Teeny-weeny Starbucks opens in NYC

The drinks are the same size as usual, but this Starbucks store sure isn't.

It's a Starbucks, alright, but at about one-quarter the size of a conventional Starbucks and with a seriously scrunched-down menu. Don't look for Frappuccinos here (they take too long to make), or, for that matter, lunchtime salads or sandwiches.

Also, no familiar Starbucks mugs, bags of coffee, or home-brewing equipment. The only merchandise sold here that isn't food or drink is the Starbucks Card.

Even then, this store is expected to become a top-grosser. Despite its size, it looks super chic. Rich wood decor and shiny, gold lettering. Money talks on Wall Street.

"This is one of the smaller spaces we've ever occupied," says Starbucks spokeswoman Haley Drage. To be specific: 538 square feet. "It's very refined to reflect what the New York customer wants."

Welcome to the nation's first Starbucks Express. It opened early Thursday morning on Wall Street, across from the New York Stock Exchange. This is Starbucks at its tiniest. It's all about quickly — very quickly — making the sale, than moving on to the next one. In fact, even before you pay for your order, a table-toting barista greets you when you walk in and zips your order to the barista who will make it.

There are no chairs. No tables. Not even a restroom. But you're welcome to lean against the rail that runs along the wall if you want. There are some hooks for hanging up coats or bags. And, yes, there is wi-fi.

"You buy — you bolt," says Robin Dipietro, professor of hospitality at University of South Carolina. "Sounds like a great idea to me."

This may or may not be the Starbucks of the future. Four more are scheduled to open this year in New York City. Starbucks is in the midst of testing all kinds of different formats — large and small — to see what works in what geography and with which demographic. But it's a far cry from the so-called "third place" long-envisioned by CEO Howard Schultz as a place between home and work that's hang-out-worthy.

"The third place still exists," says Drage. "This is a contemporary format. We have lots of other offerings."

Starbucks Express stores will work best in densely-populated markets like New York and Chicago, says Dipietro. But they will only work, she says, "in certain markets with lots of people on the move."

Even then, the pricey, designer Starbucks drinks might seem like a bargain compared to the merchandise sold by the retailer formerly in the same location: True Religion. Its designer jeans can easily fetch $300 — or more.

Hold the foam.