McNally Jackson Bookstore
As we heard from Bowery Boogie earlier this week, the successful and beloved McNally Jackson bookstore on Prince Street in Soho is being forced to move. Why? The landlord wants “an enormous amount of rent,” Sarah McNally told AMNY.
McNally added that she has "a contract on one space and has also identified another as a backup. She’s not announcing the final destination yet but it will be in Manhattan close to the original store."
This is good news--but for how long?
For over a decade of talking to countless small businesspeople pushed out by landlords who hiked the rent or denied lease renewals, I have found that many fail to relocate. Of those that do, many end up closing soon after. What's missing? Long leases. It was once customary for a small business to get a ten-year lease. Today, you're lucky if you get two years. And then it can happen all over again.
In addition, the bookstore-killing Amazon has opened a brick-and-mortar location in Soho--right around the corner from McNally Jackson, at 72 Spring St., just one block away. That's probably not a coincidence. McNally Jackson is successful and big retailers like Wal-Mart and Home Depot are known to open close to successful smaller competitors to suck their customers away.
So while we're breathing a sigh of relief to hear that McNally's not going far right now, we still need to take action to protect it--and other small businesses--in the future. That's why we need to convince the City Council to pass the Small Business Jobs Survival Act. It would guarantee a 10-year lease and a fair rent increase to McNally Jackson and countless others.
There's a public hearing on October 22. Go and speak your mind. If that's not possible, here are more easy, quick ways you can make a difference today. The future of this city depends on you.
P.S. The building that houses McNally Jackson used to have a grocery store, Little Italy’s only supermarket and a neighborhood staple for 25 years. It was forced to close in 2016 -- the Voice reported that rent was $90,000 and the landlord was likely looking for $150,000 to open “a more upscale operation.” That space is still sitting empty, another example of high-rent blight.
McNally added that she has "a contract on one space and has also identified another as a backup. She’s not announcing the final destination yet but it will be in Manhattan close to the original store."
This is good news--but for how long?
For over a decade of talking to countless small businesspeople pushed out by landlords who hiked the rent or denied lease renewals, I have found that many fail to relocate. Of those that do, many end up closing soon after. What's missing? Long leases. It was once customary for a small business to get a ten-year lease. Today, you're lucky if you get two years. And then it can happen all over again.
In addition, the bookstore-killing Amazon has opened a brick-and-mortar location in Soho--right around the corner from McNally Jackson, at 72 Spring St., just one block away. That's probably not a coincidence. McNally Jackson is successful and big retailers like Wal-Mart and Home Depot are known to open close to successful smaller competitors to suck their customers away.
So while we're breathing a sigh of relief to hear that McNally's not going far right now, we still need to take action to protect it--and other small businesses--in the future. That's why we need to convince the City Council to pass the Small Business Jobs Survival Act. It would guarantee a 10-year lease and a fair rent increase to McNally Jackson and countless others.
There's a public hearing on October 22. Go and speak your mind. If that's not possible, here are more easy, quick ways you can make a difference today. The future of this city depends on you.
P.S. The building that houses McNally Jackson used to have a grocery store, Little Italy’s only supermarket and a neighborhood staple for 25 years. It was forced to close in 2016 -- the Voice reported that rent was $90,000 and the landlord was likely looking for $150,000 to open “a more upscale operation.” That space is still sitting empty, another example of high-rent blight.
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