McNally Jackson Books Faces $500K Rent Hike

Posted on: October 18th, 2018 at 5:00 am by

Pitching the McNally Jackson space, Photo: Winick Realty

Last week, we broke news that McNally Jackson Books is leaving its Prince Street headquarters next spring after fourteen years on the block. Eponymous owner Sarah McNally allayed the sadness by saying that they settled on a new space nearby.

Reason for the abrupt departure is an astronomical rent hike. Until now, amount of the increase was not known, only that it was “an enormous amount of rent.”

During the “Rally for our Neighborhoods” on the steps of City Hall last weekend, Ms. McNally spoke about commercial rent. She admitted that the annual outlay on the bookstore at 50-52 Prince Street went from $360,000 to $850,000. That’s a near-136% increase.

Real estate listings show what brokers want for the space. Scope the rendering above.

McNally Jackson will close when the lease expires in June 2019. The next chapter is coming soon, though. McNally told amNY last week that “she now has a contract on one space [in the same neighborhood] and has also identified another as a backup.”

Recent Stories

The ‘New Stand’ is Finally Ready to Take the Bowery

It’s been almost three years since Patricia Field retired her Bowery fashion boutique and quietly relocated to Seward Park. While a replacement was ultimately found a year thereafter, mum has largely been the narrative at 306 Bowery. Until now. The so-called New Stand, which inked a ten-year deal on the 6,700 square-foot retail space ($220 […]

‘Esther & Carol’ Goes Dark After Less than 2 Years on the Bowery

Esther & Carol had lofty goals for the southwest corner of Bowery and Broome. Barely two years after opening, the restaurant is now dark. Esther & Carol occupied a large swath of the Sohotel corner (the former Bacchanal), and was split in thirds – full service dining room, casual takeout window, and basement lounge with […]

Icon Terminates Seward Park Garage Lease 3 Years After Parking Privatization

Three years after the parking garage privatization pitted Seward Park co-op members against the board, the operator is out. Icon/Quik Park tendered its termination over the holiday weekend, and will pull out of the garage at the end of this month. Charles H. Greenthal & Co. management circulated a letter to tenants announcing the news […]

Cajun Quietly Comes to Hell Square with ‘Parish NYC’

Out of nowhere, this new Cajun spot for Hell Square. Parish debuted last month at 146 Orchard Street. The arrival of Parish (the word for “county” in Louisiana) comes on the heels of Butcher Bar, the Astoria-based barbecue bar that shuttered back in September after little more than a year. According to its mission statement […]

NYC Half Marathon Foists Thousands of Runners onto the Lower East Side Next Month

On your mark, get set … for thousands of marathoners on the proverbial doorstep. The New York City Half Marathon is less than a month out, and for the second year running, the Lower East Side is in the crosshairs. The race route shifted last year to include spanning the Manhattan Bridge, Canal Street, and […]