Midtown Topless Bar Reaches for Sky With $13 Million Air Rights Purchase
Billy Gray Oct. 29, 2013, 3:45 p.m.
The Giants-jeering jiggle joint Rick’s Cabaret paid $13 million for 39,000 square feet of air rights above its building at 50 West 33rd Street.
Rick’s, which recently made news by refusing to air New York Giants games for fear of deflating their customers, also secured an option to acquire its land and three-story building within the next five years for $10 million, Law360 reported.
The deal with landlord Elo Organization also stipulates that the strip club’s monthly rent will sag to $100,000 from $180,000. Rick’s previously announced that it planned to build 20,000 square feet of commercial space at its Midtown location. Rick’s Cabaret opened in 2005. Three years later, it wooed the venerable strip club flack Lonnie Hanover–a friend of the Howard Stern Show–away from rival Scores.