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 ...