Friday, February 9, 2018

Former TGI Friday's space on Union Square now a $31 million development site

[Photo by Daniel from January]

The TGI Friday's at 34 Union Square East and 16th Street shut down at the end of 2017, as we noted here.

For sale signs via Eastern Consolidated were up right away though we never saw the listing... which is now live here:

... a development site that offers a ±26,000-square-foot zoning floor area for a mixed-use building on the last remaining corner development site on Union Square Park. The property is currently improved with a vacant, ±6,500 square foot, two-story commercial building. With ±19,500 square feet of unused development rights, the property offers 26-feet of frontage on Union Square East and 125-feet of frontage on 16th Street.

And an aerial photo looking at Union Square via Eastern Consolidated ... to see how the site stacks up against its neighbors... just imagine another ±19,500 square feet on top...

Dennis Riese, the chairman of the board and CEO of The Riese Organization, reportedly bought this building for $15.3 million at the end of 2009. The TGI Friday's opened in June 2010.


Pinch said...

It's possible though that the future developer plans on constructing a building with a really deep basementšŸ¤·šŸ¼‍♂️

Neighbor said...

This is 100% a good thing.

Anonymous said...

Ooh, look, perfect for new homes for our overlords! New overpriced homes for the Google/Facebook employees! Bro-topia, woo, woo.

This area is going to be San Francisco East in terms of unaffordability for people who have regular jobs that don't pay a ton of money. We just need to GTFO and make way for our "betters".

Gojira said...

Goodbye to yet more sunshine and air, hello to yet another oversized gloomy box filled with the pampered elite. Seriously, will it never end?

Anonymous said...

Sunshine and air coming from the lot line of that monstrosity building that hugs it? I don't think so.