Admit it: you’ve woken up at 3:00 AM longing for a giant tub of mayonnaise. Or maybe it was the 10:00 AM craving for 20 rolls of toilet paper. Whatever the desire for the oversized; the excessive amounts; or just the proverbial low, low prices, your wishes have been fulfilled: The first Costco has opened in New York City.
The mega-deal store is the first tenant in the new East River Plaza, a “big-box” shopping center off the FDR Drive on 116th street. The store, clocking in at 110,000 square feet, will also welcome neighbors Best Buy, Marshalls, and—be still my heart–Target in the next few months.
Costco execs looked for years to round out their offerings of Costco stores in the city (the others are in Queens, Brooklyn, and Staten Island). The same spot was deemed too pricey a few years ago–but thanks to the recession, the space is now going for 30 percent less than was originally offered.
Buyers must fork over an annual membership fee—but at the Manhattan location, offerings include wildly reduced Ugg Boots and Seven for All Mankind jeans—not to mention Cartier jewelry and Rolex watches.
Is it too far uptown for many New Yorkers? We’re willing to bet that for off-price designer goods, discounted bestsellers, coveted makeup brands and oversized boxes of pasta, New Yorkers will go just about anywhere–especially if it’s in their own backyard.
Michael Tubbs - The Stats Guy
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