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Corridor Spotlight: University Place
University Place is among Greenwich Village’s most desired streets with two urban oases on its north and south ends and stunning architecture ranging from the early 20th Century to modern buildings. University Place was called Wooster Street until its name was changed the year after New York University opened in 1838. Just six blocks long, University Place was known as a haven for artists in the 19th and 20th centuries. The Hotel Albert at 63 University Place operated for over 100 years and had many renowned guests from Robert Louis Stevenson to Frank Zappa. John Phillips wrote “California Dreaming” on a cold winter’s day there. The building now houses apartments.
University Place has seen several new developments in the last five years. 110 University Place and 116 University Place are condominium buildings with retail on the ground floor. Another mid-rise residential building is currently under construction at 64 University Place.
On University Place, about 50% of businesses are food related; 35% are retail and the remaining 15% provide services like beauty salons. Several businesses have been open for over 25 years including The Grey Dog and Newsbar, while The Knickerbocker Bar and Grill has been in operation for 45 years. Recent openings include Naya, a new middle eastern lunch spot, and Hip City Veg, on 12th Street right off University Place, that meshes comfort food with vegan cuisine. Average per square foot rent on University Place ranges from $130 to $250.
To learn more about University Place, see our recently released retail brochure (here) that includes information about demographics, foot traffic, comparable rates and retail needs for the area.
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