Target signs 33k square foot lease on Union Square with Empire State Realty Trust

10 Union Square East (Credit: Google)

By Adam Pincus

Retailer Target signed a 15-year lease with landlord Empire State Realty Trust, taking 32,579 square feet within a retail condominium at 10 Union Square East in Gramercy. The memorandum was signed on December 27, 2019 and was recorded on January 8, 2020.
The lease runs for 15 years and has a 10-year and 5-year option.
The entire retail condo contains a total of 63,105 square feet of built space, and other tenants include Starbucks and Food Emporium. Mount Sinai Union Square operates a large urgent care center in the building, as well.
The Target lease is for the ground floor and lower level. Fred Posniak and Thomas Durels represent the space in marketing materials for Empire State Realty Trust, which showed 5,726 square feet available on the corner, at the intersection of Union Square East and East 14th Street.
Richard Skulnik of Ripco Real Estate represented Target.
Target has signed several leases in New York City in recent months, including in Times Square and Jamaica.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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