options for building tenants and the local community. The company also plans a catering option offered to both building tenants and users of Zero Irving’s event and conference center.

“The Union Square Partnership community could not be more thrilled that Urbanspace is officially on board as the food hall operator at Zero Irving, which will be a terrific new addition to Union Square-14th Street,” said Jennifer Falk, Executive Director, Union Square Partnership.

“Urbanspace has a wonderful track record in our community having operated their landmark Holiday Market in Union Square for over three decades. We know they will do something truly special with this project and we thank them for making this incredible investment in our district, particularly during these challenging times.”

ZERO IRVING

The new food hall will also benefit from several COVID-19 favorable attributes RAL has deployed for both Urbanspace and the building’s office users.

Among them, RAL is introducing new technology to deliver a completely touchless entry experience from street to desk, along with privately controlled and customizable HVAC systems for each tenant floor, air quality monitoring stations, and 5 individual bathrooms per tenant floor built with modern materials that facilitate cleaning and disinfecting.

Once complete, Zero Irving will offer 176,000 s/f of new Class A office space across 14 floors at the top of the 240,000 s/f, 21-story building. 

The project also includes a technology training center and incubator, event space and Urbanspace at grade level. 

Zero Irving will also be offering flexible office space on the building’s upper floors with shorter terms and lesser credit requirements.

Zero Irving is fully financed and currently under construction, with delivery expected in early 2021.

JOSH WEIN

“We’re incredibly excited to announce that Urbanspace will open at Zero Irving, it brings a remarkable amenity that will be available to both the building tenants and the neighborhood at large,” said Josh Wein, Managing Director at RAL. “The RAL team is steadily pulling together all the ingredients to realize our vision of Zero Irving as a great mixed-use building that is additive to the community and ideal for tenants as well.”

Newly constructed space is also rare in Union Square, which offers mostly older or renovated building stock.

The building’s distinctive design, along with various outdoor spaces, touchless access, and private HVAC systems, will be key to attracting tenants who will be able to decide how to set up their space and tackle office life post pandemic.

The building is engineered to comply with both WiredScore Platinum and LEED Gold Certifications.

Mitch Konsker, Vice Chairman of JLL, leads the leasing effort alongside Benjamin Bass, Dan Turkewitz and Kristen Morgan. Claire Bernard, AVP of Leasing & Curation, leads the leasing efforts at Urbanspace.

Zero Irving is the result of RAL’s successful response to an RFP issued by NYCEDC. The team behind the project is also comprised by financial partner Junius Real Estate Partners, architecture firm Davis Brody Bond, and commercial construction company Suffolk Construction.

RAL signed a 99 years lease with the city for the site, which was formerly home to a PC Richard & Son store.

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