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

Help Support Gem Spa on St. Mark’s Place Tomorrow

A perfect storm of misfortune has plagued the Gem Spa these last few months, causing a precipitous loss in business. From landlord issues to the temporary ban on cigarette sales and the loss of Zoltar, it’s hitting the bottom line. Fear of forever closure is palpable at 131 Second Avenue. The plight of the East […]

With Champ Depot Out, Bowery Corner Gains Another Gallery

For more than a decade, the Champ Depot restaurant supply company occupied 176 Bowery. Now, its former home is completely empty and fetching for a new deep-pocketed tenant. There is a torrent of listings on Craigslist fishing for suitors (“last corner retail in Nolita”), yet one was already found to occupy the second floor. It’s […]

‘Partybus Bake Shop’ Parks itself on Essex Street

A different kind of party bus is rolling into the Lower East Side this fall. One ostensibly without the drunken mess. It’s Partybus Bake Shop, an artisanal bakery opening in the former Chinese seafood wholesaler at 31 Essex Street. Upon debut next month, expect a “rotating seasonal menu [of] classics including breads, pies, and cookies […]

Scaffolding Finally Deposed from the DL

It’s trading one eyesore for another. The longstanding scaffolding attached to the facade of The DL on Delancey Street is finally gone. Workers deposed the iron appendages earlier this week. You’ll recall that in July 2016,  a chunk of exterior dislodged from 95 Delancey and tumbled to the sidewalk below. The structural collapse resulted in […]

COLORS Restaurant Announces Return to Stanton Street 2 Years After it Closed Down

Two years after COLORS restaurant shuttered, news comes down the pike of its revival. COLORS moved from NoHo to 176 Stanton Street in the winter of 2017, but didn’t quite make a dent. It closed within months of opening. Now, a report that it’ll return sometime next month. The announcement arrived yesterday, on the eighteenth […]