Union Square’s first vertical technology campus and small business incubator is approaching full completion. Located at 124 East 14th Street, Zero Irving is the latest project from RAL Development and is envisioned as an equitable alternative for small businesses who cannot typically afford Class A office space and an educational launch point for the next generation of tech-centric workers in New York City.
Today, the only remaining portions of the façade awaiting installation are the double-height glass boxes on the western side of the building. These elements should be completed in the next few weeks.
“We’re thrilled to see our vision for Zero Irving come into fruition,” said Josh Wein, managing director at RAL. “The reception to the building has been incredible both from prospective tenants and brokers and we are confident this unique project will be a remarkable addition not only for the local community but also to the New York tech and business communities. The RAL team is hard at work and we are excited to be one step closer to the building’s official opening, slated for this summer.”
Designed by Davis Brody Bond, the 21-story building features a glass and metal façade with a large setback above the 13th floor that will eventually support an open-air terrace. The top 14 floors will offer market-rate office space. The lower floors of the building contain affordable office space for small companies, a triple-level training center, a tech incubator, co-working spaces, an event space, and a 10,000-square-foot food hall managed by Urbanspace. The entire structure spans 176,000 square feet.
“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.”
“Growth companies as well as established firms can certainly benefit from flexible office space,” said Spencer Levine, president of RAL in an official statement released in October 2020. “We view the flexible office offering at Zero Irving as an economic boost for second-stage companies and a further amenity for traditional companies.”
Construction kicked off early 2020 and is expected to wrap within the next few months. Leasing is now underway with JLL as the exclusive marketing agent.