Robert K. Futterman & Associates.

Prime retail space in the heart of Union Square at 12 East 14th Street, formerly occupied by Woolworths, is on the market for lease through Robert K. Futterman & Associates (RFK).

Situated between Fifth Avenue and University Place, the 40,000 square-foot space consists of two levels connected by an interior escalator, with 75 feet of frontage on both 14th and 13th streets. The 13th Street side can accommodate a store as well as serve as a portal for deliveries. The space offfer 16,000 square feet on the ground floor and 17,000 square feet of lower level space, a mezzanine of 5,500 square feet, plus a small office area of 1,400 square feet.

"Union Square is re-inventing itself in terms of new retail and residential development," said Howard I. Gilbert, senior managing director of RFK, who is in charge of marketing the space. "Twelve East 14th Street is in a heavily trafficked seven-day-a-week location and benefits from being close to major subway lines. The space would be ideal for a discounter, variety store, home furnishing/accessories outlet, and/or apparel retailer"

RKF is acting on behalf of the property's landlord, Aaron Kozak & Partners, a small private company. The space is priced at an asking rent of $1.7 million per annum, which equates to approximately $42.50 per square foot. Now vacant, occupancy could be immediate.