Ricky’s stores turn dark post-Halloween

Cosmetics retailer uses Halloween shops to test for future long-term locations

New York /
Nov.November 10, 2011 04:36 PM


A temporary Ricky’s at 2039 Broadway
For about 10 weeks each autumn, grim retail spaces across the city are enlivened by zombies, vampires, Frankensteins, ghosts and ghouls displayed prominently in brightly lit windows by Ricky’s Halloween stores. But by this time of year, mid-November, the spaces largely revert to their dark, vacant states.

To fulfill the demand for costumes in the days leading up to Halloween, Ricky’s takes 10-week leases, starting in September and running through mid-November in vacant retail spaces across the five boroughs. This year it added 22 such pop-up shops, typically about 2,500 square feet each, to its existing 27 full-time cosmetic stores in the city, according to its real estate broker, said Task Realty CEO Adam Stupak. The retailer uses the opportunity presented by Halloween to test its concept in new neighborhoods. Stupak would not disclose the rents, but noted that they range wildly depending on the neighborhood.

“The number one thing we do with the temporary store is use it to gauge a neighborhood,” Stupak said. “When we open the stores we want to see if it would make sense for a long-term Ricky’s.” Sometimes, the store returns to the same location several times — as it did, for example, for the second consecutive year at 1391 Sixth Avenue, between 56th and 57th streets, in Midtown — to get a full grasp on the market. Stupak estimates that about 10 percent of pop-up shops become full-time locations.

Landlords, of course, are happy to have the 10 weeks of income, according to Ralph Hanan, a real estate broker that represented landlord ACHS Management for three Ricky’s short-term leases in the Bronx, Brooklyn and Manhattan.

“They are a good tenant,” Hanan said. “They keep the doors open, the lights on and the space on display, which helps to find a long-term tenant.” Hanan said in the last few years, at least two long-term tenants signed on for space shortly after Ricky’s left a
location, Including A Rainbow Clothing Store On Broadway in Brooklyn and a bathroom fixture supplier on Hylan Avenue in Staten Island.

Ricky’s makes landlords well aware that they’re using the space to test its own long-term viability there, Hanan said.

Though, the temporary Halloween stores are certainly different than the typical, year-round Ricky’s, Stupak said they both appeal to a similar demographic — young females. Stupak admitted that while business is usually good for the Halloween locations
(“Everyone knows Ricky’s, especially on Halloween,” he said), which typically choose high-foot-traffic corridors, it doesn’t necessarily translate directly to a successful year-round store.


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Adam Neumann with 515 West Avenue (Wikipedia, Realtor, iStock)
No buzz, but Adam Neumann will take the $293M
No buzz, but Adam Neumann will take the $293M
William Vale Hotel in Williamsburg, Brooklyn (iStock, William Vale, Illustration by Kevin Cifuentes for The Real Deal)
Avi Philipson–led group to buy William Vale hotel
Avi Philipson–led group to buy William Vale hotel
Clockwise from top: Mayor Eric Adams, Bruce Teitelbaum, Adrienne Adams and Suri Kasirer (Getty/Adams via Paul Dilakian)
A make-or-break moment for NYC’s housing crisis
A make-or-break moment for NYC’s housing crisis
Order your copy now: “The New Kings of New York” arrives today
Order your copy now: “The New Kings of New York” arrives today
Order your copy now: “The New Kings of New York” arrives today
Photo illustration depicting landlords being outearned by their lenders (iStock)
More multifamily landlords are making less than their lenders
More multifamily landlords are making less than their lenders
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...