Tech firms replace costume makers at “Halloween Tower”

Rents around 1115 Broadway have risen from $45 to $65 per foot in the last 18 months

TRD New York /
Oct.October 26, 2015 10:33 AM

High rents are scaring costume makers out of the building that was to be their hub.

Only four costume-making companies now reside at the “Halloween Tower” at 1115 Broadway, down from 15 in 2005.

They’ve been replaced by tech companies like Buzzfeed, Tumblr and Mashable, that are willing to pay the area’s booming rents, on average $65 a square foot, up from $45 a square foot just 18 months ago.




Behind the story:

1115 Broadway
Adams & Company

The 313,00-square-foot structure was dubbed the “Halloween Tower” in 2005, seeking to lock in its status as a home from costume makers, Jim Buslik, a principal at Adams & Co., the building’s owner, told the New York Post.

But as rents have risen, costume makers have been forced to relocate.

“The whole damn thing has been pushed out. New York has lost a whole lot of business,” Nigel Febland, who represents the Halloween industry, told the Post. “There’s a limit to what we all can pay for a showroom.”

InCharacter Costumes, Rubie’s Costume Co, FunWorld and Rasta Imposta continue to make their homes at the building.

New tenants haven’t embraced the name, the Post reported.

“There’s such a demand in that district for tenants within in the tech, advertising, media and information industries,” said Buslik. “‘Halloween Tower’ was kind of misleading.” [NYP]Ariel Stulberg


Related Articles

arrow_forward_ios
Eric Gordon

Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world

Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
Big Tech locations in NYC

MAP: Here’s a look at all the Big Tech locations in NYC

MAP: Here’s a look at all the Big Tech locations in NYC
What will proptech look like in 2019 and beyond?

What will proptech look like in 2019 and beyond?

What will proptech look like in 2019 and beyond?
States Title's Max Simkoff and The Real Deal's Hiten Samtani

The Interview: States Title’s Max Simkoff on reforming the murkiest corner of real estate

The Interview: States Title’s Max Simkoff on reforming the murkiest corner of real estate
Douglas Durst, One Five One, and Tik Tok CEO Kevin Mayer (Getty, Google Maps, iStock)

The biggest new tenant in New York City is… TikTok

The biggest new tenant in New York City is… TikTok
Amazon’s Alexa and Google Assistant will feed data reports to realtors via new voice app (Credit: Amazon, Google, iStock)

Staten Island MLS enlists Alexa, Google to feed data to Realtors

Staten Island MLS enlists Alexa, Google to feed data to Realtors
Airbnb CEO Brian Chesky (Photo by Stefanie Keenan/Getty Images for Airbnb)

Airbnb’s $1B fundraise comes with a hefty valuation cut

Airbnb’s $1B fundraise comes with a hefty valuation cut
Proptech and the pandemic TRD Talks Live

Proptech and the pandemic: Will coronavirus change how real estate works?

Proptech and the pandemic: Will coronavirus change how real estate works?
arrow_forward_ios

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

Loading...